Bold move makes couple $25m in two years 💰 realestate_au
Investors Scott and Mina O’Neill have made some prudent purchases. Picture: Julian AndrewsA Sydney couple has seen the value of their property investments – which include residential and commercial real estate – jump an incredible $25 million in just two years.
Their 26 properties spread across the country deliver them more than $2 million a year in gross rents – and all the lifestyle perks that come with it.Mr O’Neill, originally from the Sutherland Shire, said they would never have seen this kind of value jump investing in residential real estate alone.He attributed their success to focusing on the commercial market instead.
The couple’s first purchase back in 2010 was a $460,000 house with a granny flat in the Shire. They used $60,000 in savings for their upfront costs. He was 23 at the time, she was 22.They continued buying residential properties in high growth locations in the years after, often drawing out equity to fund purchases after seeing value growth on their investments.
It’s just so happened that the value of these types of properties has, in some cases, doubled in only a few years. The complex generates them nearly $600,000 a year in net rent, which pays all their mortgage obligations with money left over.
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