Do be engaged with the body corporate where appropriate, to be involved and direct maintenance and improvements as required.
A concrete plan, good mentoring and a lot of patience can pay dividends when it comes to property investment, as Josh and Erin Filewood have discovered.
Adecade ago, Josh Filewood’s parents made the decision to join Property Club and, after witnessing firsthand
the ease with which they navigated the tricky landscape of property investment – and how the Club helped them every step of the way – Josh and his wife, Erin, decided to follow in their footsteps.
It was a sage move, and one that has seen the couple accrue three properties – two in Brisbane and one in Sydney – through the Club.
“My parents have been with Property Club for more than 10 years now, and so they introduced me to this type of investing. Once I understood the proven concept, I got started as soon as I could,” Josh explains.
Originally from Brisbane, Josh, who works as an operator for Glencore, and Erin, a medical administrator for Sonic Health Plus, now call Mt Isa home. However, they haven’t let the town’s remoteness hinder their investment journey. Instead, the Filewoods work closely with their Property Mentor, Jake Sewell, who happily answers any questions or concerns the couple might have.
“Living in outback Queensland, 1800km from Brisbane, there isn't as much opportunity to chat face to face – no home visits or walking into the office for a meeting,” Josh says.
“Jake has been a great help to us over the years. Our mentor support has been strictly via phone and email,
but we’re very happy to say he’s always answered any questions or concerns we’ve ever had. Having somebody more experienced there helping you through the property investment journey is really reassuring.”
As time has passed, Josh and Erin are increasingly finding their feet and picking up on the tricks of the property trade. For example, Josh says he’d only recommend property investment to someone if they were dedicated to doing it properly. Most importantly, he says, it’s vital to note property isn't a 'get rich quick' platform but rather one that pays dividends over time.
“You need to exercise due diligence," he says.
"Property investing isn’t for everyone. If you go it alone without the proper education or research, it can go bad quickly. Thankfully Property Club offers all that for free.
“It’s also been said many times before: you have to treat your property portfolio like a business. We’ve seen how important this is over the years. Get into good habits
early – little things like being organised and filing all your related documents correctly, following up on your property manager’s work, taking the time to read routine and monthly statements, etc.
“Essentially you have to understand and keep up to speed with everything there is to know," Josh explains.
Josh and Erin also believe in buying brand-new properties for maximum tax benefits and purchasing properties in different markets to increase their portfolio’s chances of strong compounding growth regularly.
With their beloved miniature dachshunds, Ezekiel and Esther, Josh and Erin are already making the most of the lifestyle their wise investments have afforded them. When they’re not spending downtime with their much-loved pooches, they're travelling – sometimes up to four or five times each year.
So, what keeps Josh and Erin motivated to keep investing?
“Looking towards our future keeps us motivated," Josh answers.
"Ultimately, we’re investing now to achieve financial freedom later. To one day be in a position to choose whether or not to go to work would be very satisfying!"
Property Club member and single mum to five, Sharon Anning, shares her property investment journey and ‘vision board’ method for success. Sharon Anning’s journey into property investment began at age…read more
Property Club member AJ Jones is living proof you don’t need dual incomes to establish a successful property portfolio. AJ Jones began her property investment journey at the tender age of 22. The…read more
Our mission is to help the average Australian learn the property market dynamics and discover the amazing opportunities that exist in real estate.