At just 25 years old, Keeley Starling has achieved what many of us can only dream of – she’s already bought not one, not two, but three homes!
As a nurse and a real estate agent, Keeley attributes her success to a “domino effect” that’s helped her build a property empire.
How Did She Do It?
Keeley’s husband, a draftsman, bought his first home before they met, and now they’re working together to build their property portfolio.
Although their investment properties are negatively geared, meaning the tenants’ rent doesn’t cover the mortgages, the couple is managing to keep them afloat by contributing funds each month.
Keeley’s first home was purchased last April, and she’s proud to say that she saved up for the deposit herself.
The Power of Equity
So, how did they manage to buy a third property? Keeley explains that they used the “equity” from one of their existing homes to fund the purchase.
This clever move allowed them to avoid the hassle of saving up for another deposit. As Keeley says, “You just need to make sure you have enough borrowing power, and you can service the debt.”
A Recipe for Success
Keeley’s story is an inspiration to many, and she’s keen to share her secrets with others. She believes that buying multiple properties isn’t something to be nervous about, as long as you have a solid plan in place.
With her husband’s support, Keeley feels financially secure and proud of what they’ve achieved, especially during a cost of living crisis.
Not Everyone is a Fan
However, not everyone is celebrating Keeley’s success. Some people have taken to social media to criticize her for owning multiple homes, warning her about the risks of debt and job loss.
But Keeley is confident that her property portfolio will provide her with financial security in the long run, and she’s not apologizing for her success.
The Bigger Picture
Keeley’s story highlights the challenges faced by many Aussies in the current housing market. With the median house price in Australia over $900,000 and average rent soaring past $600 a week, it’s no wonder that many people are struggling to buy their first home.
According to the Australian Bureau of Statistics, the average full-time employee earns just over $100,000 per year, which is less than the amount needed to service a mortgage.
Keeley’s success may not be the norm, but it’s a reminder that with hard work and determination, anything is possible.
What Can We Learn from Keeley’s Story?
Keeley’s experience shows us that with the right mindset and strategy, we can achieve our financial goals. By using equity to fund new purchases and managing debt effectively, we can build a secure financial future.
So, the next time you’re thinking about buying a property, remember Keeley’s story and the power of the “domino effect” – it might just inspire you to take the leap and start building your own property empire!