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FIFO employee gives up work to make $2 million turning residences after rental ‘nightmare’


Graham Whitfield and kids
Graham Whitfield has actually turned greater than 25 residential or commercial properties in the last 3 years and earned a profit of greater than $2 million. · Source: Supplied

An Aussie father has actually exposed exactly how he stopped his $150,000-a-year FIFO work and has actually earnt greater than three-way his wage turning residential or commercial properties. Graham Whitfield has actually refurbished greater than 25 residential or commercial properties in the last 3 years and made greater than $2 million in revenue, yet claimed all of it began as a result of a leasing “nightmare”.

The Perth dad-of-three was functioning as a FIFO emergency situation solutions police officer in 2021 when a financial investment home he had was harmed by long-lasting renters. The 40-year-old informed Yahoo Finance he had actually intended to offer the home to capitalize on the boosting home market in Perth at the time.

“I was self-managing the property and not doing what I should have been doing and not doing the inspections and just extending the lease,” Whitfield claimed.

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“I knew the property was going to be a bit of a nightmare … But then when I told the tenants my plans and looked at the house, I was in for a shock and I realised I had to renovate the house in order to sell it.”

Whitfield claimed he invested $35,000 sprucing up the home, consisting of mounting a brand-new kitchen area, repainting the entire home, mounting a brand-new vanity and tapware, together with brand-new lights.

Whitfield claimed he had actually initially purchased the home for $389,000 and had actually kept it for ten years.

After the improvements, he offered it for $550,000, which he claimed was “hardly a profit” taking into consideration the length of time he kept it.

Before and after Perth rental property
Whitfield’s Perth rental home prior to and after the improvement. · Source: Supplied

“I didn’t go into that thinking I was going to be a property flipper, that was not my intention,” he claimed.

“My intention was just to basically sell this property and get some money for it after the market had started to improve a little bit.

“But I was surprised at the difference between the before and after. That essentially made me realise, I enjoy property, maybe this could be something for me.”

Whitfield claimed FIFO was constantly mosting likely to be a “temporary” work for him and he initially entered the work as a method to maintain his household afloat.

Whitfield formerly operated in property on compensation and claimed he saw his profits decrease dramatically when the Perth home market experienced a decline from 2015 to 2020.

This, integrated with his better half taking some time off job to have their doubles, led him to enter into FIFO operate in 2019 yet he constantly understood he required an “exit strategy”.

Graham Whitfield
Whitfield claimed he initially entered FIFO job after his property profits ran out and his better half had their doubles. · Source: Graham Whitfield

After marketing his Perth financial investment home, Whitfield claimed he finished a residence turning program and obtained a train.





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