How He Built a $3M Property Portfolio

In this video, Casey sits down with Chris Dunne to break down the real story behind his property journey — and how he’s built a $3 million property portfolio and become almost a millionaire on paper through smart investing and long-term strategy.

Chris shares how he’s achieved approximately $660,000 in growth in under 2 years investing with us, what his portfolio looks like today, and the key decisions that helped him accelerate his results.

Transcript

Getting Under Contract And Approved

SPEAKER_01 0:00

Yeah, I th so I think what happened was you got it under contract and then from there you could get the lending piece because you knew what that purchase price was.

SPEAKER_00 0:07

Yeah.

The Victoria Purchase And Cash Flow

SPEAKER_01 0:08

Um and where it landed, what you'd have left over. We got the pre-approval sorted and then we rolled on to that third one. Yeah. Um so what was that purchase?

SPEAKER_00 0:16

So the next purchase was Victoria.

SPEAKER_01 0:20

Yeah.

SPEAKER_00 0:20

And I wanted a so just like uh the other Brizzy purchase, I wanted another granny flapper. That was like because I knew I had two growth properties and I just wanted to increase my cash flow or have the opportunity to increase my cash flow when the time was right. Yeah. And I didn't give you much of a budget to work out for what I wanted and where I wanted. Yeah.

SPEAKER_01 0:41

I think you wanted a massive block too. I think like you were looking at some like thousand thousand meters squared, which it sometimes is that delicate balance with the budget, right? And being realistic.

SPEAKER_00 0:51

Yeah. Don't ask, you don't care. Yeah, yeah. But anyways, you uh you got the job done.

SPEAKER_01 0:56

It's about a 700 meter squared.

SPEAKER_00 0:58

Yes, 770, I think, sort of 800. But um ticked all the boxes. This one was a lovely renovated home. Yeah. So it was easy to sign a contract on that. Um got a good purchase price, I reckon. The purchase price on that was actually six hundred and twenty-five thousand. Valuation now that's moved pretty much straight away too, and already at six hundred and sixty thousand. Pretty good, happy with that. And that the market hasn't moved yet.

Loan Structure LVR And Rent Reality

SPEAKER_01 1:24

Yeah, so it was it's only just it's only we're in the exciting one to watch. So you obviously did 80% lend loan 500k. Yeah.

SPEAKER_00 1:33

Um very lucky because I I it was a tiny bit over what I could afford.

SPEAKER_01 1:37

Yeah, but the brokers pulled through and got onto loan, which was because I think we were running off maybe like 600 or just over 600, but got this one, and I'm like, have a chat, let's see if we can just push it a little bit. And I think you were gonna maybe put a little bit of cash into it.

SPEAKER_00 1:51

I was gonna do this purchase regardless. I knew it was a good one. Um, that was the whole plan, but it's the last minute thing they got on the banks to pay for it.

SPEAKER_01 1:59

Which is awesome, right? So again, interest only, little bit of market movement, went in with an 80% land, and now that L VR sitting at 76 and a half, let's call it. Yeah, renting for 415. Yeah, and that's just part of Melbourne, right? Rents are quite lower.

SPEAKER_00 2:15

Very quick so compared to other properties in the area, like this.

Portfolio Growth Equity And Leverage

SPEAKER_01 2:18

Yes, yeah, yeah, and I ask you happy with that just to get a rent a quick. It's got a lovely renovated house, but he well presented, yeah, free will. So, in so insummation across the portfolio, do you want to run through what the capital growth was we've been able to get you across those properties today?

SPEAKER_00 2:33

Yeah, so just from your properties alone, six hundred and twenty-five thousand out pretty much.

SPEAKER_01 2:39

And what's that? Like end of two thousand and twenty-three, it's roughly around two and a half years.

SPEAKER_00 2:43

Well, it's January, January 2024.

SPEAKER_01 2:46

Yes, when we settled yet. So a couple of years is you can't you can't do that going like you can't make that or save that going to work, right? Even if you're making a monster.

SPEAKER_00 2:56

There's not enough hours in the week. There's no not going to change your time for money and get them numbers.

SPEAKER_01 3:00

Yeah, 100%, man. Um so what what's your gross portfolio position sitting at?

SPEAKER_00 3:06

Right now it's at three million.

SPEAKER_01 3:07

Yeah.

SPEAKER_00 3:08

Um oh and five thousand off being a millionaire, I guess, on paper. We'll we'll round it out. Yeah, we'll round it up. Million dollars in equity. Um, yeah, so the debt debt level is two million uh LVR, 66%.

SPEAKER_01 3:22

Then your total capital growth inclusive of obviously that regional one, 712.

SPEAKER_00 3:27

Yeah.

Bitcoin Deposit After A Life Detour

SPEAKER_01 3:28

Um, so you're pretty you're sitting in a pretty comfortable L VR position, right? Like 66 um percent. And as time goes on, that's gonna reduce, and you've obviously you've pulled some cash out of a couple of those. Let's just touch on for your second one in Brizzy, how did you get the deposit on that one for part of it?

SPEAKER_00 3:47

Yeah, that was fun. Um so I bought Bitcoin. I was actually, I'll go, I'll go back a little bit. I was into motorbikes and I was on the way home from work one day, and uh car cleaned me up on the side of the road, uh, broke my hip, and I was I was well not in not the end of the world, but it's it it actually had a negative effect on me as a person because the business that I was running at the time didn't I was like I had all this time sitting alone, I didn't know what to do with myself, and I was just like parting with friends and just having a good time. Yeah. Lost interest in working as hard as I was, it sort of pushed me away from that, and then I ended up getting it an insurance payout, which I blew racing motorbikes, blew most of that money, but I kept just enough of it by the Bitcoin, yeah. And yeah, thankfully, so I was always trying to invest, I guess you could say, and yeah, invested in the Bitcoin and right uh right when I needed the money, the Bitcoin had went up a nice bit, so I cashed that out to get that property. It was pretty good.

SPEAKER_01 4:52

Yeah, and you're more comfortable with like property than Bitcoin now, like 100%.

SPEAKER_00 4:56

Yeah, the Bitcoin didn't go up that much. Yeah, yeah, yeah. If I if I still had that Bitcoin now instead of this property, like the big one Bitcoin has not grown$220,000.

SPEAKER_01 5:06

Yeah, it's so true, right? So yeah, and then you got the leverage pace, yeah.

SPEAKER_00 5:10

And I originally didn't want to sell it at the time to buy the property. I um I was because I knew there was still a bit more growth in that cycle, and I didn't want to and I had to make the decision. I just sold it. I've just tried not to over I didn't overthink it once I sold it, I just believed stopped looking at the price and moved on with it. And like it worked out pretty good anyway, because the property just kept going up when I bought it, so it was just as exciting as holding but cleaner.

SPEAKER_01 5:34

With the experience with us, and we kind of touched on it before, but how would you how would you say the experience with us in comparison to that other company you work with? What what's the difference there?

SPEAKER_00 5:45

It's a big difference, that's for sure. Um I'm obviously come back to you. I'm still working with you now, and I'll tr continue to work with you in the future. Uh it's been a very good experience. Your quality piece is what I'm I love about you the most. I think it's just brilliant that you you genuinely hold to that proudly. Um it's paid off for me. Like they're all good quality properties. They think you when I when we made a plan together, we sat down and discussed what I wanted and what you think I should get. And we came to an agreement. That's exactly what I did get. Like rem that's why I was bringing up earlier about the Lucas property, wasn't what we agreed on. And that it's not not not that was a bad thing, but like honouring your word thing builds a trust, you know. You know you want to get what you're paying for then.

SPEAKER_01 6:30

Yeah. It's just so important long term for that desirability piece. That's why we just stick to it.