The best Graeme Holm reviews are the ones that show that anyone can not only own their own home and pay off debt, but build for the future. Graeme and his team at Infinity Group Australia, say that is a combination of having realistic expectations as a young buyer, and having razor-sharp budgeting every month to help save money.
Two clients who know this winning combination and how well it works are Megan Andrews, 32, and Jeremy Craig, 37 of Perinth, who were buried under $37,000 of debt, after a lavish trip around the world and a dream wedding in South Africa. They had serious doubts they would ever be able to afford to buy a home.
They met with Graeme who offered help and solutions. With guidance, they were able to not only save money for their first home, but build a property portfolio with six homes, worth $1.5 million, in just a span of three years
Graeme showed them that the conventional route of buying a dream home, and working your entire life to pay it off, is tireless and antiquated.
“If you aspire to live in Bondi by the water, you might feel pushed out of a home but you’re better off starting with what you can afford,” he says.
What Infinity Group clients first learn, however, is strict budgeting. Megan and Jeremy needed to end their wasteful spending, to claw their way out of debt. “We were young spending anything we had direct access to. Travelling, shopping and eating out,” Megan said. “Our goals to own our own home was a lot more unrealistic than we thought. We knew that our spending had to change.”
With a strict savings plan firmly in place, Jeremy’s parents also generously offered to let them draw equity from their mortgage as a loan to pay the deposit on their first home. They used that money to purchase a modest property in Ipswich in southeast Queensland, followed by another home in Toowoomba.
Both of these early purchases were about $420,000 each but they were also dual occupancy, which was equivalent to buying four homes for the price of two.
While also living in a flat on Jeremy’s parents’ property, they were able to save even more money and purchase another dual occupancy home in Redbank. After three years, they now have a total of six homes, and Megan and Jeremy earn approximately $80,000 per year in rental income.
“All it takes is old fashioned budgeting. You’ve got to go back to basics, save hard, and delay gratification a bit,” said Graeme. Graeme and his team at Infinity Group educate clients on the value of every dollar and the importance of not spending outside their monthly income. Not only do you not pay down your debt, but you can get buried under credit card fees and interest as well.
This article was posted on the Daily Mail Australia as well as https://www.msn.com/en-nz/money/personalfinance/extravagant-millennials-who-splurged-thousands-on-a-lavish-wedding-in-south-africa-and-travelling-around-the-world-now-own-six-properties-and-reveal-how-you-can-do-it-too/ar-AAIHNEq