Buy Now. Lloyd Edge

paying for my future kids' education and owning a waterfront mansion, although I was teaching private-school kids who lived in those kinds of properties. What I did know was that in my current work situation I would never have a big income and wouldn't accrue much in the way of superannuation. I didn't want to spend my retirement living on a pension. I wanted financial freedom. These were the forces that drove me to taking investing seriously.

In 2007 I started looking at properties in the Campbelltown area of Sydney. I wanted to buy a bigger house to move into. My goal was to lease out Rockdale, and since it was brand new and well-located it did rent easily.

      My new house would also later become an investment. This time I was leaving nothing to chance. I had a mate who lived out near the south-west suburb of Ingleburn and had bought his house there quite cheaply. That piqued my interest, because most areas in Sydney were already very expensive back then. So I looked around and found that I could afford a bigger property in Ingleburn.

      After a little research I discovered that Ingleburn was experiencing a lot of capital growth and one of the lowest vacancy rates in the country, meaning that any property there should perform well over the longer term.

      Eventually I found a three-bedroom villa at the end of a nice, quiet cul-de-sac, listed online through a real estate agent. I had looked at a few Ingleburn properties by then, but this one had a brand-new kitchen in it, which I loved (though I didn't even cook!). This house had a better kitchen than any house I'd ever lived in. So I made a very emotional purchase for about $262 000. I only had to put down a 10 per cent deposit, which was also a relief.

      However, Ingleburn was 50 kilometres away from the Sydney CBD and from Bondi Junction, where I worked. It was on a train line, but my house was a long way from the station. I loved walking but it was a long walk to the shops if I had a lot of groceries to bring home, so I had to drive. I really enjoyed living in Ingleburn, though, because it was quiet and green and brought me back to my country roots.

      I rode my motorbike to work when the weather allowed. I'd be up at 5 o'clock and out of the house at a quarter past, to make sure I missed most of the traffic, and I'd just fly down the side of the motorway in 45 minutes. I'd do the same in the dark on the way home, and that was my day. I met Renee while I was living there, and she'd climb on the back of the bike. It was great fun.

After we bought our home in Lewisham and moved in together, I kept that Ingleburn property as an investment for a few years, then sold it in 2012 — again at the wrong time in the market. I should have held onto it for a few more years. Had I sold it in 2021 I would have made heaps on it, as it would have more than doubled in value. Even if I'd kept it until 2018, I would have made a lot more. But you live and learn.

      I wouldn't say it started to snowball from there, because although I was acquiring more properties, I still made some beginner's mistakes. This was mainly because I was still not clear on my goals and I didn't really have a strategy in place.

       GOAL 4: STARTING A PROPERTY BUSINESS

      After Renee and I got married we began to set some goals together — things like building up to a family, buying a dream home and creating a secure financial future. With that my successful investment strategies were formed at last. I'll tell you about those in chapter 6.

      I had built up a cashflow-positive portfolio, and the rental income from my properties had actually replaced my teaching salary before I left the nine-to-five behind at age 40.

      So I had a positively geared property portfolio that was paying me over $100 000 a year, and I had also set up my buyer's agency while I was still teaching. I had a lot going on — and three income streams.

      At the time, growing my business along with my portfolio happened organically.

      These days a lot of people ask me why I work as a buyer's agent and teach others about property when I have such a big property portfolio. Why don't I just retire and keep adding to my portfolio? But the reason for starting Aus Property Professionals was to help other people replicate my success and to show people how it can be done. I now employ a number of people in my business, so I am also creating jobs.

      My why was to help other people see the bigger picture and create financial freedom through property. The best thing about what I do now is that I'm combining my two passions: teaching and property investment. Though I retired from a career as a schoolteacher, I still get to enjoy the element of teaching.

I feel very lucky that I have multiple sources of income, knowing that if something happens to my business, I'll always have the income from my property portfolio to fall back on. So I'm never stressed about money. I used to be. I know what it's like to have no money; I worked hard to put myself in a different position. That meant a lot of going without, working hard to save, setting a plan and believing in myself.

      So I know it can work for you, because I've seen it work for me.

MY CURRENT GOALS

      These days I'm content though still ambitious. I have a comfortable lifestyle. Another $10 million in the bank wouldn't necessarily change my current lifestyle, because I enjoy what I have. Sure, I'm going to keep investing and saving, but moving forward I want to just keep building security for my family, and I want my financial independence to continue.

      So yes, I'm really, really happy with where I am in life and with where things are going. I've got two gorgeous young sons and a beautiful wife and love spending time with them. Certain goals have changed a bit since we started a family: putting the kids through school is part of our goal-setting these days.

      When I'm buying investments now, things are different from when I started out in two very big ways. Firstly, I'm investing very much with Riley and Caelen in mind, knowing they will inherit those properties. Secondly, I don't have specific numbers in mind for how many dollars I want in the bank or how many more properties I want to acquire, because I'm already financially comfortable. At the moment, as well as continuing to invest, I'm also paying down debt, which we'll talk about in chapter 11.

      I wasn't always so content. I lived in a shoebox of a one-bedroom apartment, then all the way out in Ingleburn. The next home we lived in was on a really busy road, and even though it was an expensive house in a good suburb, we had just one parking spot, so I let Renee park there while I'd park in another street — it was a nightmare.

These experiences drove my passion for that dream home on the water. But I couldn't just snap my fingers and buy it — I didn't have that kind of cash yet. I knew I had to work towards that — and I did.

FINDING YOUR MOTIVATION

      I believe that money itself won't create happiness unless you already have the underlying seeds of happiness. If you're unhappy with something about yourself, having more money isn't likely to fix your problem. You have to own it and change it. For example, if you're unhappy about being physically unfit, then why not change it by signing up at the gym and getting seriously fit?

      I have a morning routine that gets me up and feeling positive, so I get everything I can out of my day. I get Riley out of bed and get his breakfast sorted. He's always happy and cheeky in the morning.

      I take my Boston Terrier Frankie for a run. Then I have to have a coffee — that's non-negotiable! I also like to sit and read the paper. That relaxes me and gets my head in the right space before I get into ‘work mode’. Every evening I turn off email notifications on my phone. I have a rule that I don't check my phone after 8 pm, so I can spend uninterrupted time with my family.

      These kinds of activities would make me happy whether or not I had money. It seems simple, but it's really important to find the motivation to keep doing the things in your life that create happiness. And if you have that nice lifestyle, money just adds to what you have created within yourself.