I bought a Blue Wealth Property …. Again.

Posted by Andrew Mortimer

I bought my first investment property with Blue Wealth well before I was working with the team. It was 2015, back when you could buy an apartment in Brisbane for in the mid $300s. I held it, received decent rent, and grappled with the thought of when I should sell. The advice from experts was usually never, but my decision was an emotional one, based on cashing up to have money in reserve to create family memories while my boys were still young. So in 2023, I sold my first Blue Wealth Property (see my blog about this decision).

So, it might seem confusing that we decided to buy another Blue Wealth property only a couple of months after writing the blog about selling.

My investment strategy is relatively simple: buy property when I can afford it and repeat. Long before my exposure to Blue Wealth, I saw the success of portfolio building firsthand. With good guidance, my parents managed to grow a property portfolio that provided them with financial security and the freedom of choice.

So today, I’m sharing the next chapter in our property investment journey—how we were able to take action in a very short time frame to add another brick to our wealth creation wall.

Preparation meeting opportunity

After selling in 2023, my initial plan was to take a break for 12 to 24 months – book a couple of holidays, enjoy life, and then reconsider investment options. The idea was that after this break, we would have the funds to invest through a self-managed super fund (SMSF). But sometimes, when the right opportunity presents itself, it’s important to be flexible and adapt your timeline while staying true to your overall strategy.

The right opportunity was an upcoming project in Melbourne, one that Blue Wealth had previously sold. Some completed properties held by the Developer were now available for sale. Something clicked for me. I wanted to find out more about it and potentially pull the trigger on my next purchase.

Throughout my investment journey, I’ve made it a point to contact my mortgage broker regularly. I’ve kept a rough idea of our borrowing capacity, watching it shrink over the past three years and now slowly start to recover. By staying on top of this and in touch with my broker so he had most of the necessary details on file, we were in a position to act—and we did, fast.

We did it in one week, from hearing about the project to purchasing. That might sound rushed for such a significant decision, but in reality, the groundwork was already in place. Many investors start by finding a property and then scramble to figure out the finances, forcing the situation to fit the deal. I’ve always approached it the other way around—ensuring my financial strategy is solid so that I’m ready to move when the right property comes along.

Trust the research

Working at Blue Wealth, I’ve developed an unwavering trust in our research methodology to deliver the right product for our clients. When our research team has vetted an investment opportunity, much of the heavy lifting and due diligence have already been done. Knowing that this property passed our methodology’s rigorous stress test gave me confidence.

I know many people do their own research when investing, but the sheer volume can be overwhelming. Shifting through endless data to determine what is truly valuable is a challenge. For me, the key is having a clear understanding of the fundamentals – the investment itself, the market it’s in, the macroeconomic factors driving it, and the details around the rental opportunity. Once these boxes are ticked, I feel comfortable moving forward.

This investment made sense—the numbers stacked up, and the research pointed to strong long-term potential. The cherry on top is the market timing. With interest rates starting to decline, there are two key advantages: lower repayments in the near future and the potential for capital growth, as the market typically responds well to rate cuts.

So, Why Melbourne?

This purchase is our second investment in Melbourne.

At Blue Wealth, we’ve been confident in Melbourne’s market for some time. While it hasn’t seen the price growth of other markets in recent years, its fundamentals remain strong. Melbourne has a population the same size as Sydney, a median house price that lags Sydney by about five years, and a low supply of new stock coming to the market—all the while, demand for property remains high.

The best time to invest in a market is before it moves. Whilst time in the market is more important than timing, history tells us what will happen to Melbourne’s property prices now that rates are dropping.

What’s Next?

This purchase doesn’t replace our SMSF investment plans—that’s still our next move. Like many of our clients, we’re reaching a stage where our combined super balance is growing into SMSF territory, while borrowing in our own names is becoming more constrained.

For my family, this latest investment is another step in our wealth creation journey. While last year’s sale was about creating immediate family memories, this purchase is about building long-term financial security. Though different in purpose, both decisions align with our overall plan for financial independence – enhancing our lifestyle today while ensuring we’re building for the future.

Posted by Andrew Mortimer, on 22nd Apr 2025