A man who bought and sold his way to financial freedom in less than ten years said there is nothing complex about becoming successful in the property market.
Ben Everingham saved enough by age 24 to buy his first two investment properties and has now bought and sold 11 properties and built his dream home on the Sunshine Coast, aged 33.
He said the secret to his success and foundation behind his company Pumped on Property is applying a ‘simple strategy’ which he swears ‘is not rocket science’, Yahoo7 reported.
Ben Everingham (pictured) saved enough by age 24 to buy his first two investment properties and now, aged 33, has bought and sold 11 properties and built his dream home
He says the secret to his success and foundation behind his company Pumped on Property is applying a ‘simple strategy’ which he swears ‘is not rocket science’ (Ben with wife, Lisa)
‘We’ve bought $200m worth of property in the past three years through that business for clients with a very simple strategy, which is: buy close to the city, buy quality and buy at the right time. It’s that simple,’ Mr Everingham said.
The self-made success story said it all came down to taking money saving seriously and urged others to look at what they can do from a realistic perspective.
‘Move home for 12 months and save a deposit; pay yourself first. Young people tend to spend first and save what’s left over. I bought my first five properties earning $1,000 a week. If you earn $1,000 a week after tax, pay yourself $300 and then figure out how to live off the $700 you have left,’ he said.
‘Yes, it may take a few years to get a deposit together, but once you start saving, you reach a threshold where you have about $20,000 in your bank account and you’re no longer tempted to dip into it – you look at that and want to see it grow, and that becomes a powerful motivator.’
The self-made success said it all came down to taking money saving seriously and urged others to look at what they can do from a realistic perspective
Mr Everington said the feeling after seeing $20,000 of savings in your bank account should keep you from being tempted to dip into it
He said an important factor was paying yourself first: ‘Young people tend to spend first and save what’s left over. I bought my first five properties earning $1000 a week’
Mr Everingham took a major blow to his savings during a trip to America – he blew $12,000 of his hard earned cash, but said he doesn’t regret it.
After graduating university with a business management and sustainability he went into IBM’s global graduate program as a project manager.
He then followed the girl who would later become his wife and mother of his two children to Queensland, where he now owns his dream home on the water.
In partnership with his mother, wife, brother and sister, Mr Everingham wants people to know they are only ever two investment properties away from financial freedom.
Mr Everingham (left, with wife, Lisa) took a major blow to his savings during a trip to America – he blew $12,000 of his hard earned cash, but said he doesn’t regret it
After graduating university with a business management and sustainability he went into IBM’s global graduate program as a project manager