Our clients often tell us that the inspiration to start on the process of building their own wealth was due to hearing the real-life stories of people who had already made a successful start down the road of property investment.

This is what has led us to create this special section; to be able to share the amazing stories of people who are now well on their way to financial freedom, often against all the odds.

Each person’s story is as individual as they are, but one thing they have in common is the determination and bravery to face and overcome their fears. We hope that you will similarly be inspired by what you read in our “Success Stories”, maybe even to the point where you also decide that it’s time to take the plunge.

Once bitten, no longer shy

Rags to future riches

Turning lemons into lemonade

Taking the plunge

Why not take two?

Once bitten, no longer shy - Timothy Thoo

Timothy Thoo and his wife Pamela first fell in love with Australia and each other as teenagers, when they came from Malaysia to Adelaide to study at university They eventually fulfilled their dream to return, migrating to Australia permanently in 1995. Unfortunately their first property investment turned out badly when they bought a Queensland house through a less-than ethical marketeer overseas. They found out later they had paid a lot more than the property was really worth. Despite losing a lot of money, they eventually regained the confidence to try again. With determination and hard work, their growing property portfolio now includes the family home plus three investment properties.....

Investment timeline;

1992 – Bought Queensland house via an exhibition in Singapore
1995 – Migrated to Sydney, Australia; bought land, built family home
1998 – Sold Queensland house
1999 – Bought Sydney apartment from developer
2002 – Sold Sydney apartment
2003 – Bought Gold Coast apartment with McCarthy Group
2004 – Bought Perth house with McCarthy Group
2005 – Bought Cairns house with McCarthy Group

What first attracted you to property investment?

My wife Pamela and I had always felt property was a good way to invest and create wealth. Although my parents were not well off, I had seen my uncle start investing in property at a young age and he eventually built a large portfolio. Watching him gave me the confidence it could be done.

What made you decide to invest the first time?

We wanted to start young so we could be self funded by the time we retire. Basically, we were living and working in Singapore for a couple of years before migrating to Australia. We saw some Queensland houses for sale at an exhibition and were very interested. We were hesitant about buying from overseas, but we were shown a bank valuation which was the same as the purchase price. This convinced us to buy one of them.

Were you nervous starting out?

Yes! We always knew it was important to do proper research, but with the first house we put our faith in the information they showed us. And trusted them. That turned out to be a big mistake. Then when we came to Australia and bought land to build our own home, we were very nervous about the size of the loan. It felt like a lot of money to owe the bank and we were worried about paying off the loan.

What challenges did you face along the way?

We were badly misled by the people who sold us the first house. When we got to Australia we realised the bank valuation had been almost 50% more than the apartment was really worth. Even when we decided to sell it 5 years after we bought it, we still lost around $60K. It was a costly mistake and really taught us that doing your own research is really important. It was not a good start.

After a few years, we decided to try again on our own. We did a lot of our own research and eventually bought another apartment from a developer. It did reasonably well and in three years we had made back the money we had lost on the first one, so we decided to sell it. We didn’t really know how to build a portfolio and realise now this was not a great decision, but we just wanted to recover our loss. I guess the biggest thing we learned after all this is that my wife and I are very good at IT but we are not property investment experts. Now we have found McCarthy Group, we trust them to know what we don't.

How did it work out?

When we eventually came across McCarthy Group things became a lot easier. At first we were very sceptical after our previous experience, but we could see the information they showed us was not information they had cooked up themselves. It was solid data from places like the Australian Bureau of Statistics. I did a lot of my own research too and it all added up.

In the past five years we have bought three properties through McCarthy Group and we are looking at another one this year. All three have had solid growth; one in particular has done exceptionally well. We now know we were better off finding trustworthy experts to do what we are not so good at, and the gains have far outweighed the cost. The fear we felt at the beginning is gone – we now feel very comfortable and have no apprehension about the process. And the best part is we are not worried at all about our financial future.

What are your goals for the future?

We plan to have eight or nine properties by the time we retire. We will not need to rely on any type of government pension and should be able to help out our kids too if they need it. Although they are learning about investment as we learn too, so I doubt they will need our help!

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Rags to future riches - Eddie Bruce

Eddie Bruce was born into a working class family east of London – Gravesend in Kent. It was a place where very few people could ever hope to buy a car, let alone a family home. His parents split when he was just 7 years of age and he and his younger brother were taken in and raised by his grandparents. Five years later in 1964, his grandfather passed away and his grandmother emigrated to Australia with the two boys in search of a better future. Eddie was just 12 years of age. Fast forward 44 years to now; Eddie and his wife Julie are successful IT professionals with two grown daughters. They own their own home plus three investment properties and are well on their way to a self-funded retirement....

Investment timeline

1984 – Married Julie and bought first family home in Adelaide
1987 – Sold first home, bought next family home in Adelaide
1994 – Sold Adelaide home, bought next family home in Sydney
1999 – Purchased investment unit off the plan in Sydney
2006 – Purchased two investment houses with McCarthy Group, in Cairns and Townsville

Why did you focus on property as your investment strategy?

Honestly, I have never felt like the banks have done the right thing by me. Over the years I've had a few experiences with short term investments that made it clear they're out for themselves. I tried buying shares but I didn't get great results from them either. You only have to look at what's happened to most people's superannuation funds recently – mine have taken a real clobbering over the last 12 months. We're not that far off retirement hopefully and we can't just rely on super. I realised if you buy land, it has to appreciate eventually. It's more stable and predictable. I feel you've at least got a sporting chance with property.

So what made you actually start investing?

I had always wanted to make a better life than the one my father had, so buying the Chatswood unit was a step towards providing for the future. But life got in the way for quite a long time after that – raising our daughters and work – so we didn't do anything further for seven years. Then we came across the McCarthy Group – it must have been the seven year itch! At that time our daughters were grown up, we hadn't paid off as much of the family home as we would have liked and we knew it was time to do something. When we saw what McCarthy had to offer it just all made sense and it was obvious it was the right step to take.

Did you have any fears?

Of course, especially seeing as we were buying not just one, but two houses. My wife started calling me the million dollar man, just because of how much debt we were in! It is a big thing for me from the background I have come from to be in this position of taking on debt and buying houses, and we were both very nervous. My dad rode a bicycle most of his life as he couldn't even afford a car, and would never have dreamed I would end up doing something like this. Although I know he would be incredibly proud too. I've always faced up to taking risks, I think it's just important to assess the risk properly. If it all makes sense, which it did, you just have to throw yourself in the deep end.

Were there any challenges along the way?

McCarthy Group were so organised there was little else for us to do once we signed up other than make the payments. There were a couple of delays due to weather and what not, but we were kept so well informed; they sent us photos all the way through showing us where they were up to and we could see they were doing a good job. The answers were there before we even knew we had a question, and that gave me a lot of confidence.

Looking back how do you feel?

We feel really comfortable. Overall I can see we made the right decision and we're glad we did it. If anything, I can see now if I could change one thing I would have started younger. I didn't buy my first home until I was past 30. I see that as my only regret.

What plans do you have for the future?

Good question! In a couple of years we'll probably sell the Chatswood apartment and put the profit back into our family home. Depending on what the market is like at that time, we'll assess it and maybe think about buying another house if it all makes sense. We want to travel and retire with a good lifestyle as well as be able to help our girls if they need it. Those are the goals we'll be working towards.

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Turning lemons into lemonade - Sharon Brady*
* Name changed at client's request to protect privacy

Sharon Brady immigrated to Australia at just 24 years of age with her then-husband. Together they had two children whom Sharon focused on raising while her husband built a property portfolio and operated a successful business. Due to the recession of the early 90's, they unfortunately needed to sell most of their property portfolio – the family home was all that was left. Eight years ago, Sharon started again on her own with only a half share of that home. Today at 50 she is happily single, her children are grown, and she has independently turned her fortunes around. Her portfolio currently includes her own home plus two investment properties in Cairns and it seems the sky is the limit for this inspiring woman....

What made you choose property as your investment strategy?

Although the recession hit us hard in the 90's, I had seen the proof that property was the way to go. But knowing that was the easy part. The hard part was, I had always trusted my former husband to decide what, where and when to buy, and to face these decisions on my own was intimidating.

What inspired you to invest the first time?

I had thought about it a lot over the years, even met with a few different property investment companies, but I just didn't feel comfortable. When I came across McCarthy Group it just felt like the right time and the right people. It all made sense. I satisfied myself with my own research and in the end, I trusted my instincts.

Were you anxious?

Goodness yes! I wondered “Am I doing the right thing?” and I worried about it a lot. But I knew if I didn't push myself I could be missing a great opportunity, and that maybe I would never do it. It was incredibly difficult. The second time around was completely different though – it was only 18 months later and I actually called McCarthy Group myself, saying I was ready to do it all again. That time I thought “I want this, I can't wait!”

What were the biggest hurdles along the way?

The biggest hurdle was just overcoming my own fears. The process was all very smooth really. My biggest worry was about getting tenants into the properties quickly. But both times the real estate arm of McCarthy Group, Koala Blue, had organised tenants to move in the same day the properties were completed. It really was amazing. The second time around, I actually was caught by suprise. Koala Blue was calling me wanting to give the keys to the tenants and I hadn't even finalised the completion payment for the builders! I had to rush to the bank and organise a transfer, but this was a great problem to have.

What did you take away from having invested successfully?

I felt I had achieved something extraordinary on my own. I realised after the first one that despite all my fears I could do it, that I wasn't too old, that I could even do more! I felt like I was reaching my highest potential and the whole process gave me a real burst of confidence. And I also got to know that my instincts were good. I have my hands full with my work and I felt I had spent my available time constructively – researching the company I decided to partner with, not trying to research the property I would buy. I believe McCarthy Group were worth every cent.

What does the future look like for you?

Incredibly bright – I have set myself a goal that within the next 5-8 years I want to buy two more properties with McCarthy Group. Now that I've been to Cairns and seen the properties I know the photos are accurate - the buildings are great quality. Next time I'll diversify and choose a different area so my eggs aren't all in one basket. I'm confident in the process and the product and feel confident to keep going!

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Taking the plunge - Mark Sciacchitano

Mark and Antonietta Sciacchitano met and married young. Almost twenty years later they have two daughters and are still happily together. A mechanic and a primary school teacher respectively, they bought their first home in 1989. Within ten years they had paid off the mortgage. They decided to upgrade, buying land and building a new home. A couple of years ago they decided it was time to start thinking more seriously about their financial future. Despite their fears, they bought their first investment property in Cairns with McCarthy Group in 2007...

Investment timeline;

1989 – Married and bought first home
1998 – Sold first home, bought land and built new home
2007 – Bought Cairns house with McCarthy Group

Why did you decide to invest in property?

I guess we're a bit old-fashioned – both of us have been brought up to believe bricks and mortar is the safest way to go. There was never any question in our minds that this was the path we wanted to take; it was just a question of how and when.

What was the trigger for buying?

When we realised it was time to think about actually doing it, we didn't really know where to start. Then a colleague at Antonietta's school mentioned she was involved with McCarthy Group and encouraged us to talk to them. The thing that really made us sure it was the right thing was going to McCarthy Group's half-yearly conference and meeting a whole lot of other McCarthy clients. We met people who had two, three, even five or six properties, and the thing that stood out was how excited they were. It was great to be around successful people and that gave us a lot of confidence. I work in a successful family business and we don't have to advertise – it's all word of mouth. And I liked the fact McCarthy don't need to advertise either.

How did you feel?

Worried, scared, and very apprehensive at first! It was a big decision to put ourselves under such financial pressure and we had a big fear of things not working out. There were a few sleepless nights. But we knew we had to bite the bullet and do something – we wanted to make sure our future and our daughters' future were secure. Looking back though, having McCarthy involved meant we really didn’t have to worry about anything. They had the answers to every question and never seemed to mind us asking them.

What were the biggest challenges you faced?

The hardest thing was probably facing our fears and trying not to worry too much. A couple of things went wrong that were out of anyone's control, which didn't help. Firstly interest rates just seemed to keep going up every time we blinked and we were worried about the repayments. But McCarthy Group found tenants within a week of the house being completed so that really took the pressure off. Also there was a patch of bad weather while they were building – it rained for two weeks straight so everything was delayed. It was only two weeks but it felt like forever at the time.

So how do you feel now that the process is finished?

We feel good, we feel relieved. Looking back we feel we couldn't have been more supported – and I hate to think of how it would have been if we had tried to do it ourselves. With two daughters who both love to dance, our weekends are taken up already, and my wife and I both work during the week. Just the time it would have taken just to find a property, let alone to know if we were choosing a good one or paying the right price...it would have been too much stress.

Where to from here?

Well, we want to do more – but we're letting the dust settle before thinking too hard about how many more or when! It's great to get through it and know we can do it, that we've done it. That it wasn't as hard as we thought it would be and now we're well on the way to our financial freedom.

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Why not take two? - Mark Goldsworthy

Mark Goldsworthy was raised by his uncle, who had himself grown up during the depression. Mark's uncle taught him to work hard, not to borrow money and not to waste a thing. He was able to take the good out of his uncle's teachings, working two jobs to buy and pay off his first home quickly. But he also had the courage to step outside the boundaries of his uncle's views to create a better life and future for himself, his wife Edna, and his five children. At only 44 years of age, Mark's hard-work and determination have resulted in an investment portfolio which already consists of dividend-producing shares, the family home, plus two investment properties.....

Investment timeline;

1988 – Bought first home – Sydney house in need of renovation
1994 – Sold first home, bought lesser value home. Excess money invested in share market
2000 – Sold second home, built new home on land inherited from uncle
2006 – Purchased two investment properties with McCarthy Group – in Cairns and Townsville

How did you first come to buy property?

Well, my uncle who raised me was old school – I had a strong work ethic from a very young age and wanted to buy a house as soon as possible. Part of what he taught me was you shouldn't borrow money, and if you did, you should pay it off as quickly as possible. From the time I left school I worked two jobs for years. Life was mostly working, eating and sleeping, saving up the money to be able to buy. When I did eventually buy at age 24, I owned 25% of the house within the first year. I did it up myself, sold it six years later for more than three times what I paid, then did it all over again. When my uncle passed away and left me his home, I sold up again and built a new home on his old block.

What made you buy your first investment property?

I had taken on a maintenance job at a well-known school and someone told me one of the teachers had five properties. I couldn't believe it and I always wondered if it was true, as I knew he didn't make any more money than I did. One day I just came out and asked him. He said it was true, he told me about McCarthy Group and suggested I call them. So I did. It seemed everyone I came across who was involved with the group, from the sales consultant to the accountant they put me on to, had actually already purchased property with the group. This gave me a lot of confidence and really inspired me that I could do it too.

Did you have any fears starting out?

Absolutely, I was worried mostly about putting my house on the line, given I'd worked so hard for it. I really was fighting what was drilled into me from birth, this thing about not borrowing money from banks. But what the guys from McCarthy showed me just made sense and it was so simple to understand, I was convinced pretty quickly that buying an investment property was a good idea.

What challenges did you face?

The main one came when the guy from McCarthy Group came back and said actually I could afford to buy two properties instead of just one! I had only just wrapped my head around buying one, so this was a major re-adjustment. Honestly, everything went so smoothly I kept asking my wife if this was too good to be true. Aside from a couple of hiccups with some paperwork there were no problems at all. And looking back, I know that's hard to believe, especially considering there were two at once, but it's the truth.

How do you feel now?

Now that I know the people and the process I feel a lot more comfortable. I still don't like owing money, I still don't like banks, I guess it would be strange if I was able to totally change the beliefs I grew up with. But I know why I'm doing it and I can see how this is going to get me to where I want to be. And as the loan gets smaller, I'll feel even more comfortable, I know. Then I'll be ready to do it all again.

What are your investment goals?

I made a promise to myself a long time ago that I would have one investment property for each of my children. With five children that means I've got a way to go yet! I also promised myself at 17 as I walked out the gates of the worst public school you could imagine that I would send each of my children to private schools. This will be no mean feat to achieve, but I am surer than ever now that I will be able to keep both of these promises.

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