Simon Bought 3 Properties in 18 Months: A Catchup
it has been one hell of a crazy year with everything that’s been happening with lockdowns and pandemics simon’s also had a super exciting year buying a house um i’ve had a pretty exciting year building up my business working out of the van as you can see i’m at the beach at the moment and so today me and simon are recording for the first time since i think february or something like that so we just wanted to do a bit of a chat catch up uh talk about what we’ve been up to over the last six months or so and talk a little bit about property in that as well so i hope you guys enjoy this hey simon how are you man yeah good good to be back i was just saying before as you answered the phone i’m like is that green hills behind you yeah it’s not too bad it’s not too bad today it’s like been getting warmer here each and every day like the sun’s coming out less windy so it’s been pretty clean and it’s just i sit here and i work and like on my lunch break sometimes i’ll go for a swim or sometimes we got too much work to do i’m like i can’t today but yeah no it’s been awesome ah it’s beautiful man it’s like 28 degrees up on the sunshine coast today um which is just it’s getting to that transition it’s like mid august and then it’s like all right winter’s over yeah so it’s it’s been awesome up here but yeah what a what a weird year i definitely don’t want to say that because it’s been the complete opposite for me i’ve had it i’ve had a really really good year to date so far but i think weird sums it up really well i think so as well i i was really worried that it was going to be a really hard year like the start of the year i kind of had my plan set for the year around like business and how things were going to go and then obviously the pandemic hit in like march and i was freaking out at the time i’m like oh my god i’m not prepared for a recession i’m not prepared for this but i kind of just worked my ass off through it it kind of ended up being a really good opportunity for me to kind of like find success in it and i’ve been really fortunate with my business that it’s still been able to run through it and i work from home anyway so when like lockdown happened it’s like i work from home anyway you know i was quite fortunate yeah yeah man my my years been a bit funny like at the start of the year i i sat down and i wrote down all of my goals and wrote down everything that i want to do and it was a lot of personal development focus i was looking to try and get it back into a bit more meditation and yoga and focusing within because 2019 was a massive year of investing for me buying two properties um so i kind of was like all right you know you’re 27 just take it easy for a bit now enjoy you know enjoy your life enjoy your new partners just move to the sunny coast and have a good time um you know we’re planning on moving out together and things like that and then um march comes boom coronavirus hits and it’s just like okay uh this changed my plans a bit and and now we’re sort of eight months into the year uh it’s been absolutely amazing i’ve still managed to do the personal development side of things which has been good getting into meditation a lot and absolutely loving it just kind of searching within and learning a bit more about myself and who i am and what i want to do and how i want to bring value to the world and what my values are because i haven’t had all of these other distractions and i think that’s common for a lot of people you’ve really had a lot of time by yourself and alone so even though you know that was that was an initial plan um it worked out really perfectly but then as soon as the corona virus hit as well i’m like oh well i guess it’s going to be another buying year as well because i just couldn’t see that opportunity fly by and you know i know it’ll it’ll come back in a few years time and i’ll go if i didn’t do something i i would have regretted it so i just needed to take advantage so i continued with the investment portfolio end up buying my third property with my partners has three properties in 18 months for me which was absolutely huge that’s insane who would have thought two years ago or even 18 months ago that you would be where you are right now no no definitely not me it’s all happened so fast and i’ve just been rolling with the punches and i think focusing on that personal development side of things and learning more about myself has really helped with dealing with those emotions and the rollercoaster that property investing is yeah let’s get back to like property but let’s talk meditation for a bit because this is something that i’m like trying to start doing and need to do more as well i can definitely i don’t know i go through phases where i have like a real clear calm mind and i’m you know know what i want and who i am and life is happy and then i have these moments where i get super anxious or just stressed out because with my business as well i don’t i don’t have to do anything every day like i don’t have clients or anything that kind of drive me forward it’s up to me what i decide to do but i set these targets for myself and if i’m not hitting them i get stressed out um you know and i can kind of i lose the big picture sometimes so you said you’ve been meditating a fair bit this year what have you been doing yeah so i kind of got into meditation just before i moved to the sunshine coast like four years ago probably now but didn’t really know what i was doing didn’t really know what it was about which now i realized that it’s not about anything no one knows right it’s about being with yourself um but it’s kind of been one of those sort of roller coasters and and it’s human nature we all have these minds you know like 50 000 thoughts a day run through our mind on average which is just insane so it’s completely normal to have all of that and go through different times where you’re feeling inflow then when you’re feeling a little bit anxious but what i’ve found is just a daily practice of meditation really really really helps with identifying those negative thoughts or um those negative emotions a lot sooner so for me um there’s i’ve incorporated in a lot of different ways and for people that are looking to get into it like meditation isn’t stopping your mind just don’t think that that’s what meditation is because it’s not even the monks that have been doing it for decades still can’t quiet that little lizard brain in inside of themselves so it’s not necessarily necessarily about shutting your mind up it’s just about focusing within and controlling those thoughts because they’re going to keep going but if you can control those thoughts it makes it a lot easier so for me i do yoga most mornings whether it’s five minutes 10 minutes half an hour um so you know that’s kind of connecting my mind my body and my breath which is a really good way to start the day you know moving your body around getting the oxygen throughout your body um and then just spending that time being sort of still within yourself so that that really helps are you still doing the cold showers as well yeah yeah definitely how do you do coffee how do you do your cold showers i do cold showers as well well i’ve been living at a unit that’s got two pools at the moment one lap pool and one um plunge pool lap pool’s heated but the plunge pool isn’t heated um so most mornings i’ll just depend like depending because i always will mix it up that’s one thing that i really need as well is i need variety in my life so you know some days i’ll do yoga some days i’ll just sit there and meditate some days i’ll go down and do some laps some days i’ll go and do a little workout but every single day i’ll get myself in something cold so it’s either the lat pool the plunge pool is my preference because it is a lot colder um so i kind of would just gee myself up you know 30 push-ups a few wimp-off breaths and then jump on in the pool and i’ll kind of sit in the pool for a couple of minutes at least really really good gets that body get your body firing get your mind fire and get you in a really good state so yeah i find i find it really helps when i can actually bring myself to do it either i do cold showers or down at the beach here the water’s cold at the moment so you go in and it’s like that’s chilly but but when i do it i always feel so much better after it but some days i just i don’t have the i don’t know the emotional strength to go through it i’m like no i’m not today and then i get in this routine of doing it when i’m doing it every day and it’s like okay i start to actually enjoy the cold yeah you do right yeah it becomes a habit yeah and i find it i find it gives me a lot more mental clarity and helps me with my day helps me focus be more productive you know build my business more so yeah yeah yeah i was listening to a podcast with uh lead hamilton who’s a professional surfer um he’s in his like mid-50s now and he looks like he’s in his mid 30s just super jacked like full positive optimistic kind of guy um but he’s kind of got to a point where he he treats it like his morning shower it’s his morning routine and now that i’ve been doing it for a long period of time now it’s just a habit and it’s just like you it doesn’t even almost require much thought nowadays it’s just like oh yeah that’s just what you do it’s just like having a shower to get ready for the day yeah i mean or like your morning cup of coffee or something you know you just don’t not do it um so so yeah that definitely really helps so that’s a warning but then meditation in the night time is is what i’ll do because i’ve got a pretty switched on mind like it’s always going it’s always chattering working in a higher intensity environment you know talking about big picture things constantly talking about the future with people you just gotta get yourself back to reality so every night i have like a routine where i do a little bit of stretching and i’ll finish it off with a um like a foam roll and and you know 10 20 minute meditation just to quiet my mind get myself ready for sleep leave the day behind me know that i’m focusing on rest right now because i need the rest i need the sleep to then be ready to go again tomorrow so um it’s just been awesome to change it from a practice where you need to to push yourself to do it into it becoming a habit where if i don’t do it i feel as though i’m i’m not doing the right things for myself and not keeping myself in a in a flow state yeah and so you just naturally do it now it’s easier to do it than not yeah yeah it really is so so what happened with you this year buying a property because you did you did talk about i’m not going to buy one this year i’m just going to live the good life you know you’re going to save up a bit but probably not invest this year because you bought two within 12 months yeah so i kind of followed the um the two properties to financial freedom strategy i went i acquired my two foundational properties that i’m going to come back and convert them into dual income properties now me and my partner talked about getting a place for ourselves and we’re looking in the market just to put the fields out there check out a few different places and when coronavirus hit you know we weren’t planning on doing anything this year not at all we moved into a new apartment in january and we signed up for a 12-month lease because we’re like we want to be in here for 12 months it’s a mad part you know we want to just experience that but then when coronavirus hit i saw this amazing opportunity i was starting to inspect some properties starting to put the feelers out to a few agents and then i went to this open for inspection at a property um up here on the sunshine coast in karamundi one of the beachside suburbs up here and i met a real estate agent and i’m like you know this isn’t really what i’m looking for but i’m looking for this that and the other still keeping my investment cap on because i do i probably will convert it into an investment over the next few years but it’s a really good foot in the door property so i wanted a nice big piece of land i wanted to be on a super quiet street i wanted to be in a property that’s low maintenance but has lots of renovation potential because i wanted to be able to add some value to the property myself not pay for it um and it obviously needed to be at the right price because my service ability after buying the first couple of properties was a little bit short so i couldn’t i couldn’t go anything over 600 thousand dollars so she actually said that we’ve got this property it’s off market the guy’s an investor he’s had it for like 20 years um he’s just looking to offload it now um there is some tenants in the property and they’ve got a disabled child and they couldn’t do open for inspection so i’m like cool this sounds like a really amazing opportunity like when can you get us through it and it took us two weeks to get through the property and even have a look at it i didn’t even get through it the first time my partner taylor did and she’s like yeah this is this is the one um so we ended up fighting for it i talked to my mortgage broker i’m like can i get this done and he’s like it’s gonna be tough and it’s gonna be tight but let’s give it a crack so i ended up getting it under contract of 555 000. 556 000 sorry and working through the motions now it was a four bed one bathroom low set brick and tile house it’s in a little cul-de-sac so it’s in a really nice quiet family-friendly street there’s nice trees around the property it was on a 990 square meter piece of land as well um just around the corner are two parks one dog park one like little wreck park with a skate park and a basketball hoop and some barbecues and things like that so it’s a really really cute area and then about 400 meters away from the property maybe less maybe 300 is um the one of the school one of the primary schools that’s ranked in the top three in the area i think it might be number two or three in the area so that obviously draws in a lot of people as well there’s shops that are like 500 meters from at the beach is about 1.5 k’s down the road so it’s just like tick tick tick tick tick and i’m just like all right let’s give this a crack um worked through the motions fell over on finance first round went to another mortgage broker mortgage broker’s like yep i can get it done fell over on finance again because my partner works with virgin australia as a flight attendant and she lost her she got stood down so she’s been on job keeper and um i heard that some of the banks were willing to accept job keeper but none of them were willing to accept um the the flight staff yeah so it was just a bit of a weird one there so we ended up having to fully walk away from the contract um because we couldn’t finance it did you lose your deposit as a result no because i did i put a 21 day finance clause in the contract so this all happened over 21 days and then i could walk away from it legally from the property so i got my deposits back but then renegotiated to get it back under contract um in just my name um because the issue was having my partner’s name on the contract so just got it under my name had to pay an extra four thousand dollars for it so paid 560 um which you know was a bit unfortunate but i i was happy with that and went through the motions and then finally got it unconditional now as all of this is happening there was another property just around the corner that was four bed two bathroom unrenovated as well on a thousand square meter block and it sold for about six hundred and five thousand dollars so i don’t think there’s much difference between these two properties so i truly saw it as though we’re buying this property for like thirty thousand dollars under market value um so i was completely fine with with the way that that all worked out and yeah ended up selling in the beginning of august and um the tenants have now moved out and found themselves a new place and i’ve had some um trainees in there doing a little bit of renovation work break down some walls we’re going to redo the flooring we’re going to paint throughout the interior and just do a little bit of landscaping and um yeah we should be moving in there over the next couple of weeks once those renovations are done so dude that’s so exciting congratulations pretty hectic couple of months with all of that going um i think i would have ended up in a mental institution after the last two months well didn’t you settle on your investment property in like december or january or something yeah well ended uh start of february 2020 actually yeah so you’ve done all of that within like a six month period it’s been um yeah it’s been it’s been wild and it’s been crazy but um you know i’m fortunate enough to do this 40 40 hours a week um so i knew i knew it was a great opportunity i knew i was buying below market value i can see the writing on the wall with what’s happening up here on the sunshine coast at the moment as well market’s really hard when we were doing some of these open for inspections this is in may and june and um there’s 20 plus groups coming to the open for inspection lineups outside of the property because of the restrictions with coronavirus and properties selling multiple offers and this is in the middle of it all so it’s really been hot up here so we’ve been um so we’re really excited to have have that opportunity and is it pretty chilled out up there now like with coronavirus and stuff is queensland all back to normal completely man like you know just looking out the window here and there’s people walking up and down the street you know everybody’s out and about you go down to the beach just by the office and there’s everybody out at cafes restaurants some baking on the beach taking their dogs for a walk you know you can go out to bars and restaurants now no worries at all it is uh it really does feel like business as usual up here again and it has for quite a while now as well yeah whereas i guess sydney’s in this middle ground like we’re not as bad as victoria we haven’t had to go into lockdown or anything but everyone’s worried that you know we might go the same way as victoria so people wearing masks out to the supermarket or you know out when they’re shopping there’s still cafes and everything open but people are like more separated you just gotta be you gotta be more careful and try and stay away social distancing still a pretty solid thing down here yeah i think a lot of that’s kind of stayed up here as well though like people do keep that distance and people are you know using the hand sanitizer all the time and um you know it’s been set up really well with with all of those things um yeah everyone’s still just walking on eggshells up here a little bit as well so what’s um what’s next for you for the next half of the year you know you’ve bought two properties this year already you get another two before the end of the year or um well i’m actually planning to knock down my first house at the end of the year and and rebuild a brand new jewel are you ready to take that step hey yeah yeah i i will be by the end of the year so i’ve got one of my mortgage brokers working on finance for that at the moment just figuring everything out and yeah i’m planning to knock the house over which is probably going to cost me about 20 grand and i’m planning to build a really nice property on it so um something similar to what benny’s doing at the moment actually um he actually bought the house about six six houses down from my one so we’re gonna yeah he was i think we were recording the other day and he’s like we’re gonna have to get your property in that street because we’re turning into monopoly um so i’m gonna do something similar a nice big high set four bedroom two bathroom with the study um massive block which is going to be great and then i’ll do a separate two bed one bathroom granny flat as well so it’s going to cost me about 350 to 370 000 to execute and um once i’m finished out i’m expecting it to to revalue quite high um a little bit over the purchase price of the house plus the knock down and rebuild and it should be returning about 800 dollars per week in rental income will that make you a positive cash flow definitely positive cash flow i’m assuming it’s going to be about in including depreciation benefits i should be positive cash flow about 20 000 per year from from just the one that’s epic will that offset the rest of your portfolio yeah 100 i don’t really have it we’ll pretty much eat almost pay for for my house as well yeah so that’s that’s a plan toward the end of the year fingers crossed it all goes well i just got to keep working really hard and saving that money it’s been a couple of years of lots of lots of sacrifice to be able to do this but because i haven’t been doing any traveling or going out much any longer it’s been quite easy to to stack those chips away and my partner’s a bit of a tight ass as well she’s always she’s always on my case for spending money and grateful for it now because we’ve got the three houses and we’re going to have a brand new one toward the end of the year as well and that’ll be so exciting when you’re in that like cash flow neutral cash flow positive situation as well where you don’t have to stress about that and you still like you still don’t have kids you don’t have private school to pay for or anything like that so time it’s the time to be doing it and that’s why we’re doing all of this you know that’s why we’re taking so much action that’s why we’re working our asses off and and um making the most of the opportunity that’s in front of us right now because the reality is it’s not going to last forever we do want to have kids within the next few years so i just really need to work work hard and you know get these properties executed the goal is by the end of next year is to have both of the brand new dual locks built plus our own home so at that point the portfolio should be about 20 000 positive cash flow um i mean 40 sorry 40 000 per year positive cash flow which gives us a lot more choice and things like this as well yeah that’s super exciting so wow what a year for you hey let’s catch up about man yeah like my ears just been more more stable than that like less big things that have happened and more just like consistently building um upon my business and building upon my income and so yeah i had a lot of debt from the separation and everything like that and it’s kind of behind on income had to work part-time in a cafe for a while stopped that when coronavirus sort of hit and just gone full time on my business and just been through peak season for one of my businesses and so the income there during you know june july august is kind of the best time of the year and so that’s done really well and performed better than i expected and it’s kind of just i’m on that upward trajectory i was in a position i went like this time last year i was in a position where i couldn’t really afford my life like i was like struggling to make ends meet struggling to pay the bills i like didn’t know you know if i could pay rent um or if i’d had to leave the place that i was in whereas like this time a year later like business is going so much better because i’ve been working on it for a year i paid off a big chunk of debt i’ve got a big buffer in place so you know if income doesn’t go as planned i’ve got six months to work something out so i’m not in dire straits or anything like that and hoping to pay off most of my debt by the end of the year so probably you know have it paid off next year ideally and then be looking to buy property after that it’s funny how everything happens for a reason right you know like you went through all of that last year to kind of reignite the fire then coronavirus comes in and goes you’re not working in a cafe ryan you’re not you’re not a barista mate you’re you’re an online social media man like get into it work your ass off and do what you were what you were put here to do and then you did that and now you’re reaping the benefits for it and you know now you’ve got multiple income streams because i know a couple of years ago you were super focused on the on property side of things as well and the others kind of fell off a bit so it’s epic to see that you know all of them are coming forward now and i’ve been talking to so many of your followers recently and i’m just having the most amazing conversations with them from all over different parts of australia and it’s um it’s been such a good year i think for content for for pumped and for on property as well yeah i’ve been getting more real with my content as well which some people like and some people don’t like some people some people get annoyed at me for it we don’t we’re not we’re not filming these videos for them yeah but some people like i really appreciate you just being real and where you’re at and it’s been really helpful you know because i think for a long time my life was just like on the upward trajectory and it’s just goes life gets better and better and better and i think it’s more realistic that life goes up and down and so most people don’t share those downs and so i was kind of sharing them throughout the last year starting to get better now and so i’m back on that up but i think it’s been really cool to share that sort of stuff and some cool stuff happened out like working out of my van said my van up to work out of here has been so good i’ve met really cool people as well working down at the beach you leave your door you leave your door open and everyone just comes and talks to you they all want to check out your van and see how it’s built i met some i met one lady down the beach who like she works out of her van as well and does like videography and does like fine art photography and stuff as well so you know been making friends and other business people working on advance too so yeah it’s been sick but i think i i think we’ll leave it there it’s kind of a bit of an update just a bit of a chill get us in the vibe of recording again it’s been so long and it’s good to catch up hell yeah man hell yeah it’s so good to hear that you’re just crushing it again and and we’re both both on the same page again and just ready to to take this world by the whole ones totally and in our next videos we’ll talk more about you know what happened i’d like to talk more about what happened like with when finance falls over because i’m sure that happens to some people and also the idea of like buying a house that you’re going to live in to turn into an investment property because you actually need to think a few steps ahead which a lot of people don’t do so we’ll cover some of that sort of stuff in future videos thanks so much for tuning in everyone and until next time stay positive
Watch The Video:
It has been a hot minute since I’ve caught up with Simon Everingham from Pumped on Property and in the last 6 months he’s bought his own home which is super exciting.
In this catch up we talk about what we have each been up to in the last 6 months and Simon talks about his latest property purchase.
0:00 – Introduction
1:30 – It’s been a weird year
4:35 – Meditation and cold showers
10:50 – Simon bought his 3rd property
18:11 – Life with corona virus
19:30 – What’s next for Simon?
23:00 – Ryan’s update