How single mum Jenny Mole went from novice investor to successful development private lender (Part 1), with Jenny Mole – Ep. 81
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For the latest episode of this bonus series of the property investing journey, Mike is joined by single mum and experienced property investor, Jenny Mole, to talk through her journey from highly leveraged novice investor through to private lender for a property development deal.
In part one of this two-part episode, Jenny shares her story of buying four properties in quick succession with her partner at the time, only to find herself a single mum deciding which properties to hold on to, and how to do it. Faced with a high level of debt and minimal security, Jenny forged ahead despite the doubters around her.
Showing true resilience and a determined mindset, Jenny went on to maximise capital growth and leverage the equity in her portfolio to create new opportunities for herself. In this conversation, Jenny and Mike talk through the steps and decisions that Jenny made along the way. Jenny explains how she recognised the opportunities around her, and notes that while she may not have had access to a lot of resources she worked hard to gain knowledge and experience to help her on her journey.
Jenny goes on to explain how she released equity in her portfolio just as a new opportunity presented itself to lend funds to a developer in her network. This foresight has led to even greater possibilities and it’s exciting to hear how Jenny has overcome challenges to achieve such success in the property field. This inspiring conversation is filled with valuable insights that you won’t want to miss.
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Mike is joined by single mum and experienced property investor, Jenny Mole, to talk through her journey from highly leveraged novice investor through to private lender for a property development deal. In part one of this two-part episode, Jenny shares her story of buying four properties in quick succession with her partner at the time, only to find herself a single mum deciding which properties to hold on to, and how to do it
What we cover in this episode
Talking to a layperson about property investment (ie not a buyers’ or sales agent)
Jenny’s experience of relationship breakdown after buying four properties together
Looking at available options and taking opportunities when they arise
Releasing equity to make the next move
Jenny’s path to private lending
The power of a good network
Balancing the costs of consultants against the investment return
“Just basically looking at what you have available to utilise and what’s available being offered to you from the external environment and maximising those two in any given moment” Jenny 5:45
“I didn’t have lots of things, I didn’t have anyone to give me guidance, I mean I had people around me saying what are you doing this is crazy, I had my dad shake his head when I told him I bought my 4th property” Jenny 7:55
“My resources were less in some aspects but then I built resources in other aspects to make up for it, so I built knowledge, I built what was available free to me and things like that” Jenny 15:20
“I would just ensure that I was well positioned to take an opportunity when it came along and I I just knew that it was there ready to go” Jenny 18:00
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The Geared for Growth property investing podcast was created by Mike out of a desire to provide value to his property investor clients. The idea is to source Australia's leading property investment experts and find how they and their clients are achieving exceptional results. The podcast is open to anybody interested in learning how to invest and the strategies you can apply to achieve exceptional results. You'll hear from buyers agents, mortgage brokers, strata managers, accountants and other professionals all sharing their insider knowledge.