Michelle and Simon
Simon and Michelle are long term clients of the wHere ? group.
In 2005 Simon and Michelle were referred to the wHere ? group from a friend of theirs to talk about buying a home.
They already had an investment property each.
After a long discussion with Todd about what their long term plan was to be, they soon decided to continue renting and continue to buy investment properties. The strategy was to build up a property portfolio and then sell all to buy a home.
Their first buy was in Geraldton WA. A purchase of $56,000 with construction costs of $210,000. On completion this was rented for $300 per week.
Very soon after they made their second purchase of the famous “Smurf house”. They nicknamed their investment the “Smurf house” because of the bright blue paint. The purchase price was $103,000 with a rental return of $140 per week.
Not long after, wHere ? property secured the 3rd Investment property for Simon and Michelle in Collie WA; A vacant block of land for $52,000. Their last investment property purchase was again in Geraldton W.A and another block of land for $59,000.
What needs to be noted here also is that Simon and Michelle are keen travelers and take lengthy holidays, months at a time, plus have updated their cars and not to mention the $5,000 operation on their 64kg Rottweiler, Leeroy. Investing in property correctly has allowed Michelle and Simon to have this lifestyle.
As the properties made an excellent return, the wHere ? group arranged with local agents they use to sell the properties.
- Geraldton house and land package - $420,000
- Smurf house - $170,000
- Geraldton land - $103,000
- Michelle’s Cronulla unit
- Simon’s Gymea House
As it stands today, they still own their land in Collie, which gives them further options later down the track
The game plan Simon and Michelle used was the “rent and invest” strategy. Having used this strategy and now sold they have recently purchased their first home together in Woolooware of which they own the majority of.
What's next for them – some renovations then back into investing…
Contact Us for more information on Simon and Michelles Case Study.
More news from wHere its @ July edition
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