Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged 24 (1 Viewer)

[nerdasdasd]

http://www.news.com.au/finance/real...ortfolio-aged-24/story-fndban6l-1227403856040

MEET one of Australia’s youngest property tycoons who’s proving at just 24, that it is possible for young professionals to get on the housing ladder.

Stephanie Brennan, from Belrose, has six properties worth more than $2.3 million — including three on Sydney’s northern beaches, and two in Queensland.

Miss Brennan said her success proves that it is still possible to buy property in Sydney.

“However that doesn’t mean I was handed everything. In fact, that drove me further to succeed on my own two feet.”

Though she had around $100,000 in savings she persuaded her mother to go guarantor for $60,000 with the Belrose family home — meaning she didn’t pay any deposit at all.

Next, she bought a plot of land on a nature reserve in Glencoe, Scotland, with $50,000 left to her by her grandparents. She’s never visited but land in Scotland comes with a title, which makes her a Lady.

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Thoughts?

 

[enoilgam]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

Wouldn't she be in significant debt though. Either way, buying property in Sydney isn't hard if you have someone to back you. As she sort of said, her parents are wealthy and went guarantor and that makes a huge difference (more so than them giving you money).

 

[Drifting95]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

Are you fishing nerd?

 

[obliviousninja]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

Fishing for the LGs

 

[Graney]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

she seems like a wanker

 

[Graney]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

At age 20 Stephanie Brennan was a policy advisor to Bronwyn Bishop.

I genuinely believe Bronwyn Bishop is the embodiment of evil, short of all the actual criminals in Australian politics (ala eddie obeid), she is the most evil person I know of in Federal parliament. She embodies everything I detest, the antithesis of anything I believe is good in the world.

I know there is a bandwagon of disliking Bishop since she became speaker of the house, and debased the independence of that role. But I have held this understanding of Bishop for more than 10 years, I have not paid much attention to her career as speaker, her acts pre-speakership convinced me of her sinister Nature.

I like and respect some members of the Federal Liberal party. Bronwyn Bishop represents all the worst aspects of that party.

Now, in Bishops defence, one possible redeeming perspective is that she's an old coot, from a different time and culture, and naturally is entrenched in certain flawed attitudes and beliefs, like many elderly people.

This makes a 20 year old voluntarily becoming her policy advisor all the more condemnable.

For 20 year old Stephanie Brennan to voluntarily associate with and advise Bronwyn Bishop is more morally objectionable than Bishops actions herself, as Brennan should know better.

Therefore Stephanie Brennan is the embodiment of evil. Worse the Bronwyn Bishop. Worse than hitler.

 

[seremify007]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

Saw this being shared on FB and couldn't help but think- wait a minute, she had someone else be her guarantor, and she also inherited a decent sum of money. I'm not sure why this is newsworthy, but hey, everyone is writing about Sydney's favourite topic of housing affordability.

 

[Smooth Operator]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

In other words it's easy to be a 'property tycoon' with great privilege, an inheritance and a little bit of luck. Too easy!

 

[isildurrrr1]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

Wouldn't she be in significant debt though. Either way, buying property in Sydney isn't hard if you have someone to back you. As she sort of said, her parents are wealthy and went guarantor and that makes a huge difference (more so than them giving you money).

anyone with a mortgage is in 'significant' debt. But that debt becomes a moot point when your property values increase 20% in a year. If you can't service that debt worst thing for you is to sell it and keep a tidy profit. When banks foreclose in Aus, all profits still go to the buyer minus other costs.

Having guarantors makes the huge difference in that your interest rates payments are a lot less than other people in your same position. Banks give lower interest rates to wealthier people because they are a lot lower risk of default.

 

[brent012]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

But that debt becomes a moot point when your property values increase 20% in a year.

Not when, if. Just because property has been a safe investment historically, doesn't mean it always will be.

 

[seremify007]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

Australia has very different mortgage laws to say, the US. There's no walking away (easily).

 

[enoilgam]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

If you can't service that debt worst thing for you is to sell it and keep a tidy profit. When banks foreclose in Aus, all profits still go to the buyer minus other costs.

I think a lot of people underestimate the cost of buying, selling and owning property. Stamp duty, agent's fees, lawyers fees and other fees (believe me there are a lot), not to mention interest, council rates and strata (if applicable) make home ownership an expensive proposition. Your property would have to go up by a significant margin in order for you to see a profit. Real estate is a long term investment, making a short term profit even in this market is far more difficult than people realise.

 

[seremify007]

Re: Sydney property investment guru Stephanie Brennan has $2.3 million portfolio aged

I think a lot of people underestimate the cost of buying, selling and owning property. Stamp duty, agent's fees, lawyers fees and other fees (believe me there are a lot), not to mention interest, council rates and strata (if applicable) make home ownership an expensive proposition. Your property would have to go up by a significant margin in order for you to see a profit. Real estate is a long term investment, making a short term profit even in this market is far more difficult than people realise.

Yep that's why need to budget 105% of the purchase price at least. Even a relatively inexpensive law firm won't be cheap when it comes to doing the review of contracts, settlement, strata search, etc...