Young couple quit their day jobs after turning a $15,000 deposit into a 28-property portfolio worth more than $17 million – and they say there's one Australian city they'd NEVER invest in Mina O'Neill, 29, and husband Scott, 31, bought their first investment in 2010 They purchased a Sydney home with a $15,000 deposit before renting it out Mr and Mrs O'Neill now own 28 properties across four states worth millions Pair said the Sydney market is overpriced and they don't plan to invest there
A young couple have taken just eight years to grow their property portfolio from a modest $480,000 house into a $17.3million empire, but say they don't plan to invest in Sydney again. Mina O'Neill, 29, and husband Scott, 31, worked as a marketer and engineer respectively for years before they had enough in 2010 for a $15,000 deposit on a home in Sydney's Sutherland Shire.
Now they own 28 properties across four states, making enough to quit their day jobs and start their own buyer's agency that helps others emulate their success, News.com.au reported. Their properties - which are a combination of residential and commercial - are spread across Sydney, Brisbane, the Gold Coast, Newcastle, Perth and Adelaide. And although their first two purchases were in Sydney, Mr O'Neill said the market in their home town is no longer good value for money.
These are the exact same people who were written about when the mining boom was going on and they thought they were so smart for taking on huge debt and leveraging the fuck out of their assets to go into more debt across more property.
As soon as interest inevitably rises and property prices begin to sink, they will be FUCKED.
Since they started with almost nothing, it is assumed that each new property acquired it basically just paying interest + principle.
I don't see how they can not be in massive debt or have paid off any substantial amount of the properties they claim to "own".
tl;dr they don't won a SINGLE house, are in massive debt, and will have their portfolio come crashing down like a house of cards the minute interest goes up and prices go down.
Thomas Anderson
You know the bubble is soon going to burst when the fake news does stories about retards like this. Its just like in 2007. Here in the US I see advertisements at bus stops from real estate agents on how you can make 15k-40k flipping houses.
And how's that a good idea? They rent out apartments to Asians and niggers, you know that? They also will sell it to Asians or niggers some day. Private business is not the solution you cuck capitalist.
this, they'll be the next lot bawwwing to the royal commission into bank bs like all the stupid boomers who got fucked are doing now
Adrian Jackson
>tl;dr they don't won a SINGLE house, are in massive debt, and will have their portfolio come crashing down like a house of cards the minute interest goes up and prices go down.
100% this. You'd have to be an absolute fucking moron to do what they've done. Just because a piece of paper says they're worth millions doesn't magically make it so.
All the media in NZ is shilling the fuck out of these sorts of stories, so you know the market is fucked when ((((they)))) start printing these lies.
Adrian Peterson
I am 29, from Sydney and have worked since I was 16. There is no way they did this with out money from their family.
Brayden Williams
She gonna cuck him with a bbc in due time
Austin White
$10 says they have millionaire parents. The bank will not lend you this kind of money with no income or a deposit to show for it. They need to see a history of savings over 18 months. He would also have to pay mortgage insurance which would be 10-15k per property, which he would add to the loan.
Easton Thomas
When most people can't get a loan for one house, how do you suppose they got them for 28?
Oliver James
If they don't have spare cash they will be fucked anyway when trying to sell and they will want to sell because they are young fools who want to live the Australian dream without consequences. baka.com.au/business/the-economy/aussie-expats-becoming-potential-collateral-tax-damage-20180219-p4z0se.html >19 February 2018 >Treasurer Scott Morrison would be about to whack them with a surprise $1.1 million capital gains tax bill for selling their family home of 14 years. >The Hockeys' 'old' home was purchased 14 years ago for $3.5 million.
The white women are all delusional and unrealistic.
Henry Lopez
>said the limp-dick gook LARPing as an australia To be a real Australian, like a real American or Canadian, you need to be white. Go back to your third world country, Ching-chong.
Benjamin Flores
I'm descendant of German emigrants. They arrived in Australia in 1909 and became farmers out in the bush.
I have the illness that makes me gravitate towards Asians.
Oliver Ortiz
You mean you are a Christian cuck capitalists that fucks anything that gets imported in your town.
Jace Peterson
Fuck off before i bash your head in
Julian Rodriguez
So you're ugly, unsociable, and you have a small penis?
Jackson Reed
Having to be responsible for 28 properties would make me nauseous. I guess if you have people you can trust to take on a lot of the work and responsibility it wouldn't be that bad.
An Aunt of mine does this, only she invests in ghettos. Many times these ghettos get gentrified and her small investment turns into nearly a million dollar cash-in, all while she rents the space out.
When you see something utterly wrong on this board, you know it's posted by Amerimutts. Australia is traditionally owned by CHINKS, later on they somehow abolished the Yellow Australia policy so the illegal European (((rapefugees))) flooded in, many of them are actually economic immigrants came via people smuggler. Now Chinks realised that they're being replaced, and I predict the Yellow Australia policy will be re-established very soon. This is your daily dose of CHINK.
>Yellow Australia policy will be re-established >re-established Dumb monkey.
Daniel Campbell
eduwardu changu FTFY
Adrian Thomas
t. Ling Ping Xi
Henry Rogers
It's always the same shit with jews man >buy more houses goyim >these consumer goods will surely become more valuable over time >borrow huge amounts of money from me goyim
They did something similar in my country. >we're going to give you a DISCOUNT on your taxes i.e. steal less of your money, if you take out a loan to buy a house >a few years later >houses are 12 times more expensive >everyone NEEDS loans in order to be able to buy a house that previously cost maybe a year's worth of salary and people lived where they could buy for that much
The best part: >the interest on the loans is MUCH MUCH MUCH higher than any "discount" on taxes will ever justify, but the cost looks lower thanks to being spread out over 30 years of debt slavery >retards en masse bought into this retardation anyway, and fucked the housing market for responsible savers and long term planners.
Having said that, OP doesn't specify whether they flipped houses, as in renovated and actually added value to them followed by selling them off, or just speculated and are in huge debt with a portfolio of inflated housing values.
Ayden Martinez
ASIANS VOTE FOR BIG GOVERNMENT
Name one asian society with a small government or a wish for a small government.
Luis Campbell
Ill help you curb stomp this trator mate
John Lewis
>$15,000 deposit >$480,000 house >3% down payment wow they must have worked real hard
