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Melissa Morgan is not your average property investor. She cleverly took advantage of the introduction of the first home owner’s grant and bought her first home at the young age of 18. Despite her parent’s misgivings around taking on debt, Melissa went on to purchase a second property soon after and from there she was hooked.

Fast forward twenty years and her commitment and passion for property has led to her own property management firm, Progressive Property Australia. It’s also enabled her to work on projects of her choosing and indulge her love of supercars.

Mike is joined by Melissa in this latest episode of the Geared for Growth podcast to share her journey and also talk about the state of the current market as we emerge from COVID. Together they discuss how tenants’ wish lists have changed as a result of a reprioritisation forged by lockdowns and what that means for the rental market.

With a diverse and impressive academic background, Melissa details the main drivers she believes are required to be successful in property investment, and the importance of appointing a strong property manager.

Make sure you tune it to this bonus episode of the property investing journey for an inspiring story and some practical advice on getting the most out of your property investment.

Here at MCG, we are passionate about creating a forum and education series for property owners and investors. We do depreciation differently, and offer a set rate for Replacement Cost Estimate reports. A first in the industry. Join our clients saving more on their tax today  https://www.mcgqs.com.au/

Podcast Transcript

Melissa Morgan is not your average property investor. She cleverly took advantage of the introduction of the first home owner’s grant and bought her first home at the young age of 18. Despite her parent’s misgivings around taking on debt, Melissa went on to purchase a second property soon after and from there she was hooked.

What we cover in this episode

  • Melissa’s story of falling in love with property from an early age
  • How delayed gratification and hard work has paid off
  • The fundamental truth of property investment
  • The current state of the market and a tenant’s wish list
  • Melissa’s four step process for increasing rents
  • The importance of communication in property management
  • Melissa’s best tips for engaging a Property Manager

Quotes

“I did always have an interest in property, I was always very hands on and my parents dragged me through a lot of homes when they were looking to buy a home so I had that in the back of my head.“ Melissa 3:02

“It comes back to the consistency and the passion. So, it helps when there’s a community around you to continue on that consistent journey.“ Melissa 11:34

“I think the sales market has definitely cooled, especially properties that have any kind of flaw or fault to it is now becoming harder to sell. But in the rental space which is where I’m mainly in, it’s actually started to improve quite dramatically since the start of the year.“ Melissa 13:13

“Look for an agency where the staff are loyal and happy, because if they’re happy they will treat the tenants with respect and everything will run as it should.“ Melissa 23:13

Links mentioned

https://www.linkedin.com/in/propertybuyer/

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