Finance advice

Being a university dropout did not stop this property investor from chasing success

By Bianca Dabu
property investor, chasing success, investing, property investment, job at investment company, career in investing

Jacqui Zielinski dropped out of university after five weeks in a business course, went on to land a job at an investment company, and then built an impressive 10-property portfolio worth $3 million with her husband.

Her journey started when she was only 19 years old after she realised that she’s just not cut out for the “university life”. She took an office administration job, which paid her $17,000 a year before she was employed by a well-known businessman who owned an investment company in Wagga Wagga.

“He'd just set up this other tax firm and he had me in there ... He opened my eyes a lot to what I could do property-wise because he was quite a savvy investor—he had residential, [and] commercial properties,” Jacqui shared.

The property investment landscape intrigued her so much, especially after she has seen the great potential for wealth-creation. Soon enough, she got herself into the banking industry where she had the opportunity to interact with property investors who own massive portfolios with as much as 20 to 30 real estate assets.

According to her: “I was just blown away, and I thought, ‘Oh, I want to do that myself … ’ That's why I got stuck into it at quite an early age.”

Starting her own journey

Jacqui became well-acquainted with the Wagga Wagga property market—enough to give her the confidence to start investing in properties. She bought a two-bedroom apartment near the central business district for $185,000.

The property investor said: “It’s probably one of the cheapest properties I could afford at the time because I was only on about $40,000 and I had about $6,000 deposit plus the $7,000 first time owner's grant.”

“Interest rates were pretty high at the time—about 8 per cent—so I pretty much put everything I could into it and that's how I pretty much started.”

Looking back, it was probably not the best decision to invest right where she grew up, but she was thankful to have gotten herself into the game. Years later, with a few investment lessons learned the hard way in between, she was able to move to Sydney with her husband, who has started investing with her.

All in all, the couple have their assets spread in different areas of Wagga Wagga and Western Sydney, including Mount Druitt and Macquarie Fields.

Is being a dropout limiting?

Many people consider dropping out of university a wrong move, especially for their future as professionals, but Jacqui believes that it was one of her best decisions in life. Aside from being a successful property investor, she was also able to quit her job at the bank to start her own digital agency.

She said: “I look at it now and go, ‘Thank God I left’ because if I didn't leave, I don't know what I would've done ... I might have ended in a role that it was just not fulfilling, so I'm really glad I left.”

“The people I met when I left … even though I had to work my way up, [they] made me hungrier ... I think it gave me that passion to do something bigger.”

For the property investor, while her journey started through a string of fortunate events, success in property investment is still largely dependent on one’s passion and willingness to work hard.

According to Jacqui, she “went all in”, learning all that she needed to know through forums and, most importantly, through the people she meets.

She said: “[There are] different events and stuff that I go to [and] you would not know in the room who's a property investor … [But] then, you start talking to them—all ages, anyone can do it. It's just … they have to want it, too.”

Smart Property Investment’s Phil Tarrant agrees that property investment is for everyone from all walks of life—as long as he has the desire to get ahead and take control of his financial future.

He said: “It's really the mindset ... Understand it, get educated, get confident and comfortable with it, and start slowly,” he said.

“For me, the big thing was that I couldn't ever imagine myself working for 40 years in a job … [and] this is one way that I can change my future, really … Even though it's in some ways complicated ... once you understand the fundamentals and how to do it … [and] once you get it right, you can then just repeat that process,” Jacqui concluded.

Tune in to Jacqui Zielenski’s episode on The Smart Property Investment Show to know more about the impact of educating yourself, how to find a balance between business work and investment, and the simple but effective ways to improve your current portfolio.

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  ["title"]=>
  string(51) "Boost for investors as app sets up off-site bidding"
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  ["introtext"]=>
  string(144) "

Property investors are now able to identify and bid on auctions remotely using a new live-streaming functionality launched by Gavl.

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Called “Request an Auction”, the new functionality enables users to watch and bid on any Sydney or Melbourne auction remotely.

Through Gavl, prospective buyers are now able to register to bid on their preferred auction. The platform will obtain permission from the listing agent and confirm within 48 hours.

Vendors can also request to have their auctions broadcast to a larger buyer audience.

Co-founder Joel Smith said that auctions streamed on Gavl attract 47 per cent more viewers than traditional ones.

He said that Request an Auction will be valuable for remote buyers.

“Buyers are able to have Gavl attend any auction they nominate, so they will never have to miss out on an opportunity due to logistical complications in physically attending the auction.

“Vendors, too, have the opportunity to directly book an auction with us, so they can open up their event to buyers all around the world. With more potential buyers, they’re giving their property the chance to receive more bids and maximise their sales result.”

Mr Smith said that prior to the Request an Auction app, buyers were limited to what they could achieve through the Gavl technology.

Gavl is a live-streaming and bidding platform for real estate auctions.

Mr Smith said that it has streamed more than 6,000 auctions, which have achieved 3.5 million views from 50 countries.

Gavl’s Request an Auction function is currently being offered in Melbourne and Sydney only.

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Boost for investors as app sets up off-site bidding
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Having to split her time between Hong Kong and her original base of Sydney has not slowed Julia Tita’s goal of building a high-performance Australian property portfolio. Instead the resulting alterations to her strategy have positively impacted her investing success.

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Having recently purchased her 6th property, Julia joins host Tim Neary to discuss her journey, share her ups and downs over the years, and reveal her thoughts on why some properties are better than others.

Julia also explains why she no longer makes a move without the help of a buyer’s agent, why working with a strong team of specialists is extremely important and discloses her long-term property ambitions.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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AREAS MENTIONED:

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How a move to Hong Kong impacted Julia’s Australian property goals
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  ["id"]=>
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  ["title"]=>
  string(88) "‘Common’ referrer practice of being paid on both sides of the fence coming to an end"
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  string(246) "

The practice of property investment firms sharing undisclosed kickbacks among the supply chain involved in development sales will be outlawed in NSW on 1 July this year under the Real Estate Reform being handed down by regulators in NSW.

" ["fulltext"]=> string(2238) "

Property commentator and valuer, Suburbanite’s Anna Porter, said the reform will address conflicts of interest.

She said they arise when a mortgage broker, accountant or financial planner receives part of the commission from the property firm, who receive their fees from the developer or seller.

“This puts the broker into a position by which they are being paid on both sides of the fence,” she said.

“Until now this has been a grey area and there was nothing stopping this practice.” 

Ms Porter said this has been a common practice in the industry.

"Some well-known mortgage broking firms openly admit to receiving $5,000–$10,000 per referral in their pocket.”

She also said this process has been going on for decades.

"Property investment firms commonly pass some of their commission on to the mortgage broker, accountant or financial planner as a reward to them for passing on the referral. This means that many brokers or financial service providers are making significant amounts of money just to refer on to a property firm, often totalling hundreds of thousands of dollars a year," Anna Porter said.

Ms Porter said the Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 will be in force from July this year, and will prohibit this practice unless the broker or referring partner also holds a real estate industry license.

"Under the new laws, if the broker takes a referral fee from the property firm, they will have to be a licensed real estate agent and also hold a corporation’s license,” she said. 

“Subsequently, every transaction that they receive a referral fee from, they will be putting their license up against the transaction and taking full liability for the conduct, practices and outcome of that transaction, even if they have little to do with the transaction; they are a party to it financially and therefore take as much risk as everyone else in the transaction.”

Mr Porter said where a referrer holds a real estate license, and receives a part of the sale commission, they may find themselves in breach of the ethical requirements under the act.

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‘Common’ referrer practice of being paid on both sides of the fence coming to an end

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