Everyone is different. Our lives are made up of diverse circumstances and choices that ultimately make us wonderfully unique. But there is one common goal that we share as individuals, we all aspire to live a financially comfortable life.
This goal inspired Nicola Mills to set up My Property Circles. A business with the purpose of helping everyday people get onto the property ladder by grouping them so they can pool their resource, share the deposit, risks and reward. Especially important, when saving up for initial deposits tend to be the biggest roadblock for majority of the population.
How it all started
Going back many years ago, founder Nicola started drafting a plan on when she would like to retire whilst still being able to afford the things she enjoys in life. After putting together her retirement “dream list” and calculating the amount of money she would need, she nearly fell off her chair!
So, Nicola started doing some research and soon realised the safest and smartest way to start accumulating the retirement money is through property investing. But the problem was, she did not have a big enough deposit to kick start that plan on her own.
Nicola then came up with the idea of investing in property with her friends. She called them up and asked “Do you want to start buying investment properties with me? We can share the costs and deposits and reap the rewards, together.” And they said YES!
What was very important to everyone in the group, before setting of on this journey, was that they were protected from one another’s financial situations. So, no matter what, they could avoid the potentially awkward financial conversations in the future. Nicola went on and visited a reputable lawyer and worked out a structure that can protect the group from each other. Ever since, the group has steadily bought a property every year!
What makes My Property Circles different?
My Property Circles stands out because it is about people and helping them get on the property ladder whilst feeling totally secure when investing with a group of people. All Property Circle members are fully in charge of making key decisions, including where they invest, the length of the investment, what properties they invest in, etc.
Their team Their team of experts (Property Buyer, Accountant, Lawyer, Conveyancer, Bookkeeper, Broker) are here to provide legal documents that make sure the members are safe from one another. They can also assist in finding the ideal property for the Circle, it is up to you and your Circle to decide who you’d like to engage throughout your journey!
Another important aspect of My Property Circles is that each Circle can have different investment goals. For example, if some members want to buy and flip properties, they can set up a Renovation Circle. Some might like to invest in Property Development, they can join or start a Development Circle. The opportunities are endless!
And last but not least, you invest whatever you are comfortable with! For example, one Circle member contributes $20,000 and the other member $50,000 – that is totally fine. It just means the second member will own a larger share in the investment property.
Start creating a passive income through Property Investing today!
My Property Circles is here to help you and your Circle achieve your goals every step of the way.
To learn more about how My Property Circles works, please join us on the upcoming Facebook live session on the 14th July 2021 at 8pm – 9pm (AEST) where we will be joined by Amelia Harris (General Manager), Felicity Ball (Circle Manager) and Nicola Mills herself.
For more information, visit www.mypropertycircles.com .