However their initial forays into property were a bit all over the place, lacking strategy and driven by emotion. They purchased a grab-bag of deals – three properties in mining towns, a dodgy, off-the-plan apartment deal, a couple of sheds and even the house next door.
They were definitely “flying by the seat of their pants.”
While Tony and Marian had built up decent equity, the properties were cashflow weaklings, and they found themselves running out of cash. At one point, Marion remembers not even having enough for a new
pair of shoes!
In 2012, they joined Dymphna Boholt’s Ultimate program and started to turn it all around. Under guidance, they off-loaded some non-performing properties, took the plunge into their first joint venture, and have even got into commercial property development.
And it’s worked. Having joined the Ultimate program with cashflow of just 2.5K p.a., they have since built a cashflow fountain of over $240K p.a., with a diversified equity position of more than $2M.
Tony and Marian have now started helping their own children with their property dreams, and Tony has used his expertise to help his local golf club develop and sell off some of its land. Most importantly, they’re able to put their feet up for a while and really enjoy what life has to offer.