Latest news with #propertyportfolio
News.com.au
5 days ago
- Business
- News.com.au
Gen-Y dad flips $270k shack for luxe waterfront home
Millennial dad Jordan Strudwick has pulled off the ultimate Covid upgrade, swapping his first home in Ipswich for a $4.2m waterfront property on the Gold Coast. Mr Strudwick recalls 'feeling like King Kong' in 2020 after pocketing $40,000 from selling the shack he bought two years earlier. Now, buoyed by the pandemic boom, the 32-year-old and his wife, Jana, have a property portfolio valued at more than $10m, including a luxury home with a pool in one of Queensland's most coveted locations. The couple's investment journey began in 2018 with the purchase of a three-bedroom post-war house in Raceview for $270,000. They have since acquired ten properties and sold six, leveraging equity and profits to expand their portfolio. 'It all just starts with one,' said Mr Strudwick, a business owner and father of two children aged 2 and 5 months. The founder of Strud Property Group has capitalised on huge growth in the Ipswich region, where his business is also based. 'We were fortunate that we owned three properties when we went into the boom, and everyone who sold then made $200-300,000 so that gave us a start to go into some bigger properties,' Mr Strudwick said. 'Everyone says, 'you got lucky with Covid' – but we also had the courage to buy before Covid when Ipswich prices weren't moving much at all.' Pool builder's insane pay day from empty block flip Massive penthouse sale as beachfront tower unveiled 'Tense' auction at riverfront mansion Now, as head of a company with 70 team members, Mr Strudwick encourages other young people to make the market work for them. 'We push our young team members to purchase their first home because that dream of ownership may nearly be impossible in 20 years' time unless you are from a family with money, or an ultra-high paying job,' he said. 'In Ipswich, you can still purchase a home sub-$600,000 with the government's 5 per cent deposit scheme so you'll need $30,000. 'It is hard to do this while paying rent, but that's also an excuse because that coffee a day, the cigarettes, drinking on the weekend all adds up.' Starting out with a $50,000 personal loan to kickstart his career in real estate, Mr Strudwick decided to use $15,000 of that as 5 per cent deposit on a first house. 'I just remembered being so poor — I only had a mattress on the ground,' he said. 'I lived in its original 1960s condition — pink walls and no water pressure — and sold in just under two years. I made $40,000 and thought I was King Kong because back then, nothing was happening in the Ipswich market.' Staying humble has been key to his success, along with recognising the work and risk it takes to build wealth. 'I've been fortunate that I've never lost money, but I'm grateful to have a great team around me advising me on debt,' Mr Strudwick said. 'Always be planning forward for your next move. Find out what your home is worth and how you can leverage your debt. Make your money work for you.' A key lesson – 'stick to what you know', he said, admitting commercial property hasn't been the windfall he was expecting. 'Just because you can doesn't always mean you should. 'If you want shorter term capital growth, residential is where it is at.' The Strudwicks are now planning to rebuild their portfolio by selling most of their assets to pay down the family home, then aim to put funds towards flipping older canalfront homes, eventually moving into larger scale development. With Queensland home prices still rising, Mr Strudwick said buyers could expect an uplift of 15 to 20 per cent by the end of 2026. 'With the Olympic Games coming to Queensland, we're entering a once-in-a-generation window of opportunity. 'Infrastructure, population, and investment are set to surge and that means real estate in SEQ is set for massive growth,' he said. For first-home buyers, Mr Strudwick advised keeping emotions at play when deciding what to offer. 'Figure out your three prices – your bargain price, your middle, 'okay, I'd pay that price', and most importantly, your walk-away price.'
Daily Mail
20-07-2025
- Business
- Daily Mail
Gaudy lifestyle of controversial real estate agent who drives a $300,000 luxury car and boasts a $15million property empire - as three-year probe into alleged underquoting draws near
High-flying real estate agent Josh Tesolin may be under investigation by NSW Fair Trading, but he hasn't let that put a dampener on his lavish lifestyle. Despite the official scrutiny, Tesolin remains one of Australia's highest-performing agents, reportedly raking in $9million in commissions over the past financial year. Tesolin isn't just a top-selling real estate agent – he and his wife, Sophia, have amassed a property portfolio estimated at more than $15million. This includes a four-bedroom home in Bella Vista, purchased for $2.3million in July 2021, and a five-bedroom house in Rozelle, which sold for $2.2million in 2024. Tesolin also owns two investment properties on the outskirts of Brisbane, acquired for a combined $789,000. He drives a Bentley Bentayga, which start at around $395,800, and has a penchant for Gucci and Louis Vuitton loafers, which retail for $1,600 and $1,700 respectively. Tesolin is also known for his flashy custom suits, including a jacket lined with images of homes he seemingly had a hand in selling, worn at a conference in New Zealand. And on the agent's wrist? A Rolex Day-Date, known as the 'President' model thanks to its association with global power players, which start at around $62,000. The Rolex was made famous by US Presidents like Richard Nixon, Gerald Ford, and Donald Trump, as well as cultural icons Michael Jordan, Jay-Z, and Warren Buffett. Tesolin is also known for gifting luxury timepieces to his staff to mark milestones. One post on social media shows the agent gifting a sales agent a rose gold Rolex, estimated to be valued at over $50,000. In another, a watch worth an estimated $35,000 was handed out. Tesolin, who regularly wears colourful socks, has previously joked that the cartoon patterns help him stay 'relatable' to his clients. 'Vendors often judge agents from the outside - assuming we're arrogant or overly serious - but when I show up in Gucci shoes, a custom suit, and socks with flying pigs, it breaks the ice, makes me more approachable, and shows I don't take myself too seriously,' he told the One Life Club podcast in January, 2024. In 2021, Tesolin was awarded the Number 1 Agent in Australia by RateMyAgent, a title he secured four years in a row, from 2020 to 2023. His wife is listed as the office manager at Ray White Quakers Hill in Sydney's northwest, where Josh is the owner and principal. Daily Mail Australia in April revealed Tesolin and his agency were at the centre of a NSW Fair Trading investigation into underquoting and complaints. The agent publicly acknowledged the investigation for the first time in a podcast interview with disgraced agent Adrian Bo. 'What are we being investigated for? Fair Trading came in, asked for files, we complied with the regulator,' Tesolin said. 'Anything the regulator has asked, whether it be 500 files... three files... we have completely complied with the regulator at every single stage.' A Fair Trading spokesperson last week confirmed the investigation was ongoing. 'The Strata and Property Services Taskforce within NSW Fair Trading is investigating Quakers Hill Ray White Real Estate and Josh Tesolin following proactive compliance blitzes into underquoting and complaints,' they said. 'As this investigation is ongoing, no further comment is available at this time.' The inquiry is expected to wrap up in the coming weeks. Daily Mail Australia does not suggest Tesolin has engaged in underquoting, only that his agency is the subject of an active investigation.
Daily Mail
27-06-2025
- Automotive
- Daily Mail
The luxury house Aston Martin built
Aston Martin doesn't just want to flog its luxury cars to well-heeled clients - now it wants to sell them a lifestyle. The British auto firm based in Gaydon, Warwickshire has today unveiled its first ultra-luxury house. However, if you wanted it, you'd need to pack your bags and move to Tokyo first. The N °001 Minami Aoyama home has just been completed in the Japanese capital in partnership with real estate developer Vibroa. The four-storey private residence is situated in the city's highly desirable boutique Omotesandō neighbourhood, meaning you'll need a sizable collection of zeros in your bank account to afford it. The townhouse extends the company's exclusive property portfolio, which already includes the Aston Martin Residence apartment block in Miami . It also designed the interiors for 'The Astera' complex on Al Marjan Island in the United Arab Emirates. Both are worlds away from affordable housing. And while the mega mansion boasts a gym, wine cellar, theatre, dedicated golf simulator, and a private spa, the garage is arguably the most incredible showpieces of all. 'N°001 Minami Aoyama is a true showcase for bespoke craft, high-end technology and a unifying design language that parallels the truth to materials, perfect proportions and effortless beauty of Aston Martin's range of luxury sports cars,' so Aston Martin's blurb says. But what are the important figures in the sales brochure? It offers three storeys above a substantial basement level, three en-suite bedrooms, and a total floor area of 724 m2 (7,793 ft2). On the outside, it's - unsurprisingly - a stunning spectacle. The exterior façade to the front uses vertically-aligned metal louvers of varying proportions and angular fins that are split by a singular LED light, which looks like the spine of the electric building. 'Together, these create a shifting presence throughout the day as light plays on the reflective surfaces, providing animation as well as privacy,' the car maker claims. And they also provide a tiny glimpse of the lavish interior finishes, like the rippled mirrored ceilings and a wilderness of plants on the first-floor spa terrace. To the rear is balconies galore, with four in total as well as a selection of enormous portrait windows that flood light into the property. There's a roof-top terrace too, with 360-degree views of the affluent district of the Japanese city - including Tokyo tower - as well as an entertaining space, outdoor kitchen, and planting section that acts as a mini garden oasis. Back indoors, one of the main focal points of the property is its dramatic sculpted staircase. This is formed from folded steel and shaped to give the impression of a piece of origami. Running from the basement and ground floor, adjoining an internal garden and illuminated by a feature pendant chandelier, it is one of the most jaw-dropping aspects of the luxury home. An ultra-expensive kitchen features black lava stone surfaces and Italian-crafted grey oak cabinets, which are contrasted by nebula steel and pewter metal accents throughout. Many of the unique furniture pieces were custom designed under Aston Martin's direct supervision, too. This includes the first-floor spa, with sauna and bath finished in natural Hinoki timber cladding and using a specially designed audio system. There's an outdoor Onsen pool too, with seating on the private terrace. Like its cars, Aston Martin also commissioned a fully-integrated Bowers & Wilkins audio system that plays in every room of the residence. It's not a garage; it's an 'automotive gallery' The 'showcase space' consists of two covered parking spaces that presents a two-vehicle collection 'as if they were sculptural works of art'. A 'special glass vision panel brings the vehicles into the lounge and meeting room on the ground floor,' the car maker says. The garage area has adaptive lighting and a wave-texture metal ceiling for a final splash of opulence. From the outside, with the gallery shutters open, it reveals the incredible garage roof as well as a peek inside the premium pad's living space. Announcing its completion, Marek Reichman, executive vice president and chief creative officer at Aston Martin said: 'Throughout the design and construction of N°001 Minami Aoyama we have worked closely with Vibroa to celebrate the influence of Tokyo's culture, history and style. Before you pick up the phone to call a real estate agent in Tokyo to inquire about the price, save yourself the time. That's because the property was sold to a private buyer back in 2022.
Daily Telegraph
04-06-2025
- 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
03-06-2025
- 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.'
