14 hours ago
Single mums reveal how they became property investors
For two Victorian single mums, a novel approach to property investment is helping to ensure their financial future.
Melbourne-based Eda Property founder Anissa Cavallo, a single mother herself, works with many solo parents across Australia to help them get into rent-vesting.
This involves renting where you want to live, or can afford to, while investing in a home that suits your budget and then leasing it out.
Ms Cavallo described rent-vesting as a good option for some single parents as 'it's just more affordable from a cash flow perspective'.
'It also means that we can live near the schools that we want to live in or near our friends or near our family without worrying about affordability,' she said.
For single parents concerned about entering the property market, Ms Cavallo said that being willing to work was the first step, in order to start saving money.
'You just have to get the right advice and take the plunge, there are so many options available to people these days,' she said.
One of Ms Cavallo's clients is Sarah Markwick, 48, a part-time business development manager with two daughters.
Ms Markwick, who was a stay-at-home parent while she was married, rents in Melbourne's eastern suburbs.
She has bought an investment property in Melton South and is planning to build another one in Bendigo, with Ms Cavallo's advice.
Ms Markwick has previously owned and sold six homes, initially saving up for a deposit for the first home and making her way from there.
The Melton South house is the seventh abode she has bought but her first investment property.
'I didn't follow a traditional path, I focused on buying in areas with growth potential – sometimes it paid off, sometimes it didn't,' Ms Markwick said.
'I actually took a loss on one home to pursue a better opportunity, but overall I came out ahead, which allowed me to buy the Melton South property.'
Ms Markwick started on the path to rent-vesting to develop investment opportunities to help support her during her retirement.
'As a single mum without a second income … I wasn't going to get what I needed through working,' Ms Markwick said.
She added that it was important for single parents not to compare themselves to others.
'My advice to other single parents: have a plan, be patient, and educate yourself on all the options out there,' she said.
Another single mother and client of Ms Cavallo is Brooke Smith, a 42-year-old entrepreneur who spent re-entered the property market after spending years focused on parenting and building up her businesses – a 3D visualisation agency specialising in real estate, Lucid Vue, and a networking platform dedicated to sport and wellness, The Gambit Club.
She rents in Melbourne's south east and has purchased a Strathtulloh block where she is planning to build an investment property.
Ms Smith said that her method to saving a deposit was simply 'putting money aside consistently to make it happen'.
She's is aiming to build a small portfolio of investment properties, hoping to secure three properties across the next three to five years.
Her involvement in real estate through her own business has helped to make informed decisions and spot opportunities early, she said.
'For other single parents, my biggest tip would be to back yourself and play the long game, even small, consistent savings add up,' Ms Smith said.
'And don't be afraid to explore non-traditional path ways like rent-vesting – it's about finding what works for your life, not anyone else's version of success.'
