When a property investment goes wrong
Buying an investment property is a big decision and serious commitment. So, it makes sense to want to do your due diligence and make sure you feel 100% confident before making a decision to invest. But for Ironfish North Sydney customer, Christine Ricketts, it was even more difficult to invest again due to a bad past experience.
“Before investing with Ironfish, I already had two other investment properties. The first was really good, not brilliant but steadily growing and performing. The second went very poorly. I was rushed in to it by a dodgy financial advisor. My gut said not to do it; but I allowed myself to be rushed into it. This experience really put me off investing in property again.”
Christine is lucky enough to have possibly one of the most fun jobs in the world. As Cellar Director of Cellarmasters, she gets to travel around Australia, tasting good food and wine for a living. As much as she loves her work, she is now at a point where she is thinking about retirement, and investing in property has always been part of her retirement plan.
“I’m 60 now, and I’m not retiring for another 5 years – although I doubt I’ll retire completely. But I want to retire comfortably. I don’t want to be living on the pension; I want to make sure I have enough to retire on.
“But I was very nervous about investing again after the last property. I’d also heard from the bank that at my age I wouldn’t be able to get a loan.”