Top page content
Fred Licciardello may seem like an ordinary guy – and in many respects he is just that – but there’s something about Fred you may not know … he is well on his way to millionaire status!
Many people are content to simply muddle through life whereas others are not. Some individuals – like Fred – understand that if they simply follow the status quo they will continue to get just that – the status quo.
Rather than resign himself to a fate that is not of his own choosing, Fred has taken hold of his future by changing what he is doing now. His “present” will have a positive impact on his “future”.
Time to Regroup
Despite negative experiences with his first two properties – one his principal place of residence which he felt he paid too much for, and the other an investment property which has performed poorly, Fred never lost faith in the idea of wealth creation through real estate investing.
After realising that he needed a bit more information and advice under his belt – and to minimise the chance of buying yet another “dud” investment property, Fred sought help with his next property purchases.
Fred chose Positive Real Estate because he wanted to build a property portfolio as a wealth creation vehicle. He knew that he lacked the skills and necessary contacts to achieve this feat on his own, so he began looking at a number of property groups to find experienced mentors who could help.
There were several things that stood out to Fred when he researched our company:
- Tabitha’s down to earth approach and the fact that she had built a significant property portfolio herself.
- The Mentoring membership is for life – it’s not restricted to 6 or 12 months like other programs.
- There is no compulsion to purchase the agency’s properties.
- Education is the focus, so that an investor is armed with enough knowledge to go out and source their own deals whilst minimising the chances of purchasing a “dud”.
- The regular meetings allow you to meet and share experiences with other like-minded people.
We’re On a Roll Now!
After some time with Positive Real Estate, Fred began searching the markets; confident in the knowledge he’d gained and backed by mentors who were readily available to assist him at a moment’s notice.
His strategy was a simple, tried and tested one; buy property at a discount and then add value through renovation.
Confident that the property he’d found in Western Sydney would do the job, Fred purchased a property near Parramatta for $260,000. After renovation costs of $20,000 the property was valued at $340,000 and had a rental yield of 7%!
What made him choose the property and market he did?
“I saw a shortage of housing in Western Sydney, extremely low vacancy rates, proximity to Parramatta (which can be described as Sydney’s pseudo second CBD) and a very real possibility of increased employment opportunities as a result of projects and government investment in the area.”
Fred, like so many other property investors, has learned to target growth markets through research, to learn what the market price and rental return is for the property type and market and to walk away if the deal simply doesn’t work.
Pay It Forward
Fred advises new investors to educate themselves and surround themselves with experts (property, finance, legal, tax and property managers). To be ready to stick around for the long haul and if you make a mistake it’s nothing that money can’t fix.
Fred has only just begun. Despite his portfolio’s youth, it is showing signs of growth (both rental and capital), which encourages him to continue, confident that he’s making the right moves. He’s now built up a portfolio of several properties stretched across four states! He’s also very savvy about investing – rather than waste his profits on frivolous spending, Fred is sinking them towards purchasing even more investment properties!
Maybe you’re stuck with a “losing” property. Maybe you’ve got no access to capital to even consider buying another investment property. No matter where you’re at as a property investor, someone else (very likely one of our own Property Coaches) have been there at one time.
Come along to our next FREE Property Investor Night and learn what you can do to break free and move forward in your investing career.