How a Single Dad Built a $3.5M Property Portfolio on an Average Salary in 6 Years

Get a FREE tax depreciation estimate for your investment property: https://duotax.com.au/property-tax-de...

-----

In this episode of The Property Blueprint, we chat with Ricky Chiu, a single dad and avid property investor who, despite an average salary, has built a $3.5 million investment property portfolio in 6 years.

Ricky shares how he bounced back from a disastrous first investment that locked him out of the market for over a decade, his unique bottom-up approach to property research that led to his proudest acquisition, and why he believes regional areas offer the best investment opportunities.

He also talks about how he leverages free online tools to make informed decisions, the power of living frugally to maximise investment potential, and how he achieves his dream of leaving something behind for his daughter and getting his time back.

If you want to learn practical strategies for building wealth through property, even on a modest income, then make sure to listen to this episode!

-----

CHAPTERS:

00:00 - Intro
01:20 - About Ricky
03:00 - Ricky’s First Property and Worst Mistake
05:10 - Getting into Stocks
06:10 - How Ricky Started with Property Research
06:48 - Using a Buyers Agent
08:10 - Ricky’s Favourite Property
08:54 - Ricky’s Process. Working Backward from Property Category Instead of Location First
10:00 - Ricky’s Motives. Realising He Has Nothing to Pass to His Daughter
10:55 - Checklist of What to Look Out For
11:26 - Tool List
12:30 - Cash Flow Analysis
13:12 - Resources/Plugs
14:39 - What to Do Now. Doing Research, Living Frugal, Spending on Experiences Instead of Material Items
15:20 - Ricky’s Thoughts on Location (WA/Qld)
17:03 - What Ricky Wants to Do in the Future
18:13 - What Ricky Got from Depreciation and How He Spent That Money.
19:29 - Ricky’s Investment Portfolio Worth.
19:36 - Ricky’s Property Journey in a Summary
21:05 - Ricky’s Bad Year
23:59 - Tuan’s Outro

-----

Contact us:
https://duotax.com.au/getaquote/

-----
Connect
Website: https://duotax.com.au/
Facebook:   / duotax  
LinkedIn:   / duo-tax-quantity-surveyors