Debt-free and gaining equity

By

12/04/2018

AT A GLANCE
Favourite investment: 2-bedroom unit in Lane Cove, NSW
Purchase date of first property: 1996
Price paid: $178,000

Allison Mifsud
A fashion designer for 13 years, Mifsud has a long-term goal to be able to live comfortably off her rental income.

Transitioning from fashion design to real estate, Allison Mifsud is using her investment savvy to enjoy life on her own terms

Allison Mifsud was heading down a different career path altogether when she began her investment journey at 22 years of age. She quickly displayed a knack for real estate and left the fashion industry in 2001.

“I thought it would be the perfect career long term and I wouldn’t be stuck in an office,” Mifsud explains.

Four years after starting investing, Mifsud stumbled across her best investment property.

“It was a two-bedroom unit in Lane Cove that I bought for $178,000. It was the place I was living in, so there was no negative gearing. My aim was to reduce debt as much as possible.”

The equity she built in the property enabled Mifsud to buy a beach house in Copacabana, which has today become her family’s holiday home. The unit was also used as security so Mifsud could purchase two more dwellings in Ryde and Mudgee.

“My parents always taught us that it’s not how much you earn that matters, it’s how much you save – and what you do with your money.”

 

WANT TO BE FEATURED?
Are you living the good life thanks to your portfolio? We want to hear from you.
editor@yipmag.com.au

 

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Top Suburbs : wiley park , scarborough , penrith , coorparoo , gladesville

go back

Get help with your investment property



Do you need help finding the right loan for your investment?


When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here