ArticlesAustralian property investor couple reveal their tips to get richIf you want to get rich these days you need to think outside the box and turn your attention away from the shortsighted obsession over the residential property market.That’s according to Australian property investors Scott and Mina O’Neill, who have grown a portfolio now worth $47 million by taking a different path than most.Mina, 34, and Scott, 35, are both from Sydney and first worked in marketing and civil engineering before growing tired of the 9-5 grind and longing for freedom.They turned their attention to investing and now operate commercial buyers agency Rethink Investing, which has grown from a two-person company to employing 38 staff. The couple currently own 26 properties, with three property developments underway.Their portfolio has allowed them to gain financial freedom from their jobs, and now they are helping others crack into the commercial property markets.They are also enjoying being able to spend months of the year travelling and working in different locations.Their main advice for those wanting to get rich? Focus on the commercial market.“Now is a great time to invest,” the couple said. “In a higher inflation market like the one we are in today we are seeing commercial rents increases at their fastest rates in decades.”The couple, who have also penned a book, Rethink Property Investing, said the trick is to look broadly for options.“Don’t only consider investing in your own local area. Australia has many markets moving at different stages of the property cycles.“Invest for cashflow and capital growth. Many investors fail to prioritise cashflow and only focus on growth. This is a mistake if you want to create a retirement grade portfolio, cashflow is essential.”If needed, residential ownership could be a stepping stone to commercial ownership.“Consider residential property if you don’t have a deposit large enough for commercial. Note that we recommend having at least $250,000 as a deposit for a commercial property.“And if you don’t have the time to learn about commercial property investing from start to finish, consider using an expert/experience commercial buyer’s agent.”The duo say one of the biggest surprises they’re greeted with from their clients is the misconceptions around commercial investing.“We are surprised how more people don’t consider commercial property in the first place. The numbers speak for themselves,” the couple said.“We often hear, ‘this is too good to be true’ when it comes to how fast you can build a passive income through commercial property. They are so used to negatively geared residential property that it’s interesting to see how commercial flies under the radar.“Once they purchase a commercial property they rarely go back to residential investing.”The couple said they have spent thousands of hours researching the commercial sectors, to determine which will perform best.Their investment choices include multiple industrial warehouses due to extremely tight rental vacant rates, high rent growth and strong capital growth results, along with two fast food drive-through investments – a KFC and Hungry Jacks on 15-year lease – as this sector has proven to be extremely resilient in all market conditions.They have also purchased a shopping centre with a supermarket and a chemist warehouse as the major tenant, as well as medical properties such as dentists and GP’s, as they are safe, recession-proof tenants.All of these tenants combined gives the couple around $2.5 million in annual rent.July 7 2022SHARE View media article >In The Media Let’s discuss your property investment goals. Speak to one of our property experts today.