Initially when I began to write to successful property investors I had planned to include all of the tips I received in one mega-packed blog post, however, upon receiving tips from some of the people I had written to, I thought that each person really was worthy of a single post each! So here we are, will our first successful person in property – Rachel Barnes.
Rachel is one half of the very successful duo behind Property Women, which is a property education and inspiration organisation who have a membership group and hold regular property events and workshops. Like most people, I love a good success story about someone who has come from a relatively modest background and created wealth and financial freedom and Rachel’s story is one of those! She really did come from humble beginnings and despite not getting started in property investing until after age 40 (see – another great lesson, it’s not too late to start, whatever age you are) she has amassed an amazing portfolio of over 70 properties!
Rachel specialises in buying and holding positively geared properties – and this is one of mine and Den’s favourite strategies too! Gosh, we really must work hard to get her on the podcast soon!
So, I asked Rachel three questions and she was kind enough to send me her responses, take a look:
1. What’s your top tip for a beginner investor?
Decide on the strategy that suits YOU. There’s a number of different basic property investing strategies so you need to find out more about the pros and cons of each basic option then decide which of those will suit you best and then tweak it to fit you perfectly.
2. If you were starting out now, what strategy would you employ to get started?
I’d still go with the same strategy I have which is positively geared buy and hold. However creating rather than waiting for capital gain in Australia is more important in today’s economic climate, so if I had the motivation to create value through renovating and in=fill developments, I’d be taking that route.
3. Who/what has been your biggest property mentor or influence in your life?
I didn’t have a particular property mentor – apart from my lovely partner John Fowler 🙂
Personally I find mixing with successful real estate investors gives me inspiration and information while I have fun chatting with them. I also attend workshops and seminars to keep me up to date and motivated – but often more to meet other like minded investors and expand my network of contacts.