407/2018
Margaret Lomas started investing in property in 1999 in the hope that she could some day leave her nine-to-five job with a secure source of income.
Almost two decades later, she is the proud owner of 39 well-performing properties, which provide for an ample retirement fund!
In 2013, Lomas found the crown jewel of her portfolio – a house in Terrigal, NSW.
With a little work, she was able to subdivide the property to add value.
“Now, just five years later, the original house has recently been valued at $750,000, and the added house at $1.2m.
We have pretty much doubled our money in that time!” she says.
AT A GLANCE
- Favourite investment: Terrigal, NSW
- Price paid: $400,000 + $1m in subdivision/reno costs
- Value today: $1.95m
As she watches her original dream come to fruition, Lomas says: “I achieved my property investing goals around nine years ago, and they were to build a passive income, which would mean I could choose when to retire.
I haven’t chosen to do that yet, but the point is I can, at any time, because of the property portfolio I worked so hard to build.”
Margaret Lomas
Lomas used equity from her own home
to start investing almost 20 years ago
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