{"id":14533,"date":"2017-11-10T01:00:28","date_gmt":"2017-11-09T14:00:28","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=14533"},"modified":"2017-11-10T01:00:28","modified_gmt":"2017-11-09T14:00:28","slug":"early-exit-from-the-rat-race","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/early-exit-from-the-rat-race\/","title":{"rendered":"Early exit from the rat race"},"content":{"rendered":"

Property investment has long been on Brodie Hurley\u2019s radar. With a co-worker\u2019s assistance and advice from a great property team, he is now on his way towards achieving his goals of early retirement as the proud owner of a property portfolio worth almost $2m
\nSometimes, an unexpected person can be the one to kickstart your dream, as Brodie Hurley found out.
\nAfter buying his personal home in his hometown of Bundaberg, Queensland, in 2012, Brodie had begun reading up on property investment.
\n
\nBrodie has only been investing since 2015 but already has four properties in his portfolio
\n\u201cMost of these books had some really strong points about why investing in property was the way to go. I was starting to see how these people were building property portfolios that were replacing their current incomes,\u201d he says.
\nHowever, Brodie still had to focus on handling the expenses of his Bundaberg home before he could make his foray into investment.
\nAs he broadened his property knowledge over the next few years, Brodie began chatting with a colleague who had started building a solid portfolio. This led him to get in touch with property coach Drew Evans from Caifu Property in 2015.
\n\u201cIt was just a matter of taking that first step, which was making the phone call to a property investment expert,\u201d Brodie explains.
\nIn December 2015, he purchased his first investment property \u2013 a house in Aston Grove Estate at Bridgeman Downs, just over 10km from the Brisbane CBD.
\n\u201cIt was only a couple of hours\u2019 drive from Bundaberg, so I was able to drive down to inspect the estate and to see its potential for myself,\u201d Brodie says.
\nThis house was in a suburb just 20 minutes from the Brisbane airport, which made it \u201cvery easy to rent\u201d.
\n\u201cThe capital growth is already going up nicely,\u201d Brodie says. Indeed, the property\u2019s value has soared from a purchase price of $626,900 to almost $700,000 in a little over a year, translating to growth of around 10%.<\/p>\n

\u201cProperty will give me the ability to enjoy retirement \u2013 not when I\u2019m 65, but at an age where I\u2019m still young enough to do whatever I like\u201d<\/em><\/strong><\/h2>\n

The follow-up investment<\/strong>
\nBrodie\u2019s first foray into property proved to be a success. It was followed by the purchase of a house in Jimboomba, also in Queensland, in 2016 \u2013 and again the property\u2019s value rose by almost 10% in just a year.
\nHe paid $416,200 for the house, which was valued at $440,000 shortly after settlement. \u201cOver the last 18 months I\u2019ve learnt a lot when it comes to investing, especially when it comes to getting valuations done,\u201d Brodie says. \u201cI\u2019ve learned that you\u2019ve got no control over who does the valuation. I\u2019ve had to see values come back with a $40,000 difference, which is pretty frustrating!\u201d
\nYet he understands that such challenges are part and parcel of property investment.<\/p>\n

\u201cLet\u2019s face it \u2013 if it was easy, everyone would be doing it!\u201d<\/em><\/h2>\n

A simple strategy<\/strong>
\nBrodie\u2019s brief time in the investment world means that he hasn\u2019t quite developed a clear plan for his portfolio yet, though he does have a clear goal: to finance an early retirement by investing in real estate.
\nJimboomba property Purchased in 2016, this property\u2019s value has risen by over $20,000 in just about a year
\nBundaberg property Hurley\u2019s personal property, this home is currently valued at $500,000
\nBridgeman Downs property The value of this house has shot up by around 10% to almost $700,000
\nAnd while Brodie thinks he could be more aggressive in pursuing investment \u00a0opportunities, he\u2019s happy with his current steady approach to buying property.
\n\u201cI\u2019m fortunate to have had the guidance and the expert knowledge from my team of property professionals backing my investment decisions, so the chances of making any mistakes are minimal,\u201d he says.
\nAt present, he leans towards deals that offer strong cash flow, which has him constantly considering house and land packages located near CBDs.
\n\u201cI also wouldn\u2019t mind getting into duplexes or even triplexes,\u201d he says.
\nBrodie\u2019s most recent purchase, a piece of land in Newport, Queensland, could help him facilitate these plans. He intends to build a house on the land as soon as it is registered, though it could lend itself to a multi-dwelling development. Depending on the development strategy he goes with, he believes this area could do just as well if not better than his Bridgeman Downs investment and add significantly to his portfolio, which is nearing $2m in value.
\n\u201cMy overall plan is have a property portfolio with enough cash flow to allow me to stop work and live life on my terms,\u201d Brodie says.
\n\u201cIf everything goes according to plan, property will give me the ability to enjoy retirement \u2013 not when I\u2019m 65 but at an age where I\u2019m still young enough to do whatever I like, without having to worry about where the next dollar is coming from.\u201d
\nBRODIE’S PORTFOLIO<\/strong>
\n
\nBrodie doesn\u2019t have any regrets, he adds, though he wishes he could have started investing five years earlier than he did.
\n\u201cIndecision is one of the biggest destroyers of anyone\u2019s hopes or dreams and even of the choices people make in life. If investing in property is something you really want to do, make the decision and do it,\u201d he advises.
\nHe suggests investors who are just starting out should treat the process like an apprenticeship.
\n\u201cRead as many books and magazines as possible about investing, jump online, and do plenty of research. Don\u2019t wait for the perfect time to buy, because in the meantime you\u2019ll miss out on heaps of awesome opportunities!\u201d
\nBrodie considers passion to be an important driving force in his property journey to date, and believes that with a strong enough desire you\u2019ll achieve your goals, no matter how far off they seem right now.
\n\u201cDon\u2019t worry about the naysayers,\u201d he adds. \u201cThere will always be negative people around, so surround yourself with like-minded people that are doing what you\u2019ve set out to achieve and seek every little bit of advice from them.\u201d<\/p>\n

\u201cDon\u2019t wait for the perfect time to buy, because in the meantime you\u2019ll miss out on heaps of awesome opportunities!\u201d<\/em><\/strong><\/h2>\n

BRODIE’S TOP BUYING TIPS<\/strong>
\n1. Buy in areas with high levels of owner occupiers, within close proximity to capital city CBDs.
\n2. Choose a property manager who has local knowledge, and one that has your best interests in mind.
\n3. When negotiating, always keep your budget close to your chest and don\u2019t be afraid to walk away if the price exceeds your top dollar.
\n4. Always protect your investments: get the necessary insurances in place, such as income protection. Don\u2019t leave yourself exposed to the unforeseen.
\nFor more real life investors stories like this, visit: http:\/\/www.yourinvestmentpropertymag.com.au<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Property investment has long been on Brodie Hurley\u2019s radar. With a co-worker\u2019s assistance and advice from a great property team, he is now on his way towards achieving his goals of early retirement as the proud owner of a property portfolio worth almost $2m Sometimes,…<\/p>\n","protected":false},"author":176692471,"featured_media":14534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13,25,31],"tags":[70],"class_list":["post-14533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-story","category-sponsored-channels","category-your-investment-property","tag-featured"],"yoast_head":"\nEarly exit from the rat race - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/early-exit-from-the-rat-race\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Early exit from the rat race - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Property investment has long been on Brodie Hurley\u2019s radar. 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