Latest news with #financialdiscipline
Daily Telegraph
a day ago
- Business
- Daily Telegraph
Clever teen act nets Aussie $5m on the side
A Sydneysider who started saving for his first property at just 14 has given an insight into what's achievable for lower income earners willing to make sacrifices and be disciplined with their spending. Jon Fulluck, now 37 and working as a software salesman, owns six properties across two countries – with his four Aussie properties having a combined value of roughly $5 million and total gross rental income of about $160,000 a year. It's a portfolio he said was made possible by clever timing, a willingness to take risks and laser-focus on saving as much money as he could. Mr Fulluck said knowing how to work the banking system further helped. He learned early on how to get brokers to work for him and find financing options he may otherwise have missed. 'Banks will happily lend you to your eyeballs but I've always been careful,' he said. 'The important thing is to get started. Do something as soon as you can.' He added that taking action – even with a limited income – was a mentality he adopted right from the beginning. 'I started saving when I was 14,' Mr Fulluck said, recounting the beginning of an 18-year journey marked by discipline, delayed gratification, and a refusal to follow a conventional path. 'I just saved from various jobs. I worked as a kitchen hand, delivered newspaper. Lots of dead end jobs. I didn't know much, but I knew and understood property always goes up in value. 'Both of my parents were teachers and I had seen them struggle financially. That was one of my main motivators.' Mr Fulluck, then based in the UK, bought his first property at 19: a one-bedroom unit in Essex. He still holds it today. Four years later, after an 18-month stint coaching tennis abroad and working at summer camps, he bought his second property — a four-bedroom house – again in the UK. He was just 22. 'That one has only got nine years left on the mortgage,' he said. 'Hopefully I've got a nice little nest egg sitting there in a decade's time that I can start enjoying.' He later moved to Sydney when was 25 years old and by 29 was eyeing out opportunities to get into the Australian market. At 30, a chance encounter over two glasses of wine at a vineyard led to his third property purchase in the NSW town of Orange – a scenic, food-and-wine-rich regional town with rising real estate clout. 'I actually knew Orange was always going to do well,' he said. 'The property I ended up buying was near a highly sought-after school and was on 900 sqm with future development potential.' He bought it for $407,000. It's now worth $700,000 and rents for about $600 a week. Mr Fulluck marked a turning point in his portfolio in 2021 with the purchase of his Sydney home — what he calls a 'milestone property' — funded by a work bonus. It's now worth $1.7 million and brought his property total to four. By 2023, he'd pulled equity from the Orange property and used it to acquire two more four-bedroom homes in Brisbane. Each of those Brisbane homes is valued today at around $950,000 and they produce $1500 a week in combined rent. He said the Olympics motivated his purchase in Brisbane and he used a buyer's agent to help with the deal. About 40 per cent of the value of the total Australian portfolio is equity, with his mortgage obligations accounting for the rest, he said. Michael Pell, managing director of Propell Property, said Jon Fulluck embodied the essence of a long-term investor. 'Jon didn't come from money,' Mr Pell said. 'You don't need to have plenty of money if you start with the right mindset. Mr Fulluck said one of the hardest parts of investing was staying the course through good times and bad. 'Sure, as an investor, you are living life with little disposable cash sometimes … but investing all of your cash means really good things in the long run. 'It can be quite stressful seeing how many zeros you have in minus against your name. I try not to think about it too much because I know I can always sell if I need to,' he said. His philosophy is part austerity, part clarity of purpose. 'If you don't do it, then you are just going to be living in the system, paying high tax, never having financial freedom, never owning any property and you'll just be part of the cycle.'
News.com.au
2 days ago
- Business
- News.com.au
Clever teen act nets Aussie $5m on the side
A Sydneysider who started saving for his first property at just 14 has given an insight into what's achievable for lower income earners willing to make sacrifices and be disciplined with their spending. Jon Fulluck, now 37 and working as a software salesman, owns six properties across two countries – with his four Aussie properties having a combined value of roughly $5 million and total gross rental income of about $160,000 a year. It's a portfolio he said was made possible by clever timing, a willingness to take risks and laser-focus on saving as much money as he could. Mr Fulluck said knowing how to work the banking system further helped. He learned early on how to get brokers to work for him and find financing options he may otherwise have missed. 'Banks will happily lend you to your eyeballs but I've always been careful,' he said. 'The important thing is to get started. Do something as soon as you can.' He added that taking action – even with a limited income – was a mentality he adopted right from the beginning. 'I started saving when I was 14,' Mr Fulluck said, recounting the beginning of an 18-year journey marked by discipline, delayed gratification, and a refusal to follow a conventional path. 'I just saved from various jobs. I worked as a kitchen hand, delivered newspaper. Lots of dead end jobs. I didn't know much, but I knew and understood property always goes up in value. 'Both of my parents were teachers and I had seen them struggle financially. That was one of my main motivators.' Mr Fulluck, then based in the UK, bought his first property at 19: a one-bedroom unit in Essex. He still holds it today. Four years later, after an 18-month stint coaching tennis abroad and working at summer camps, he bought his second property — a four-bedroom house – again in the UK. He was just 22. 'That one has only got nine years left on the mortgage,' he said. 'Hopefully I've got a nice little nest egg sitting there in a decade's time that I can start enjoying.' He later moved to Sydney when was 25 years old and by 29 was eyeing out opportunities to get into the Australian market. At 30, a chance encounter over two glasses of wine at a vineyard led to his third property purchase in the NSW town of Orange – a scenic, food-and-wine-rich regional town with rising real estate clout. 'I actually knew Orange was always going to do well,' he said. 'The property I ended up buying was near a highly sought-after school and was on 900 sqm with future development potential.' He bought it for $407,000. It's now worth $700,000 and rents for about $600 a week. Mr Fulluck marked a turning point in his portfolio in 2021 with the purchase of his Sydney home — what he calls a 'milestone property' — funded by a work bonus. It's now worth $1.7 million and brought his property total to four. By 2023, he'd pulled equity from the Orange property and used it to acquire two more four-bedroom homes in Brisbane. Each of those Brisbane homes is valued today at around $950,000 and they produce $1500 a week in combined rent. He said the Olympics motivated his purchase in Brisbane and he used a buyer's agent to help with the deal. About 40 per cent of the value of the total Australian portfolio is equity, with his mortgage obligations accounting for the rest, he said. Michael Pell, managing director of Propell Property, said Jon Fulluck embodied the essence of a long-term investor. 'Jon didn't come from money,' Mr Pell said. 'You don't need to have plenty of money if you start with the right mindset. Mr Fulluck said one of the hardest parts of investing was staying the course through good times and bad. 'Sure, as an investor, you are living life with little disposable cash sometimes … but investing all of your cash means really good things in the long run. 'It can be quite stressful seeing how many zeros you have in minus against your name. I try not to think about it too much because I know I can always sell if I need to,' he said. His philosophy is part austerity, part clarity of purpose. 'If you don't do it, then you are just going to be living in the system, paying high tax, never having financial freedom, never owning any property and you'll just be part of the cycle.'
Arab News
7 days ago
- Business
- Arab News
Saudi Aramco to tap bond market amid low gearing at around 5%, CEO says
RIYADH: Saudi Aramco will continue tapping bond markets in the future despite maintaining one of the lowest gearing ratios in the energy industry, according to a top official. In an interview with Bloomberg, Aramco President and CEO Amin Nasser said the oil giant's gearing ratio, a financial metric that compares a company's debt to its equity, is currently around 5 percent. That's significantly lower than the industry average, where many peers operate with levels between 15 and 20 percent. 'Our gearing today is around 5 percent — still one of the lowest gearing, you know. It's almost half of the average compared to other energy industry players in the market, and we will continue to tap into that additional bond markets in the future,' Nasser said. He continued: 'But we have a low gearing ratio, which still, as you consider it, is very low compared to any players in the markets.' The low gearing ratio, which reflects strong financial discipline and limited reliance on debt, is part of what enables Aramco to maintain stability amid market fluctuations. Gearing is commonly used by analysts and investors to assess a company's financial leverage, with lower ratios often indicating a stronger balance sheet and reduced financial risk. In the interview, Nasser also reaffirmed the company's commitment to maintaining high dividends. 'We have a strong balance sheet, and our dividend is one of the highest, the highest globally. We're expecting to pay dividends that go to the majority shareholder and other shareholders, which is the government, of $85.4 billion this year.' He said the company benefits from having spare capacity, which allows it to bring more barrels to the market. 'For every million barrels, that will have a huge impact on our net income. I would say it will give you a $10 cushion for every million barrels that you put into the market.' Nasser added: 'We have today close to 3 million barrels of spare capacity, so other companies do not have that to cushion any drop in prices. For us, we do have that spare capacity that is healthy, strong, and when you put it, it allows you to increase significantly your net income.' He emphasized the company's ability to withstand lower oil prices due to its operational efficiency and robust infrastructure. 'We are the lowest cost producer. Our extraction cost is $3, and it still is $3. And with low extraction cost, healthy balance sheet, and our investment that is continuing to be capturing opportunities that we have,' Nasser said.
Yahoo
26-05-2025
- Business
- Yahoo
Shaq Says 'My Parents Did A Great Job Of Raising Me With Horror Stories,' Shares The Smartest 'Money Move' He Ever Made
Shaquille O'Neal has worn many hats, including NBA champion, businessman, rapper, DJ, actor, and even honorary sheriff. But behind his success is a story rooted in humility, tough love, and financial discipline. In a recent interview with Ashley Nevel, Shaq opened up about the money lessons that shaped his life and the biggest financial move he ever made. 'My parents did a great job of raising me with horror stories,' he said. 'When you come from nothing and get into something, you have a decision to make: Do you want to stay in something or go back to nothing?' Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Those early warnings turned into lifelong habits. Shaq said he was determined to take care of his family, especially after asking his mom to quit her job. 'If I don't do what I'm supposed to do, my mother loses her house. That's the only thing I'm focusing on.' He also shared a moment that stuck with him from childhood. One day, his mother stared at a small house with admiration. As a kid dreaming of a better life, Shaq made a promise to himself: one day he'd buy her a house like that. And he did. While many athletes chase flashy investments early on, Shaq quickly learned the value of playing the long game. 'When I first came in, I was trying to get rich quick and failed on every investment,' he admitted. That changed after hearing Amazon founder Jeff Bezos say, 'If you invest in things that change people's lives, the return will always be rewarding.' Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — From then on, he focused on practical, impactful partnerships. 'It's not about money moves. It's about partnerships. It's about teamwork,' he said. Instead of starting businesses from scratch, he partnered with companies that already had the infrastructure, like his long-running deal with Icy Hot. 'I'm on my 18th renewal with Icy Hot.' The smartest move he ever made? Annuities. 'Somebody told me a word that I've never heard in my life—annuity.' He continued, 'People always say invest, but you have to know what you're investing in. I got so much money, let me put it away, and then this is just in case everything goes wrong, I can still collect when I'm 40, 45, and 50.' Shaq emphasized that education doesn't always mean formal schooling. 'Education means whatever business or opportunity you may have for yourself, educate yourself to become a master in whatever you're doing,' he said. And while the NBA legend is known for his big personality and sense of humor, he's serious when it comes to legacy. 'Everything I do is just based on family, education and being able to take advantage of opportunities.' Read Next: Nancy Pelosi Invested $5 Million In An AI Company Last Year — Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Shaq Says 'My Parents Did A Great Job Of Raising Me With Horror Stories,' Shares The Smartest 'Money Move' He Ever Made originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
11-05-2025
- Business
- Yahoo
Ex-Macca's worker's $200,000 warning as property portfolio exceeds $100 million
People often ask the biggest mistake you can make in commercial property. Mine? Assuming the property manager had it handled. That assumption cost me nearly $200,000 in lost rent and equity. Our residential portfolio was performing well. We'd just added a few multi-tenant commercial sites, and with a solid team in place, so we turned our attention elsewhere; growing Rethink Group, building a house, raising a family. Then came the shock: leases renewed below market rate, rent reviews missed, and rent left uncollected. One lease hadn't been increased in two years. It cost us six figures and it was entirely avoidable. Since then, I've relied on eight key principles to build our portfolio to be worth more than $100 million. Here's a snapshot for Yahoo Finance readers. Good investing starts well before you even inspect a property, it starts with your personal money habits. When I began investing, I worked multiple jobs including McDonald's, nightclub shifts, cleaning cars, and funnelled every dollar into savings. I wasn't earning a huge salary, but I was focused. That foundation of discipline is what allowed me to buy my first property early and keep scaling from there. Track your expenses ruthlessly. Know what's essential, what's not, and redirect every spare dollar toward your deposit or next investment. The power of compounding starts with your behaviour. Residential property investors often make decisions based on emotion, they imagine living there, they get attached. Commercial investing demands the opposite. This is business. You need to evaluate a property the same way a business owner would assess a new venture What's the return? What's the risk? How reliable is the cash flow? Switching to a commercial mindset was one of the most powerful decisions I ever made. Forget about location bias. The entire country is your marketplace. Think like a professional, not a hobbyist. Commercial real estate is too complex to wing it. You need the right team behind you and that includes a commercial property solicitor, accountant, mortgage broker, insurance broker, buyer's agent, and a great property manager. I once nearly lost a deal worth six figures because of a hidden clause it was my solicitor who picked it up and saved the deal. That moment reinforced that a good team doesn't just cost money they save you money. Don't use your residential contacts for commercial deals. They often don't understand the risks, structures, or tax implications. Not all properties are equal. One of the biggest mistakes investors make is buying the wrong asset in the wrong area, or with the wrong lease. I target essential service tenants, like medical centres, supermarkets, and logistics companies, because they offer stability and resilience in all markets. We've had national brands like ALDI, KFC, and Chemist Warehouse in our portfolio. They're not glamorous, but they're rock-solid. Always prioritise tenant quality, lease length, and yield. If the numbers don't work, walk away. Some of my best deals never made it to market. I wrote letters, cold-called owners, and hunted down off-market opportunities before anyone else knew they existed. In one case, I bought a property at a significantly lower price just by getting in first and avoiding competition. Great deals are created, not found. Build a network, be proactive, and don't be afraid to ask. Finance can make or break a deal. I once had to take a personal loan at the eleventh hour to meet settlement, not ideal, but worth it to lock in a property with huge upside. Commercial lending is different to residential. It's more nuanced, more relationship-based, and often slower. That's why preparation matters. Get pre-approved, know your serviceability, and have backup options. Delays kill deals. Negotiation isn't about being aggressive, it's about being prepared. I go into every deal knowing exactly what the property is worth, how it compares in the market, and what the upside is. That gives me the confidence to stand firm or walk away. I often submit offers late on a Friday. Agents don't like uncertainty over the weekend, and that pressure can work in your favour. Let data lead your offers, not emotion. And be willing to walk. Power is in the ability to say no. As I shared earlier, failing to audit leases monthly cost us six figures. Learn from that mistake and don't assume your manager has it covered. How to avoid my mistake? Audit your leases monthly. Never let a property manager renew without reviewing the market rate. You could lose six figures in equity and once it's locked in, you can't go back. Understand your tax structure. Whether you own as an individual, trust, company or through your SMSF, the tax implications are huge. Get it wrong, and you could face double stamp duty, lost depreciation, or tens of thousands in excess tax. Claim what you're entitled to. Depreciation, loan interest, travel, maintenance, even management fees these can all be deducted. Done properly, your after-tax yield can significantly boost your income. Commercial property is an untapped goldmine for Australians, but it's not for the set-and-forget investor. You need structure, discipline, and a hands-on approach. I've made mistakes. But I've also built a life of freedom and wealth by sticking to these eight steps. Learn from my experience, and you'll be in a far better position to avoid the $200,000 mistake and build a portfolio that works for you. Scott O'Neill is a prominent Australian property investor featured in AFR's Young Rich List three years in a row. He is an entrepreneur and Founder & CEO of Rethink Group a premium property investment group, host of the top commercial property podcast "Rethink Investing's Inside Commercial Property'', co-author of "Rethink Property Investing'' Australia's number one commercial property investing while retrieving data Sign in to access your portfolio Error while retrieving data
