A young investor has moved to her parents’ house so she can continue building her property portfolio.
Liela D’Rose, 29, bought her first property seven years ago when she was a McDonald’s manager.
He now owns three investment properties but owes the bank more than $1 million after remortgaging and borrowing against his other homes as interest rates rise.
To help her cope financially, her parents Nilofer and Ashley let her live with them in Alexandra Hills, east of Brisbane, with her girlfriend of three years, Isla.
“My relationship with my parents is really strained,” she told Daily Mail Australia.
“There is such a big generation gap that they don’t understand what limits are, no idea, but my parents are fantastic, they are very willing to learn.”
“You must respect each other and respect each other’s space and commitment.”
Things are easier now that there is a one-bedroom apartment for Grandma in the back of the house where she grew up.
Liela D’Rose’s girlfriend of three years, Isla (pictured above) lives with her in a granny flat.
To help her cope with the financial situation, D’Rose’s parents, Nilofer and Ashley (pictured together above), let her live at their home in Alexandra Hills, in Brisbane’s east.
“We don’t have to bother them, it’s quite separate,” he said.
“For a few years now we’ve only had granny’s flat.”
Mrs D’Rose pays her parents $200 a week in child support and relies on rental income to pay her mortgages.
The last homecoming, nine months ago, also occurred after Ms D’Rose and her partner lived in one of their investment properties and carried out renovations before renting it out.
“We were in that constant state of renewal and chaos all the time,” he said.
D’Rose, who now works in human resources at Little Real Estate, bought her first investment property, a two-bedroom semi-detached house in Thorneside, in Brisbane’s east, for $245,000 in 2017.
He expanded his portfolio in 2022 by purchasing a three-bedroom house in flood-affected Kingston in Logan for $425,000 and also renovated that house with the help of his father, an electrician, and his brother.
This year, Ms D’Rose bought her third investment property, this time with her partner, in Nanango, north of Brisbane.
“What I have sacrificed in this investment journey is the lack of stability,” he said.
Tenants already live in this three-bedroom house, south-east of Kingaroy, which the couple bought just a few weeks ago.
Ms D’Rose now owes the bank $1.021 million after refinancing her first investment property in Thorneside to $380,000, while also paying off a $345,000 loan on the Kingston property and a $296,000 loan for the house of Nanango.
The Thorneside townhouse rents for $380 a week, the Kingston house rents for $700 a week and the latest Nanango purchase rents for $460 a week.
As the owner, Mrs. D’Rose has been conscious of not raising the rent too much.
“I’m not talking about extortion. My tenant in the Thorneside house has been there for the last four years and I’ve raised her rent a little bit. She’s a single mother, you just have to find the balance,” he said. saying.
“I’ve rented too and you don’t want to pay ridiculous amounts of money.”
The Reserve Bank’s 13 interest rate hikes in 2022 and 2023 are also stressful.
“On the other hand, investors are excited about these interest rates,” he said.
My only regret was buying a townhouse instead of a detached house and having to deal with corporations when bad weather blew a hole in the roof.
“I had a big problem with the Thorneside house with the hole in the roof and the corporate entity was very difficult to deal with,” he said.
“It was their responsibility, I had to chase them for a year to try to sort this out, it was very stressful.”
“Other people in the complex had their roofs fall in.”
The last move home nine months ago also occurred after Ms D’Rose and her partner lived in another of their investment properties and carried out renovations before renting it out.
Little Real Estate sales and marketing general manager James Kirkland said his colleague was an example of a younger buyer who recognized that being an owner rather than an owner-occupier was the only way to enter the property market.
“She is a great example of how the younger generation really thinks about their property investment strategy differently to previous generations – they have been pretty straightforward with the traditional method of saving a deposit, buying their first home and moving in. to her,” he told Daily Mail Australia. .
“The way the economy has been going and the affordability issues have really encouraged the younger generation to be more creative.”
Liela D’Rose’s ultimate goal is to eventually sell her investment properties and have capital growth so she can one day establish her own dog rescue sanctuary for stray pets in need of a home.
“I want to try to create some kind of passive income for myself later in the hopes of opening my own dog sanctuary and saving all the dogs,” he said.
“I want to live on a big piece of land and dedicate my time to helping animals.”
To pay her mortgages and pay her parents $200 a week on board, Ms D’Rose will also work weekends running a mobile vegan coconut ice cream business, I Should Coco, from a restored classic 1990s Volkswagen Kombi van. 70s.
She hopes the Reserve Bank of Australia will follow its counterparts in the US, UK, EU, Canada and New Zealand and start cutting interest rates.
“Sometimes Australia is a little behind in how we do things,” he said.
