For anyone who has dared to dip their toe into the Australian property market and run away screaming, this story is for you.
Staggering property costs in Australia’s urban centres have all but felled the Great Australian Dream of being a homeowner. Most young people that don’t have access a cash deposit – whether from parents, lenders, or otherwise – have pretty much given up on ever being able to purchase their own property.
But then you hear a story like this, and a small glimmer of hope remains.
Meet Scott and Mina O'Neill. Now almost 30, the young couple were just 22 and 23 when they managed to scrape together the deposit on their first home back in 2010. When they first decided to invest, they had just $15,000 between them - but spent the next three years scrimping and saving for the deposit on their first home.
The rundown property was on the outskirts of Sydney and bought for $480,000. That was house number one.
Six years and 25 properties later, Scott and Mina boast a property portfolio worth almost $10 million.
Scott! Mina! You guys!
The son of an accountant and a property investor, Scott has always had a keen interest in growing his wealth. In fact, he made his first $50 trading in Telstra stocks at the ripe old age of eight.
Mina, on the other hand, is the daughter of Greek and Egyptian immigrant parents and has had a strong work ethic drilled into her from a young age.
“I was brought up in a family where a dollar could be two dollars if you put your mind to it,” she said to News.com.au
The couple has used their capital growth from each property to fund the deposit on the next house.
"The first property is definitely the hardest and the second one is the second hardest, and so forth,” says Scott.