PHOTO: Daphne Labour and boyfriend Jayke. Picture: Supplied
Feeling like there was no hope to break into the brutal Sydney market, the Millennials used this genius hack, which will net them $50k a year in profits.
Most people wouldn’t expect to have 27-year-old landlords in charge of 11 apartments, but that’s exactly what Daphne Labour and her boyfriend Jayke have done to break into the property market.
The couple, who have been together for eight years, found with property prices shooting up it was almost impossible to find a good deal, let alone their dream home in Sydney.
But with a goal to be more financially stable before moving in together the Sydneysiders decided to look for an investment property and stumbled on a genius idea.
“When looking at the investment properties around Sydney the rental rate was just so low for what you purchased, you were looking at 3 to 5 per cent, but then we saw blocks of units … and the rental rate is returning 15 to 17 per cent so that means we would have surplus money,” she said.
They uncovered a toggle on realestate.com.au that allows you to search for blocks of units and armed with a deposit of over $170,000 they searched for a year, including in states like Queensland.
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