Wendy was 63 years old when she first approached Christine Williams at Smarter Property Investing and had never purchased a house before. Wendy has one adult daughter and had spent many years working in Administration for a Government job.
The Challenges Wendy Faced.
After experiencing bullying at her place of employment, Wendy decided to leave her job. For the next 20 years, Wendy did casual odd jobs to support herself. When she turned 63, Wendy looked into her Super and saw she had accumulated around $400,000. This was when she decided it was time to look into purchasing property and approached Christine for guidance.
After meeting with Christine, Wendy soon found herself the proud owner of her very first built property. During this same time, Wendy had found herself a new Government job in the Fraud and Intelligence Unit doing what she excels at. So, we formulated a plan. Wendy, happy in her new place of employment and with rent coming in from her new property, would work until she reached the age of 75. She then planned to retire, sell her property and purchase a new property for herself in Melbourne.
Even at the age of 63, with only her Super to her name, we were still able to go down the path of property investing. Having $400,000 in Super gave the banks an exit strategy and a loan for a 10-year period.
In the beginning, the rent was enough to cover the loan, however in today’s world, Wendy found that she had to also contribute to the loan herself. We met again and had a long chat about devising a new plan. Though she was contributing to the loan herself with the rent not entirely covering it, her property had gone up in value by several $100,000’s. So rather than keep the property till she reached the age of 75 which would have taken us to 12 years, we decided we would sell when she turned 72, take the money from the sale and purchase a 2-bedroom apartment in Melbourne. Something Wendy had always wanted to do.
Smarter Property Investing
Smarter Property Investing provides clients with a proven formula for investment property success and a pathway to real wealth.
I support the growth of everyday people who value having someone in their corner who can guide them step-by step through the process of sound property investment. Property is a safe, secure and reliable pathway for almost anyone to build wealth on, just like Wendy. Just like me. Just like you.
Meet Wendy. A Case Study.