by Defence Housing Australia
Property co-ownership is not just for first-home buyers seeking to overcome housing affordability issues. Seasoned investors are joining forces to enjoy the benefits of co-ownership, including purchasing properties in areas they couldn’t otherwise afford and buying multiple properties to diversify their portfolio and spread their risk. Two good mates demonstrate how co-ownership can be a lucrative investment strategy.
With a friendship of 15 years, an eye for a good opportunity and a keen business sense, Peter Younghusband and Greg Aitken have created a successful property investment strategy that is reaping rewards.
A teacher, Peter first heard about Defence Housing Australia’s (DHA’s) investment program in the staff room at his school in Karratha in north-west Western Australia (WA).
‘Living in remote WA, I wanted a property investment strategy that didn’t require hands on management,’ he said.
After looking at other property investment options, Peter decided that DHA was the safest option for him and bought his first property.
‘The fact that I would never have to deal with finding a tenant or loss of rental income was very comforting,’ he said.
‘The long term lease also gave me the confidence I needed to hold the property and achieve as much capital growth as possible.’
Realising he was onto ‘a good thing’ Peter bought another DHA property 18 months later, and wasn’t about to stop there.
‘I began to understand about how to use my equity to buy more properties and generate more income…the more I knew, the more I wanted to buy,’ he said.
Peter’s aim was to build his portfolio quickly, but he did not want to incur the risk of accumulating high amounts of debt. In 2005, he joined forces with long-time, Brisbane-based friend Greg. For Peter and Greg, co-ownership works well despite the fact they live on different sides of the country.
‘Between us we do a lot more in half the time. It’s worked really well for three years now,’ Greg said.
‘Like any investment there is always an element of risk, but this way we are able to buy more properties over a shorter space of time and share in the risk,’ Peter said.
The pair has a diversified DHA portfolio with properties in Port Kennedy (an hour south of Perth), Townsville, Darwin and Karratha.
‘Greg and I have gained a lot of hassle-free investing, financial security and a new lifestyle,’ Peter said.
In fact, the strategy is working so well for Peter that in December last year, he was able to give up his permanent day job to pursue full time property investing.
‘DHA investments are something I believe in,’ Peter said. ‘I have no hesitation in recommending them to others.’
If you want a successful investment strategy contact DHA today on 133 DHA.
Note: Every attempt has been made to ensure the accuracy of this information at the date of publication; however information supplied is intended as a general guide only. Prospective investors should seek independent professional advice; and make and rely upon their own assessment of the risks prior to purchasing.
Loading ...
