Maggie Zhang, who is a healthcare consultant, used to eat rice for dinner every night to save money as a property investor.
She now owns six properties, including a home in Heathmont that she is planning on selling with a friend.
She said that she was satisfied with her decision to save money and eat rice for dinner each night for a year to ensure that she would not miss out on an opportunity to buy a property.
Although it was not easy, she is now planning on selling her North and Broadmeadows homes to buy a longer-term property.
She also plans on investing in other properties to sell and renovate.
Despite the challenges of high land taxes and rising interest rates, she is still positive about the future of her property investment.
She has relied on Frank Valentic, the director of Advantage Property Consulting, for advice.
According to Ms Zhang, now is a good time to start investing in the property market.
She noted that investors are aware of the imminent rate cuts, but they are not sure when they will happen.
According to a report released earlier this month, thousands of landlords in Victoria have listed their properties for sale during the first two-month of this year, which further highlights the challenges faced by struggling tenants.
According to a study conducted by SuburbTrends, investors are starting to sell their properties and are likely to start evicting their tenants if they haven’t been given an eviction notice.