Real Estate Success.
 

Barry was a single wage earner with 7 children who struggled to pay the bills for some 30 years.
There was very little spare money to say the least with that many children!

Finally when some children left home (aged more than 21) suddenly he found there was some spare money so decided to save it.

He saved $15,000 in the first year and wondered what to do with it as it was in a bank account receiving very little interest.

He had attended over 3-4 years earlier a negative gearing seminar on investment properties so whilst on a rare 1 week holiday on the Gold Coast he and his wife decided to attend a free bbq breakfast where they gave information on property investments.

They saw a couple of blocks of land and settled on one at Robina, Varsity Lakes using the savings as a deposit to set it all up.

They built a house and rented it out for $300 per week. The value of the home and land was $245000 and cost them $3000 a year to own 5 years ago.

Now it's worth $600,000! "A wonderful retirement present with my super. I will have over $1,000,000 to retire on in 2 years!" says Barry.

Considering that there has been a fair bit of negative publicity about a few shonky operators selling over-priced Gold Coast properties to unsuspecting holiday goers, this is definitely a success story!

(I certainly hope that Barry gets some sound financial advice on how best to structure the Super and Property money into a retirement income!)