AWARE - A Business in a Book. Lucille Orr
$300,000.
Another young woman who bought a unit from me at Henley Beach approached me after nine months to sell it for her. I did for a profit of $35,000. This profit paid for her honeymoon. In 2009 she rang again telling me she is now a mother and asked for assistance to sell six adjoining properties owned by herself and her mother.
Real estate in South Australia has been so much fun since late 2000 when I got into the industry. We are one of the few states left in Australia where you can still buy an investment property and positively gear it, which means the rental return is higher than the mortgage payments and other associated costs with owning property.
My son Steve’s unit is providing him with a healthy monthly income above his mortgage payments. It’s great that his investment property is now contributing to his lifestyle because he’s refinanced it three times initially to buy a car, then equipment for his photographic business and in 2008 to convert our city warehouse into a modern photographic studio.
Why Real Estate?
It’s not about houses, shops, units and land; it’s about fellow human beings and their needs. I find people enlightening, intriguing, withdrawn, crazy, honest, fascinating, fun and everything in between. I’m never bored.
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