In less than a decade, Mina O’Neil went from earning a $60,000 salary to building a $153 million net worth.
Mina, who has a background in journalism, and her husband, Scott, co-founded Rethink Investing in 2015, which has since become Australia’s largest commercial buyer’s agency.
Since its launch, the business has supported investors to acquire over $5 billion in commercial properties. Their expertise has come from personal experience, with the pair building a substantial commercial property portfolio over the years. The couple, now in their mid-30s, had originally started as residential real estate investors, but decided to start buying commercial properties after realising its benefits.
O’Neil now leads Rethink Residential, guiding investors to build wealth through strategic commerical property investments.
The pair have been named on the Australian Financial Review‘s Young Rich List, making their first appearance in 2022.
So what’s Mina’s advice when it comes to investing?
O’Neils says her biggest piece of advice for investing is not to be intimidated by the unknown.
“Fear is a massive setback for probably 90 per cent of us out there,” she said. “If you learn to understand what actually makes you fear it and then make calculated, correct decisions, through understanding the process of how to get there, it will make things easier for you.”
On top of that? “It doesn’t happen overnight.”
“Patience is really a virtue when it comes to this investing journey, especially with commercial property, it’s complex,” she says.
“Women tend to be great long term planners and risk aware decision makers. Just ask yourself, what will give me financial independence faster, with less stress? For many the answer is commercial. But that doesn’t mean you need to start straight away there.”
There’s never a perfect time
The most important step for women looking to take the leap into investing, Mina says, is to actually start.
“Waiting for the perfect time often leads to missed opportunities,” O’Neil says.
“Educate yourself and don’t worry about what everyone else is doing. Worry about where you are. If you’re confident within yourself and you feel like you’re making the right decisions for yourself, that’s the perfect start.”
Importantly, O’Neil says don’t put all your eyes in one basket.
“Look into diversifying between different asset classes according to your risk tolerance and don’t shy away from seeking that professional advice.”