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PROPERTY UNFILTERED: 5 properties, 3 years, $1.5m in profit, and countless lessons: Isaac's wake-up call for property investors!
Welcome to Property Unfiltered, a collection of raw and uncensored conversations with Simon Loo and some of the nation’s most savvy investors – giving you the insights you need to achieve your property dreams.
In this episode, House Finder’s Simon Loo and Smart Property Investment’s Liam Garman are joined by Isaac, a seasoned investor, to explore how effective property management drives investment success.
Isaac shares his journey, which began in 2021 with his first property in Logan, Queensland, growing his portfolio to five properties worth around $4 million.
Along the way, he encountered challenges with property managers, having to replace three due to poor communication and a lack of proactive support.
Simon emphasises that even initially competent managers can decline without proper oversight, making it crucial for investors to manage and document their property management teams carefully.
The discussion also highlights the need for a financial buffer to handle unexpected maintenance issues, as Isaac recounted juggling multiple urgent repairs simultaneously. Health and compliance issues, such as mould, further underscore the importance of vigilance and engaging trustworthy service providers.
Emotional factors, including hesitancy to invest outside prime areas, were addressed, with Isaac stressing the value of professional advice and a long-term strategy.
