Do be engaged with the body corporate where appropriate, to be involved and direct maintenance and improvements as required.
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 30. A single parent with four kids including two-year-old twins and a six-week-old baby, Sharon was studying a science degree while struggling financially to support her young family.
“I found myself a job near Gladstone and for a period of seven months, worked full-time, and saved every cent I could, the kids and I lived very frugally, and rented an old house. Unfortunately, not long after moving the rents tripled with the mining boom,” Sharon explains.
Wanting to get out of the fluctuating rental market and missing the seaside lifestyle, Sharon moved to Hervey Bay.
“I decided to set up a savings account at a local building society with the bit of money I had saved from working. The bank manager said I was in a position to buy a house at the low end of the market with a five per cent deposit. I thought about the opportunity, knew there was risk involved, but my gut feeling was 'just do it!'”
Sharon’s first purchase was a five-bedroom brick house on a quarter acre block, near a primary school and local corner shop.
“The house had been an ex-rental and it showed. It desperately needed new paint, had holes in the walls, smelly carpet and was filthy, but I knew they were all things I could fix myself,” she says.
Renovating with small children is no small feat, describing this first renovation as “quite a challenge”, Sharon would do the prep work for painting in between playing, feeding and attending to her kids.
“I would do some painting at night and the rest when the older three were at school and my youngest was at daycare three days a week.” Sharon said.
Also studying for her science degree at the time, Sharon believes her organisational skills are what saved her.
“The one thing I did to make it all work, was organisation. I am very much a list person, so my list was made for each day and I would tick everything off as I finished my tasks.”
During Sharon’s time in Hervey Bay, she graduated, re-married and had another child. After six years and finding herself as a single parent again, she sold the house for triple the original purchase price and moved her, now a family of six, back to the Sunshine Coast.
“I could only afford to buy in Nambour, not my favourite place, but it was affordable,” Sharon says.
She purchased a high-set, three-bedroom home with a vision to build in underneath for extra bedrooms.
"This is the part of my journey where I learnt all the things not to do when buying and owning property. I hired a builder through a friend – not a good idea – he took all my money and never finished the job.”
Accepting it as a lesson learned, Sharon moved on to finish the renovation over a two-year period and after eight years in Nambour, Sharon was finally in a position to fulfil her dream of living near the beach by purchasing in Mount Coolum. "Through this whole journey I have used vision boards and positive affirmations, especially during times of stress. I strongly believe in having a goal, believing you’ll achieve it and putting the steps in place to reach it.
“I created a vision board representing what I wanted – a three-bedroom townhouse with a bush outlook, a balcony, a good sized grassed backyard and a 5-10 minute walk to the beach. This is now exactly where I live."
Sharon’s next step was to purchase an investment property. After researching on the Internet, attending property seminars and (regretfully) purchasing an expensive property-coaching program, she then learned of Property Club.
“I met Bridget Kraft through a mutual friend. Bridget soon became my property mentor and introduced me to Property Club and all of its free resources. I felt very supported by Bridget through my new property venture and just purchased my first investment property in Southport on the Gold Coast. I’m thrilled!” Sharon says.
Preferring property to shares, Sharon likes to watch the value grow with time compared to shares in a company, “which can be here today and gone tomorrow”, Sharon says.
“In my opinion, if property is purchased in a growth location, it will always increase in value, and if the value does drop, it is usually only for a short period.
“Many other investments are controlled by other people (whereas) property allows me to be involved directly.”
With her vision board currently set up with a goal of purchasing six more properties over the next 6-8 years, Sharon’s plan is to set herself up for retirement.
“I am driven to create wealth, so I can choose to work part- time before retirement age and pursue other interests and when I do retire, I won’t be restricted to just a minimal pension income.”
Well on track to her retirement goals thanks to her hard work and the support of Property Club. When asked if anyone can succeed in property investment, Sharon says anyone, even single parents or those with little money, can become homeowners and property investors.
“You just have to believe you can do it and be prepared to do whatever it takes to achieve your vision.”
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