Reece is in his early thirties, a single, career focussed public servant who spends his spare time playing basketball. He has an indigenous background and proudly represents the country in the Australian Indigenous Team, as well as playing in state-wide competitions, the Waratah league and for the St George Saints.
Reece plays basketball for the Australian Indigenous Team.
Reece came to DPN keen to get into the property market but also nervous about the financial commitment. Reece explains, “I was quite risk averse, having not had anyone in my family ever invest in property outside of their own home. It took me a long time to get my head around the numbers and actually borrow the money.”
Spurred on by the success of his first property, Reece aims to buy another two properties before he is 40 to reach his goal.
Borrowing to invest requires much consideration, there is a lot involved. “DPN did a great job of explaining the numbers behind property investment, including all the factors that make up a positively geared investment. I really had confidence in their process,” tells Reece. Now that he has seen how the model works - and is enjoying his new passive income - Reece is keen to build a portfolio and aims to buy another two properties by the time he is 40.
Not only has Reece achieved this goal, to break into the property market, he is the youngest in his family to ever own a property, something that he is extremely proud of.
Reece invested in a house and land package in the suburb of Aberglasslyn, in the booming Hunter region of New South Wales.
With the help of DPN he built a Dual Income home, which is a property design that features two self-contained dwellings on the same block of land. The homes were completed, ready to be rented, with all appliances, fittings and fixtures (even letterboxes and turf!) The property management team at DPN then took charge, quickly finding suitable tenants.
A 6.9% rental yield is outstanding compared with the Sydney metro average which is currently 2.5% per annum for houses, according to Urban.com.au. As he explains in his review, this was one of the big drawcards for Reece who was expecting to receive the appraised amount and was “blown away” when the income from his brand-new investment it came in at $170 per week over the appraisal.
As the youngest person in the Craigie family to ever own property, Reece is feeling pretty satisfied that he’s achieved is goal of getting into the market while getting a taste for life as a successful investor; he's enjoying his new passive income while he dreams of early retirement.
This information is provided by DPN Pty Ltd ABN: 94 630 700 186, Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and a related entity of DPN Pty Ltd. Casa Capace Operations Pty Ltd ABN: 79 624 981 184, NDIS provider Number 4050038018 trading as Casa Capace.