Mon Sept 18 – Prue Muirhead Winner of Property Investor of the Year 2009

Since winning the Your Investment Property Investor of the Year Award in 2009, Prue Muirhead has powered ahead to achieve what many only dream about.

When Prue Muirhead blazed a trail as winner of Your Investment Property’s Investor of the Year Award in 2009, little did she know how much her life would change forever.

While she was already an avid property investor before being crowned Investor of the Year, Prue says she was blown away by the amazing opportunities that came her way following her win.

“The impact of winning the title has been amazing,” says Prue. “My husband, Andy, encouraged me to enter many times before I did, and I am so glad I listened. Since then, not only did I continue my investments and grow the portfolio, but other opportunities also started to come which I don’t believe would have happened if I had not won this award. It’s very rewarding and fun, too!”

“I now teach about property investment at TAFE College in Adelaide, and I’m really loving it. I meet so many interesting property people with a variety of strategies,” she says.

Prue and Andy have also started a property management business, Muirhead Property Management, to help fellow investors get the best returns on their property investments. “It’s a small business and we handle everything to do with adding value, tenants, and property management. I do this with Andy, who has a background in law enforcement [SA Police] and as a licensed builder.”

After winning the award, Prue and her family travelled Australia in 2010 and 2011, home-schooling their children and looking at properties all over the country.

“I have continued to purchase more property, and I have grown the portfolio quite well. I’ve added another six positive cash flow properties. My portfolio now sits at 18 in total, and each and every one of those is positive cash flow,” she says.

Prue’s inspirational story

In 2002, we were faced with the reality of having to rent out our home to collect the rent and live in a caravan. Despite the fact that we were running a small business, our lender had told us we could not afford to live in our own home. We had 30 days to make this crucial decision. We also had no super and no savings.

Then I heard an advertisement on the radio: ‘Having trouble getting finance and in business?’

Out of desperation, I rang the company, which was able to offer us a low-doc loan. We refinanced our home and managed to stay in our own house, thank goodness!

A few years later, I read a book about buying one home a year for 10 years, then selling off a selected number in retirement and living off the rents of the remaining properties. This sounded like a great idea, so I purchased a small home around the corner from our family home and started from there.

My decision to invest in property was purely for the purpose of building our retirement fund. We had no super because we were running our own business, and I was really worried that   we would have nothing for the future. I didn’t want to rely on the government to pay us a pension. I also knew that when our small business was sold, it would not sell for any more than the equipment value, which would leave us with virtually nothing.

So we started actively investing in 2006. I have only ever invested $22,000 of my own cash. The rest has been the bank’s money through equity use.

Our current portfolio is now valued at over $4m, with a net worth of approximately $2m. We have always borrowed 100% of the value of the properties and made sure the investment properties were positively geared, so they would not be a drain. I believe that buying negatively geared properties ties you to a job, but positively geared properties allow you out of your job.

We only ever paid a deposit for our first home (approximately $22,000).

Check out the recent – 7 minute segment from Today Tonight
https://www.todaytonightadelaide.com.au/stories/house-flip-flop

Don’t miss  Prue as she shares her inspiring story and more including:

  • how she got started
  • how to keep buying properties on low income
  • how to buy positively geared properties
  • buying blocks of units
  • renovating for profit
  • getting much better rental returns
  • managing your property manager…
  • Prue’s overall Property Strategy
  • She will share her biggest mistakes, regrets and lessons learned
  • Her most successful property transaction
  • What she would do if she started property investing all over again
  • The 6 things she wish she knew about finance
  • The 10 things she wish she knew about picking the right property

 

Make sure you don’t miss this inspirational and informative meeting to get some great information relating to property investing.

Remember, you are always welcome to bring along friends or relatives who are interested in property investing – it is all about networking with like-minded people!

Location 207 Frome Road (cnr Wakefield St) Adelaide CBD. Century 21 office. Please ring the doorbell on arrival at 207 Frome Rd. Parking is available on adjacent streets.
Map Click here for map
Date 18/09/2017
Time Arrive from 5.30pm for 6pm start to 8pm then Bocelli for networking

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