On this page you will find some of our extensive client client success stories. Please visit our client testimonials page to read our client testimonials.
Keep an eye on this page as we add additional client success stories from time-to-time!
Please feel free to read some (or all) of them, and if you have any questions please contact one of our Property Investment Advisers to be put in contact with any of these clients.
Sheree and I started out in property separately, both at the age of 24. I purchased my first house in the CBD of Bathurst in 2002. I was approved for a $200,000 loan, but I bought the cheapest house on the market for $104,000. My loan had an unlimited redraw facility, so it worked like an offset account, and as I paid my first home-owners grant straight into this account, I was instantly $7,000 in front. I continued paying this loan down and by 2006 I had paid most of it off. Then we started renovating, doing 90% of the work ourselves, keeping costs down to around $80,000, spent mostly on materials.
In 2007, Sheree bought her first house in Bathurst for $170,000, again with assistance from the first homeowners grant. We moved into this property to make renovating our first house easier. After nearly 12 months, we moved out and began renting the property. We are currently earning $235/week rental income and the property is valued at $240,000. A great feature of this property is its large backyard, making it suitable for development further down the track.
By 2011, we felt the need for a bigger home (more space for when we have a family), so we borrowed to purchase our current home again in Bathurst which we paid $540,000 for. It is currently valued at $680,000. We sold my first house for $377,000 and used this money to pay down the loan on our new home.
Our next move was to set up a St George portfolio loan, which allowed us to build a house in the backyard of Sheree's first house. This cost $225,000 and we currently rent it out for $350/week. It is valued at $350,000.
We continued to pay down our home loan and by 2012 we were ready to start looking for another property to buy. With the equity we had built up, we could borrow 110% of purchase price which meant our savings were not required from this point forward, allowing us to continue paying down our home loan.
We found a unit for sale in Bathurst. The property was listed at $310,000 and we negotiated a price of $300,000. However, the sale was held up, because there were two units for sale and the separation of titles had not been finalised. So we offered to purchase both units and got them as one property for $580,000. We had our solicitor check that all the physical work was completed for the subdivision, and all we need to do now is get final inspection to separate the titles. We haven’t done this yet as currently we are only paying one lot of council rates! Rental income from each property is $330/week and the combined property is valued at $630,000.
In 2014, Sheree found Destiny (after reading some of Margaret’s books) and this gave us the skills and confidence to broaden our investment horizon. When we signed up with Destiny, we had $240,000 in equity available for a deposit on a property, stamp duty, etc. Up until now all our properties were in our home town, so we started looking around Australia with our newly learned skills in researching areas thanks to Destiny.
We found a duplex in Cabooulture for $406,000 which is currently renting for $530/week and valued at $420,000. While Cabooulture was settling, we found a unit in Kingston. After deciding to buy it, we noticed there were two for sale in the same complex, so to reduce the amount of research we had to do we decided to buy both of them for $305,000 each and they are currently rented for $365/week each and valued at $300,000 each. We still had $80,000 in equity, so at the end of 2014 we purchased a unit in St Marys for $398,000, currently renting for $390/week and valued at $450,000.
Now we have $25,000 left in equity. Our home is paid off, but with the tightening of serviceability in the banking sector we can’t get access to our equity growth. We are still looking to purchase one more property soon and will use some savings if the property we find is over $300,000.
Our investment portfolio is run with minimal input from me. We have an offset account into which all rents are paid. Each investment loan has a redraw facility, and we pay 1/12th of yearly costs for each property monthly into that account. This means that when any bill comes in, we just pay it out of the associated account.
To balance this system we need to put in $1,600/month ($19,200/year) which comes from wages. If our tax returns for the year are over this – which they will be – then it will cost us nothing to hold all these properties and any capital growth is ours.
Also as a buffer, we pay into these accounts weekly and the outgoing costs are monthly, so we get a bonus four weeks’ incoming money each year. We budget for at least $1,000 annually in maintenance costs per property. This money stays in each offset account until it is needed, further saving us on interest costs. If any property’s balance gets too low that property’s maintenance allowance is increased.
All I need to do is keep an eye on the balance of the first offset account to see if everything is working. It fluctuates by about $10k each month.
As a further buffer we have another offset account where any savings go and the tax refunds go. As this balance grows, it saves more interest with the money saved showing up in the first offset account.
The plan from here is to accumulate as many properties as possible until such time as we retire and sell enough properties to pay out loans and hopefully have a few properties left earning rent and capital growth. We still have plenty of time for this to happen as we are only in our midthirties and have two small children.
Mat had seen how property investing could achieve a financially secure future. I knew the importance of investing but was reluctant to purchase property outside of our local area. Before going to Destiny we purchased our first investment property in 2011, in our hometown, using the equity in our home. We purchased a commercial shop with a residential house at the rear. The house was solid brick, but very old inside, so we completed a full renovation on the interior and exterior, which increased the value of the property significantly. It now achieves a 10% rental return.
After seeing Margaret Lomas on various business and property shows, we liked the strategies she incorporated into property investing, and we trusted her expertise. After seeing her represent Destiny we decided to contact Destiny Perth so they could assist us on our property journey.
Destiny helped us to see our potential financial outcome over a 15-year period. I was nine months pregnant at the time, so it took us another 10 months after that first meeting to get back to Perth to do Destiny's Essential Property Education course in early 2014.
After the two-day course we were so much more knowledgeable and confident in buying property. Once we got home and did a lot of research into different areas of Australia, we purchased three properties in a four-month period. The first property was a 3 x 1 unit in Woodridge, Queensland; the second property was a 4 x 2 house in Crestmead, Queensland; and the third was a 3 x 1 house in Morphett Vale, South Australia - all with positive cash flow! I didn't even think twice about buying property outside our local area and not being able to see it myself. I realised how uneducated I was about property investing before the course.
Currently we are waiting to refinance equity in our Collie investment property which will release enough equity to purchase another four properties. That would give us a total of eight properties. We would like to accumulate another six investment properties over a four-year period, bringing the total to 15. After that we will see where we are, whether or not we buy more properties.
We would love to give our children a property each once they are old enough to help them start their investment journey. Mat would love to semi-retire at the age of 45 and live off the income the properties receive. Then we could spend more quality time with our children. All this would not be possible without the help and support from Destiny Financial Solutions.
I'm from the temperate climes of Manchester in England, the birthplace of the industrial revolution, and starting point of music legends the Bee Gees, Oasis and Rick Astley. My wife Michelle is from Perth and we met through friends when she was on a working holiday in the UK. We spent our first 10 years together in Manchester before the cold, grey weather lost its allure and we moved 'down under' with our daughter Rosie in 2008. We spent a few weeks looking at different places and decided to settle in Perth, where we rented for a while, before buying our home in Canning Vale, a suburb about 20 minutes south of the city.
A couple of years ago, I reflected on where we were likely to be financially at retirement and decided that we needed to do more to set ourselves up for a comfortable future.
How? I went to the Perth Investor Show looking for inspiration and whilst there I met Margaret Lomas. We had a chat and my interest in property investing was ignited. I got the books, subscribed to the property investing magazines and set the IQ box to record Property Success. I got stuck into the research, content whiling away the hours with my head in some book or other. Michelle told me I was being a bit nerdy, which I took to be a compliment.
I also got talking with a friend who's a property developer. Now I know what you're thinking, but on this occasion it didn't end in tears. He helped us locate a block in the growing suburb of Piara Waters, South East of Perth, which we were able to pick up at a good price. He then helped with the design and build of the property at mates' rates, which meant that we were able to gain some instant equity and be cash flow positive from the start.
But we were lucky. Looking back, the timing was close to perfect - riding the Perth property boom - and I had a lot of help from a trusted, experienced and successful friend. Going alone, I'm sure it would have been a very different experience.
Watching the process closely from start to finish, I became acutely aware of the many potential traps for young players and decided that I needed to get properly educated before tackling the next investment, which I was keen to do further afield.
I went to seminars run by a number of property advisory firms but settled on Destiny as I wanted to go with someone who was independent and offered a comprehensive training and support programme. I attended an Essential Property Education course in May last year, which Margaret ran personally. It was fantastic. Margaret brought the content to life by candidly sharing her own experiences with the group. The course gave me the confidence and drive to press on with our next investment property, which would be an established property in Bellbird Park, Queensland.
Using the Destiny 'Property Manager Interview' guide I found an excellent Property Manager (Jodie Mitchell from Ray White Goodna) who looked at several properties for us. One was a standout and after a little negotiation, we were able to secure it.
Then came the building inspection report, which revealed some 'Category 3' structural defects. On advice I called the inspector and said, "I've read your report, now tell me what you really mean". It was clear that the inspector had been conservative in his assessment (as he should have been) and that the defects weren't potentially too serious.
I contacted the vendors and we agreed to go halves on the cost of an engineer's report at $300 each. This revealed that the structural defects were no more than minor movements of eaves trim due to temperature and humidity changes. These could easily be remedied and this was made a condition of purchase. We would have potentially walked away from a great deal had I not been encouraged by the Destiny team to speak with the building inspector and follow up with the engineer's report.
On a suggestion from our conveyancer, Vivian Foote at ABKJ Lawyers, I asked the vendors if we could use their professional photos to help find a tenant. They were happy for us to do so and we were able to find a suitable tenant before settlement.
I'd caught the bug and pretty soon was on the hunt for our next investment. One thing I noticed this time around, it seemed a lot quicker and easier than the last one. Along the way, I had created a set of templates to help compare areas, contact property managers and sales agents and to draft offers (maybe I am a bit nerdy).
We secured the next property just before Christmas last year. The vendor was willing to cut a deal to have the property sold before the end of the year and was prepared to accept our offer with long settlement terms to allow for everything taking more time to do in January.
We're now looking for our next investment property and are considering taking on a minor renovation project this time if the opportunity presents itself.
We're still at the early stages of our investment property journey, with lots to learn, but I honestly don't think we could have achieved what we have to date without the help of the Destiny team and in particular Margaret, for getting me started and sharing her knowledge and experience, and Bernie and Terry from the Perth branch for their advice and support.
I've recommended Destiny to a number of our friends and will continue to do so.
After more research and a few more offers, another property was successfully negotiated in Crestmead. This time there were no issues with the building and pest and the property was settled in July 2013. There was a tenant in the property when it was purchased. After six months the tenant moved out and the property manager recommended to paint the inside. This was undertaken and it resulted in a $25 increase in the rent. Once again the team at Destiny was there to help. I was gaining confidence and felt I was starting to ask the right questions.
Around July 2014, I began looking for my third property. I went to the Destiny office to undertake some research and came across a property in Raymond Terrace in the Hunter Region of New South Wales that ticked the boxes. I negotiated on that day and the offer was accepted. This settled in September 2014 and has been tenanted ever since.
I am currently 48 years old and my twins are 22. One has just finished university and the other is still studying. My goal and drive is to be financially secure when I retire. I don't want to be greedy just comfortable.
I had a meeting in May 2012 and decided to join Destiny. Four weeks later I undertook the education (EPE) course and was ready to get my first investment property. After three months of research and making offers I secured my first property in Tamworth NSW. After the building and pest inspection it was noted that there were a couple of minor issues that required rectification. With the help of Destiny I went back to the real estate agent and negotiated a reduction in price. This property settled in November 2012 and has been tenanted since purchase. With this purchase I was always asking the team at Destiny for advice. They stepped me through the purchase process and how to get the right property manager.
I met my future wife and made the move to the mainland where we found work in country South Australia and had twin girls. We decided to sell the block of land to purchase a house to live in, despite my Pop trying to advise me not to, saying they are not making any more land! We doubled our money on the block which afforded us the luxury of owning our own home. With no mortgage we saved as much money as we could every week.
I waited for the dust to settle, then two months later I was on the lookout for my next purchase. After attending the monthly PAT meetings I identified the south of Brisbane as a good area to be looking. I did my research (not as much as with my first purchase) and found a property in Crestmead, QLD. A price was negotiated and the building and pest inspection was ordered. I always get the building and pest inspector to call me while they are on site. They called and said they had found active termites in the garden and one of the walls of the house. There was minor damage and it would not cost much to repair. I felt there was more than one property on the market and pulled out of the deal. Once again the team at Destiny helped me through this process.
In May 2015 it was time to buy another one. With minimal research I found a property in Crestmead QLD again. The building and pest inspection was ordered and the call was received. They had found extensive termite damage throughout the building. Once again I pulled out of the deal. I then found a property in Waterford QLD. The building and pest report came back with minor repairs required. I called the agent and the vendor made the repairs. This property settled in July 2015.
My friend had been encouraged to contact Destiny by an ex-colleague who had purchased a few properties and was now working at Destiny. I thought if it is good enough for him I would go and check it out.
Once again I moved the family due to work commitments - this time to Melbourne, the Mornington Peninsula to be precise. We rented for a few months prior to purchasing our current home. During our time as tenants, our landlord would not provide any maintenance and the property manager was very disorganised.
Once in our own home again, we were committed to paying it off as quickly as we could. A couple of years after purchasing the Mornington home, I caught up with a friend in the city and was talking about selling my shares to pay off the home. He was at a similar stage of his life and in the same financial position as I was. He said he was going to a property education course over the next two weekends at a company called Destiny. I had never heard of Destiny till then.
The purchase of my first property was scary and I was stepping into the unknown. By the time I had purchased my third property it was easy and I knew what to expect.
Then I went to see a financial planner about buying an investment property (or two). As the financial planner was into shares he advised me away from property due to the normal things: bad tenants, no tenant, what if the property gets damaged. I was naive and very uneducated about investing in property and took his advice and bought shares. A few years later the housing prices doubled and my shares were still plodding along. I still kick myself about not getting a second opinion and educating myself about investment properties. Hindsight is a great thing.
We've found that if you tick all the boxes there are investment properties that can be cash flow neutral or slightly positive with growth. I try to find these as they help me grow.
With the help of Destiny during the negotiation of my first property I saved the cost of the education course and all other negotiations are a bonus. My wife and I often say the money that was spent on the education was some of the best money we have ever spent.
Work then took us to country Victoria where we purchased our next property. To purchase this we sold the South Australian house and made a small profit. We paid the new Victorian property off over the next five years and we were in a good position financially.
We are probably typical of most couples in our early 50s. The last 20 years or so have been occupied by raising our three sons and trying to juggle that with busy careers. What makes us a little different is that 20 years ago, Len was diagnosed with cancer and was not expected to survive 12 months. The doctors are at a loss to explain why but he has defied all the predictions and is now one of the longest survivors in the world with his type of cancer. It hasn't been a simple path though, and the future has always felt uncertain to us. This has inspired us to very consciously enjoy the time that we have as a family and to live for the moment. It's a really great way to live your life and we have all benefited from it but it has meant that, until recently, we hadn't given a lot of thought to funding our retirement. We honestly never thought we would make it that far!
When Len turned 50 a couple of years ago it dawned on us that maybe we should do some planning for the future. We bought some books on investing, both in shares and property. One of those books was Margaret's "How to Create an Income for Life". From the first chapter it made sense to us and we decided that we would like to know more. We attended a talk by Margaret and felt inspired but didn't take any further action. Twelve months later we went along to another talk and this time we received a follow up email inviting us to come into the Sydney office for a free consultation. We were so impressed by Jim and the approach to property investment he outlined for us that we signed up the same day.
After attending the Essential Property Education course we felt we had the knowledge to begin the process. It all felt a bit daunting at first but having a structure and knowing the steps we needed to follow has made it seem manageable. Any time we have had a question or felt unsure Jim and his team have been there with guidance about the next steps. We bought our first property in the Logan area in December 2013 and we've been on a roll since then. Twelve months later, in December 2014, we are about to settle on our 11th property.
One of the best things about the Destiny system for us has been the Property Action Team meetings. We really weren't sure that the meetings would be our thing but we have gained so much knowledge from attending these and find it really motivating to hear each month what everyone has been up to with their property purchasing. We have found it challenging at times to narrow down the many possible areas for investment to the one that we should look at next. We have found Kate to be incredibly knowledgeable and helpful in advising on this.
Knowing that there is always someone to give advice if we were unsure has made the whole process to date a real pleasure. Jim, Kate and their team have such a wealth of knowledge and experience and have helped us to develop confidence in ourselves as investors. We feel like we are now in control of our financial future and we hope to motivate others to explore property investing. To anyone thinking about property investment we would encourage you to go for it. The Destiny team will be with you every step of the way.
Warren and I met 15 years ago on a mine site in Mt Magnet, WA and continue to work in the mining industry at various sites around WA. We both grew up in country towns and now live 25 minutes out from Bunbury on a two-acre property.
One of our big passions is travel. Since we met, we have travelled overseas every year. Our travels have included Africa twice, Alaska, the US, Canada, Fiji, Vanuatu, Malaysia, Mauritius, UK and Europe a number of times. We have included conservation volunteering on a couple of holidays which we really enjoy and it is something we want to continue to pursue. We hope to return to Africa next year and include some volunteer work. As part of our last trip to Africa we visited an amazing orphanage just outside Nairobi, founded by an Australian couple. We now sponsor two children at the orphanage. Warren is an avid dirt-bike rider and we both enjoy hiking, diving, camping, going to the beach - very outdoor sort of people.
When we joined Destiny in late 2012, we owned outright six-acres of land in Tasmania, half hour from Hobart. It has not been developed but has increased in value so it serves as a little nest-egg or financial buffer if we need, as it is not tied to any of our other properties. We were also in the process of building a 4 x 2 property in Donnybrook, 20 minutes south of Bunbury, an area with a low vacancy rate. This property has been rented since the build was completed in March 2013. We decided to join Destiny to make sure we would be secure and comfortable in our retirement. We wanted something to show for all our hard work in the mining industry and to improve our tax situation. We had the goal to pay off our own home, completed in 2009, as quickly as possible. We also liked the idea of being able to have the freedom of choice and lifestyle in the future. Working FIFO can be very rewarding but can be very taxing. We hoped through successful investing we would eventually be able to choose what sort of work we did without having to necessarily earn the higher income. I had read about Destiny in magazines, seen some of Margaret's books and I did some research on the internet. The approach and structure of Destiny appealed to us so we made our initial appointment with Terry at the Perth branch. When Terry presented us with our PIP we were pretty amazed about what we could potentially achieve. It seemed a bit daunting at first but we were inspired and determined. So with the amazing help and guidance of Terry, Peter and now Bernie we are well on our way.
We now have four properties, including Donnybrook, with our fifth due to settle on the 27/10. We purchased our first property with Destiny in Mt Druitt, in May 2013; then one in Wodonga in November 2013 and then a property in Cooloongup, Perth, which involved an interior renovation in February 2014. Our current purchase is in Collingwood Park, Queensland. We have also paid off our principal place of residence this year! The main challenge with investing is making sure you make the time to conduct the research. Thorough research does take time and involves a lot of commitment to sit down and do it, especially at the end of a long day at work. You need to make sure that the area you are looking at meets the 20 questions and suits your profile. You look at a map of Australia and think, "Where do I start?". Having narrowed down specific areas, Warren and I discuss these and then decide which to focus on. I will then do more research to really hone in on an area/particular part of the town. I enjoy finding out the 'nitty gritty' of an area. When we are at the point of choosing a potential property we will work together to decide which property we will put an offer on. We always decide on our upper limit before putting in the initial offer. I handle the negotiations and Warren and I discuss counter-offers as they come back and if we have conditions we want included. Once the offer is accepted I then organise all the necessary inspections, the lawyers and other associated paperwork. Each situation is different. With Donnybrook and Cooloongup we had considerable input in as far as completion of the yard and interior renovation. Warren is extremely versatile with his skills. His background means he is able to do everything from welding to fitting new window locks. We work well as a team in these situations and both get stuck in, helping each other out. Our particular strengths and weaknesses complement each other.
Eventually we hope to have 10 properties by the end of next year with the aim to get them to the point where we can start to draw some income from them without having to work away. After 10, who knows - the property bug may keep us going! We would like to be able to dedicate more time to volunteer work and to get to the point where we could set aside three-months a year to travel and volunteer. arren and I whole heartedly recommend Destiny to anyone. They offer amazing support, guidance and encouragement. What sets them aside is the fact that you are in control of your own path. They are there for you but ultimately it is you who decides what action you take or don't take.