Sydney couple turn modest home into $17million property empire

A young couple have taken just eight years to grow their property portfolio from a modest $480,000 house into a $17.3million empire, but say they don't plan to invest in Sydney again. 

Mina O'Neill, 29, and husband Scott, 31, worked as a marketer and engineer respectively for years before they had enough in 2010 for a $15,000 deposit on a home in Sydney's Sutherland Shire.

Now they own 28 properties across four states, making enough to quit their day jobs and start their own buyer's agency that helps others emulate their success,News.com.au reported.

Mina O'Neill (left), 29, and husband Scott (right), 31, worked as a marketer and engineer respectively for years before they turned a modest Sydney property into a $17million empire and quit their jobs

Mina O'Neill (left), 29, and husband Scott (right), 31, worked as a marketer and engineer respectively for years before they turned a modest Sydney property into a $17million empire and quit their jobs

They worked for years before they had enough in 2010 for a $15,000 deposit on a home in Sydney's Sutherland Shire (pictured)

They worked for years before they had enough in 2010 for a $15,000 deposit on a home in Sydney's Sutherland Shire (pictured)

Now they own 28 properties across four states, making enough to quit their day jobs and start their own buyer's agency that helps others emulate their success

Now they own 28 properties across four states, making enough to quit their day jobs and start their own buyer's agency that helps others emulate their success

Their properties - which are a combination of residential and commercial - are spread across Sydney, Brisbane, the Gold Coast, Newcastle, Perth and Adelaide.

And although their first two purchases were in Sydney, Mr O'Neill said the market in their home town is no longer good value for money.

'If we bought a third property in Sydney, it would still be a good choice but it wouldn't bring in cash flow — and without cash flow, we couldn't have retired,' Mr O'Neill said.

'We are big believers in Sydney being overpriced. You can buy a house 35 minutes away from the Brisbane city centre for $325,000. The same in Sydney would be $1.5million. We chase the value.' 

Their properties - which are a combination of residential and commercial - are spread across Sydney, Brisbane, the Gold Coast, Newcastle, Adelaide and Perth. Pictured: One of the pair's Gold Coast investments

Their properties - which are a combination of residential and commercial - are spread across Sydney, Brisbane, the Gold Coast, Newcastle, Adelaide and Perth. Pictured: One of the pair's Gold Coast investments

Although their first two purchases were in Sydney, Mr O'Neill said the market in their home town is no longer good value for money. Pictured: The pair's Maroubra investment

Although their first two purchases were in Sydney, Mr O'Neill said the market in their home town is no longer good value for money. Pictured: The pair's Maroubra investment

'If we bought a third property in Sydney, it would still be a good choice but it wouldn't bring in cash flow — and without cash flow, we couldn't have retired,' Mr O'Neill (right) said

'If we bought a third property in Sydney, it would still be a good choice but it wouldn't bring in cash

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