20s coupe, 28 IPS, $17.3m, 60% LVR

http://www.news.com.au/finance/real...t/news-story/d671bb41de62fdf4394bd78511b64ac0

Wow, this story is amazing, cant really fault them (cant see any mining props, or inflated yields)

they have done really well.

 

Wonder what the third property is?

 

How is $190,000 pa rental income enough to live on & pay P&I on 60% of the $17m? That doesn't add up to me - and I think that 28 properties should earn more?

 

Thats probably 190k net.

 

Nice advertorial for their BA business

 

very good....7.5m in equity in 8 years..very noice....

 

Im going to leave it up as its a far funnier title!!!

 

OK when are you getting your Coupe?

 

I remember reading about these guys a couple of years ago. Here's that article.

Gen Y couple rentvested their way from $15K to $10m and quit their jobs

So they've gone from $10m to $17m in 2 years with another 3 properties net.

And most of their IPs are spread around regional cities, Brisbane (the likes of Ipswich), the GC, all places that haven't gone NUTS in the last few years.

I'd say the bulk of the increase in property value must be in the home they purchased (probably recently).

It's easy to get enamored by these sorts of articles but until you see the details....

 

carsales doesnt go that far back..... im boned!

 

"After two more years of saving, the couple bought a unit in Maroubra in Sydney in 2012, where they lived for a year."

"They then decided to add to their portfolio by purchasing four units on the one title in Port Macquarie for around $425,000."

"One example of how the O’Neills have added value to property was by buying one strata title with five units all on the one title."

They definitely did quite well out of their purchase at Port Macquarie though.

$3,200 per week on $425,000 purchase. $166,400/yr or 39% yield.

I do however prefer when these stories don't come with someone trying to push a business at the same time.

 

Holiday rental??

 

And then there's this one...

The Gen Y couple from Sydney making $300,000 a year with 28 investment properties

Except that just a year go, the net, passive income was $300K. Now it's $190K?

How? PPOR purchase, P&I obligations??

Not stalking these guys, just that I had read about them and was doing my own analysis (as you do) as to how they did it...just in case I was doing something wrong with my strategy.

As I said, unless details are provided, its exceedingly difficult to make a call on the legitimacy.

 

Mate they are proably at 700k gross...but their debts have gone up....most of the income would be from their BA business.

Great going in a short time though...

 

They've done great, why not leave it at that

 

Why not ask them yourself? @Scott O'Neill

 

Good on them. I am sure they worked hard and had perfect timing. Well done. Hopefully they don't expect the same outcomes forever and consolidate.

 

Great work to them. Good inspiration for the young generation that hard work, some good due diligence and having the nerve and guts to actually delve into the property market without having analysis paralysis or continual procrastination (these 2 things are an individual investors biggest killers).

Property investing is addictive, once you start its very very hard to stop. Excellent work.

 

Is this possible with the latest APRA tightening?