As children, we take certain things for granted, don’t we? I remember thinking that things went in this order: first you go to kindergarten, then you go to primary school, then you go to high school, then you go to work or further studies, then you get a job, then you get married, then you have children, then you have grandchildren, then you grow old and die. To my young brain, everything was clear cut and had its rightful place. However, life experiences soon taught me that life is not that perfect in reality. I have a friend who had this same order of thinking as me. Penny achieved every step of that ideology, including a great career, except the part of marriage. She came close to marriage twice, but for some reason either on his part of her part they would break off the engagement. Each break up left her more jaded to the point that she would throw even more of herself into her career. When she reached her 40’s, she started giving up the idea of having children. Her hopes for marriage also started to fade.
With no prospects of a partner to share the rest of her life with, Penny started to worry about her future. Her sister, who is a financial planner, advised her to increase and diversify her investments instead of relying on a marriage partner to take care of her. Penny already had investments in shares and gold, so she decided to look for a unit or townhouse she could purchase and rent out as an investment property. She started by looking in Melbourne, but quickly realized that housing prices in this state was too high for her budget. So she checked online for affordable units and townhouses in the other states and found some in Brisbane that were affordable. She liaised with a real estate agent in Cannon Hill who was able to help her narrow down her search to three houses based on her needs, requirements and budget. Penny made a trip to Brisbane to inspect the three houses and chose the three-bedroom, two-bathroom unit, which was in a compound of four units. Her offer was accepted and Penny felt a sense of achievement.
The only problem was that she would have to be a long distance landlord because she had to return to Melbourne to work and her property management in East Brisbane. Fortunately for her, the company that her real estate agent worked for also provided. Penny hired them to take manager her rental property. They took care of everything from setting the initial rent level to collecting the rent to adjusting the rent. They were also responsible for finding the tenants, dealing with complaints and emergencies and initiating evictions. Penny is happy that her investment property is in good hands and that she now has real estate in her investment portfolio.