How 28yo built three-property portfolio in three years

In the space of just three years, Tyler O’Brien and Chanel Slijderink have acquired three investment properties.

Unlike most people in their 20s, the savvy young couple have put their money in bricks and mortar — and haven’t been afraid to get their hands dirty while doing so.

“There are affordable properties out there,” Mr O’Brien, 28, said. “They just require a little bit of effort. When we bought our first place, it was the cheapest place in Ipswich.”

Tyler O’Brien and his partner Chanel Slijderink have an investment property in East Ipswich. Picture: Liam Kidston.

That was in 2022 when they paid just $225,000 for a two-bedroom townhouse in East Ipswich — a suburb that has been identified as one of the best areas to invest in property based on capital growth and rental returns, according to new PropTrack research.

It was “disgusting”, but they knew they could afford to spend about $60,000 renovating it and now lease it for $400 a week.

“We’re under market rent,” Mr O’Brien said. “We should be getting $450 to $470.”

And, he estimates the property has made 150 per cent capital growth since they bought it.

This two -bedroom, East Ipswich townhouse sold for $225,000 in 2022. Image supplied.

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“A lot of people are too focused on lower maintenance, a better property, a better area,” Mr O’Brien said. “We found the tiles ourselves, we bought all the joinery, we sourced the stone. We put in the effort for the reward.”

They also suggest looking at the price-to-earnings ratio of a suburb before investing in it.

“For example, when you look at Brisbane, if you’re an individual, based off the median income, it’s 16 times earnings, whereas in Ipswich, it’s roughly 12 times,” Mr O’Brien said.

“Once people can’t afford Brisbane, they’re going to look for a substitute, and the subsitute for us was Ipswich.”

Inside the East Ipswich townhouse before it was renovated. Image supplied.

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The couple’s next purchase was a commercial warehouse in Sumner, which many saw as a risky move.

“We wanted to diversify, and wanted to understand commercial leasing better as individuals,” Mr O’Brien said.

“It doesn’t hurt to learn, and we found it easier in a way (than residential). The tenants are simple, it’s a business transaction, no emotion involved.”

The cashflow they generated from that purchase helped them buy their third property — an apartment on the Gold Coast.

This four-bedroom house at 16 Spring Street, East Ipswich, is on the market for offers over $679,000.

But he concedes times have changed, and getting a foot in the door now is much harder than it was just three years ago.

“We got in early,” he said. “We literally scraped together a (20 per cent) deposit and that was only $45,000, which wasn’t unreasonable.

“It’s different now. I’m worried for my siblings. It’s out of control in Ipswich.”

While the pair both work in the property development industry, Mr O’Brien said that had not given them that much of an advantage.

“It did help us to understand the market,” he said.

“One way you can see if an area is going to be a good investment opportunity is by looking at government infrastructure plans, which are public information.

“The South East Queensland regional plan came out many years ago and we saw Ipswich was meant to be a principal regional activity centre.

“We also noticed the amount of schools and childcare centres that were expanding in the area.”

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