Sydney-based couple SCOTT & MINA O’NEILL retired at 28 after building a $20 million commercial property portfolio in just 10 years. They also set up their own business, to help thousands of others on the same road, and in this edited extract from their new book they share some insight on how you can do it, too…
Thirty-one degrees. Sun on my face. Sand between my toes. Life was pretty relaxed as we lay on a beach on Kos, in the Greek islands. It was 2016 and Mina and I were relishing a six-month break from Australia. We thought we’d hit the jackpot. I had retired from my day job at age 28. At that time we owned 25 residential and commercial properties scattered across four different states.
A Sydney couple who built a staggering commercial property portfolio worth more than $23million within ten years have opened up on their success and shared insight into how others can do the same.
Scott and Mina O Neill, 34 and 33, bought their first residential investment property at 23 soon after completing their university studies and gaining full-time employment.
Since then, the couple have taken calculated risks and implemented strategic investing strategies to grow a portfolio of 33 properties spanning across four states and turning over $1million each year before mortgage payments.
Scott, who grew up in the Sutherland Shire and was originally an engineer, told Daily Mail Australia their success stemmed from a lightbulb moment that made them look beyond the backyard and into business properties.
Scott and Mina O’Neill have a $20 million property portfolio.
Property by Scott O’Neill 22nd Apr 2021 12:06 PM Creating a $20 million plus property portfolio doesn t happen overnight. It doesn t happen in your own backyard. And contrary to what many think, it doesn t happen with residential property anymore. This is our story of how we built a $300k passive income through investing. And how you can do the same. Starting out: 2010 In 2010, Mina and I were looking to purchase our first investment property, however there were constant doomsday warnings of a 30 to 40 per cent price drop. I knew that I needed more information, so I educated myself. I spent hours reading thousands of property comments, web forums, and devoured every property book I could find.
How Aussie couple turned $60k into $20 million qt.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from qt.com.au Daily Mail and Mail on Sunday newspapers.