Investment Girls

Reporter: Natalie Bonjolo

Kirsty Duphney says “I'm 27, and I'm financially free”

Jasmina Catak says “some people are lucky, they win lotto or inherit wealth, but generally it takes generations, so I've just started”They're breaking all the rules. Young women worth a fortune before they're hit thirty. Unlike the Paris Hilton's of the world, who are born into wealth...these property Princess's have built their own empires. Jasmina Catak says “I haven't done the exact figures but my equity would be well over a million dollars“

A self made millionaire at 27, Jasmina Katac has made her fortune the old fashioned way, with bricks and mortar. “What really helped me was writing out my goals and sticking them on the fridge at home and saying ok this is what I want to achieve in family life and this is what I want to achieve in business” When we first met Jasmina, she was just 23, and already well on her way to an early retirement. Four years later, thanks to the biggest property boom Perth's ever seen, Jasmina's sitting on a goldmine. “Yes I have made smart decisions , so it's not pure luck, but things have leaned my way” With many families, now struggling to afford their first home, Jasmina's just snapped up her seventh, not bad for 27.

Since buying this three by one, twelve months ago, before the boom went berserk, it's gone up almost seventy percent, From $258 000, to $430 000. Jasmina Katac says “my strategy has been to purchase properties that need a bit of revamp rather than renovate, I've rejuvenated you know paint, floor coverings, and I've instantly been able to get some equity“This was Jasmina's first dabble in the housing game. A $100 000 dollar unit, back in 1996, when she was only 19. It's now worth more than $300 000, but to Jasmina it's worth a million bucks...she used the equity in that home to buy the nextand the nextand the nextyou get the picture.” It's just having the info and courage to take that step a lot of people know things or learn things but just don't take that step so it's a combination of knowledge and action I guess“

“When I first bought my first property I was 19 or 20 somewhere round that age” across the Tasman, 27 year old Kirsty Dunphey has a lifestyle, people three times her age would envy. “I want to feel like if I want to go off to Paris next week that would be great if I could do that, and I want to make sure my family don't want for anything”

Kirsty wasn't born with a silver spoon in her mouth, or a rich Daddy. At 19 she was flat broke, by the time she turned 23, and Kirsty's was a self made millionaire. “I certainly wasn't born into wealth when I first started investing when I started my business my parents were bankrupt and we had next to nothing” Kirsty bought her first property for $33 000, a one bedroom unit. Within ten years, Kirsty turned that first tiny investment into an empire...she owns 12 homes in Tasmania, two more in Melbourne...and 6 real estate agencies. “Sitting down and saying ok this property can get you this much in rent, this much benefits and ok that's a good investment...that's fun” Kirsty's won so many awards for her entrepreneurial success, she's hot property herself. Her autobiography's a top seller, and she's in demand on the speaking circuit. “Anything I can do that helps young people get closer to their goals that's great a total rush” but not everyone shares her passion, both Kirsty and Jasmina have their fair share of knockers who say they're going to fast, too young.

Kirsty says “investing whether it's in a business or in a property, your own education that leads to financial freedom and financial freedom leads to do things a lot of 20 year olds wouldn't”Jasmina says “I don't think I'm a greedy person, I just think I am trying to plan for my future, and as a lot of people know the market is more expensive and if I hadn't of purchased when I had, I would be finding much harder” but the good news is, both agree it's never too late. so if your planning on starting out in the property game, Jasmina and Kirsty have some good advice.

Jasmina's top tips are:

Go for a suburb with lots of feasibilities

Buy a house with land, they appreciate quicker than units

Try and buy for less than the median price at the time

Make sure you get professional advice before you sign

Do your own research

Jasmina says “it's definitely not rocket science and as I said we've had people that have done well, and they don't even work in the industry“

Kirsty suggest before you leap into an investment property:

Do your homework

Don't buy over the internet without checking out the property first

Buy with your head, not your heart

And go for suburbs with good growth potential

And go for a property which has a high yield...

Basically, your rent should cover your costs

Kirsty says “as long as I know that the income coming in can service that debt I don't have to sit up at night thinking oh my god how I pay the mortgage” Since selling her real estate agencies, Kirsty's looking for new opportunities. Jasmina's also branching out, even buying into go-kart business. At 27, they've already made their millions, but whether your 16 or 60, they say it's never to late to start.

Kirsty says “nobody's too old or too young; it's just something that you have to put a bit of extra effort into, just treat it like a hobby, do your research, do your homework”

Book: Advance To Go

-Collect $1 Million

Author: Kristy Dunphey