Until 2007, Australian lawyer turned property investor Dominique Grubisa was living a millionaire lifestyle with a seven-figure business.
Almost overnight, her world came crashing down in a tsunami of bad investment and debt, leaving her family homeless and sleeping in her mother-in-law’s lounge.
But in the space of three years, Ms Grubisa ‘clawed her way back to ground zero’ by using the only asset she had left – her legal knowledge.
Inspired by her personal journey, the Australian wealth educator now protects the assets of countless investors, as well as championing financial rights for those struggling in debt.
Her wealth advisory firm DG Institute is predicted to turnover a staggering $25 million this year.
Speaking to FEMAIL, the best-selling author and wealth educator shared her journey from boom to bust and back again.
‘I started out as a solicitor, became a barrister and got as far as I was going with it – I reached a glass ceiling in terms of income,’ Ms Grubisa said.
‘There are only 24 hours in a day, and when I realised I would always be tethered to an hourly rate, I switched to strategically investing in property,’ she added.
‘I’d never seen a bad market and nothing serious had ever happened me financially. I thought the property could never go down, banks were lending whatever you asked for and I borrowed a significant amount of cash.
‘I blinked and the dominoes had fallen.’
The wealth educator said that her journey from debt to millions was ’empowering’
Ms Grubisa’s entire portfolio imploded, meaning she could not afford to build or rent out the properties she was planning to develop.
‘Rock bottom for me was going from millions of dollars in the bank to millions of dollars in debt.
‘We were homeless with three children living in my mother-in-law’s house,’ the asset protection specialist said.
‘Those were really dark days, and I would cry in my pyjamas when the kids went to school.’
But proving her resilience and tenacity, Ms Grubisa said there was only so long she could stay in this rut.
‘I saw you can lose absolutely everything, wealth that took years to build, your assets, your pride, your dignity – I even lost my friends.
‘The one thing I had left was my legal knowledge.’
Ms Grubisa started her own investment and financial advisory firm GB Institute
‘When the GFC hit I became the go-to-guru for a lot of people in debt, and I started to help other people along the same journey I had experienced,’ she said.
In Australia, there is a shortage of legal practitioners specialising in debt and asset protection simply because there is very little money to be made in these areas, Ms Grubisa explained.
‘At my level of expertise hardly anyone practices debt law but for me, it was a topic of personal interest, money aside,’ she said.
It was this personal interest which led Ms Grubisa to identify a gap in the market and start the self-titled DG Institute.
DG Institute’s mission is to empower everyday Australians to grow and protect their wealth by educating people about the property and protecting their wealth through affordable legal services.
‘Be aware that you can commercially negotiate your way out of debt,’ she said
Ms Grubisa also wrote a financial self-help book giving guidance to people in debt of any kind.
Her advice to anyone struggling with debt today is to get a second opinion on their financial status.
‘When people go to debt counsellors, they tend to be very problem-focused. They see things in black and white, so if you’ve made a contract, you must pay the debt and if you can’t, you declare bankruptcy,’ she said.
‘It’s not as clear cut as this. For me it was actually quite empowering to be in debt and work my way out of it.
‘Be aware that you can commercially negotiate your way out of debt – it’s what I help people to do, so consider your options before you make any rash decisions.’