Why this property investor chose to self-manage all of his six assets
Julian Lancey has spent years building his property portfolio to ensure a financially secure future for his family, and after acquiring six properties to his name, he still chooses to make the most out of it by managing all his assets by himself.
As he went through his property investment journey, Julian made sure that his all of his investment properties are in Sydney—aside from it being a good location in terms of demand for living spaces, the capital city is also where his principal place of residence is located, which makes it easier for him to be his own property manager.
According to the property investor, his experience as a real estate agent has taught him to be more careful about bringing other people on board on his journey.
“I’m not interested in giving my properties to a property manager because I’ve worked in real estate and... I believe that the best way to look after your assets is for you to do it and not get an agent to do it. If you’re capable of doing that—physically capable and smart enough and have the time and have the skills—you should,” Julian explained.
While he admits that self-managing is easier said than done—it is definitely time-consuming, among other things, especially for a father of a little girl—he has decided to continue going down this path throughout his journey.
Aside from the comfort brought by the fact that he knows all the incoming and outgoing in his portfolio, Julian also appreciates the opportunity to save on cash as well as the handyman skills he has learned along the way.
He said: “It feels like a job… I’m a teacher now and [people ask me], ‘Do you want to go back to real estate? Do you want to be a real estate agent again’ but I feel like I’m one now… All my places are furnished [and] I’m constantly making sure that they are okay. Every year, I’ve got new tenants to put in or something to fix—I’m proactive.”
His advice to budding property investors is that nothing could be too hard if you are driven by the passion to succeed.
“It’s not that hard, with anything you put your mind to—that’s what it comes back to… When people buy properties, that usually is one of the biggest investments in their lives, so why would you get someone else to look after your property?” Julian concluded.
Tune in to Julian Lancey’s episode on The Smart Property Investment Show to know more about the strategies he uses to keep his portfolio costs down, why he’s buying 17 sq m studios, and what he’ll do if it all goes belly up.
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