The book that ignited this couple’s passion for wealth-creation

“I love listening to stories. I love listening to couples or individuals who have a story and I always learn from those stories, [probably] more than … the experts that talk about lots of properties that they own,” he added.

Starting late

Simon and Vanessa have been in and out of the market since 1999 due to personal and financial reasons until, finally, they decided to hold on to their properties in Ingleburn and Brisbane, which they bought in 2013. After 25 years of marriage, they have only just begun their journey towards wealth-creation.

Had it not been for the inspiration brought by their fellow investors and the property professional from whom they seek advice, they would not have succeeded in re-entering the property market.

“Through your podcast [The Smart Property Investment Show] and others, The Property Couch and Investing Insights with the Right Property Group. I've gained a lot more knowledge and we're building a good team of professionals who'll help us acquire more properties in the future,” they said in a letter to The Smart Property Investment Show.

They also have their shared passion to thank for the continuation of their property investment journey.

Vanessa was initially the first one to inspire their desire to create wealth in order to secure a financially stable future for themselves and their children. Her lightbulb moment came when she got her hands on the book entitled “Rich Dad, Poor Dad”, an international bestseller by Robert Kiyosaki.

According to Vanessa: “The idea of changing your mindset really resonated with me and Simon and quite a few of our friends—that's where the journey started.”

“I was the one who was the driving force, probably 20 years ago now. We had some success and then ... It's been a bit of a sleeper … [until] we realised we've hit our 40s and [we got to prepare] for the future,” she shared further.

Upon realising that they are nearing their retirement, the couple agreed that it would be best not to be dependent on a limited income from their jobs so they could enjoy more life choices in the near future. After being in and out of the market since 1999, they have finally decided to hold on to their properties in Ingleburn and Brisbane, which they acquired in 2013.

While they may have started their journey a bit late, Simon and Vanessa believe that the experiences they have gained since buying their first property more than a decade ago will come in handy as they make their money work in the property market now.

Vanessa said: “I love the idea of making a generational change.”

“I think that window is fast closing for us because, as we've discovered along the way, property is not a quick buck, so we need to project quite a distance into the future—funny enough, it feels very critical now,” she added.

Smart Property Investment’s Phil Tarrant reminds budding property investors that there will always be opportunities in the market—you just have to know where and how to look.

After all, property investment is about “time in the market, not timing the market”.

Tune in to Simon and Vanessa Refalo’s episode on The Smart Property Investment Show to know more about what happened after they decided to sell each of their living properties and the challenges they faced with negative gearing before succeeding in the property game.

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