Flipping property to be debt free

Flipping property to become debt free. Here's one woman's story on how she did it.

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“BUYING property can be scary, but if you live in the worst house and rent out those with the most debt, you can fly,” says Tisha Huisken, a graphic designer who is about to own her home outright after investing and flipping a number of houses.

The 40-year-old is one of a number of Australians who has taken advantage of popular tax investor breaks and falling interest rates.

After starting out with a $20,000 deposit, she’s been able to flip five properties in 13 years, about half the lifespan of the average 30-year mortgage.

“We’re in the middle of selling our last investment property which will allow us to pay off all our existing mortgage and own the family home outright,” she said.

“I just thought life’s too short, let’s own our house.

“My advice to others is have a plan, get educated on what you can and can’t do and be prepared to get uncomfortable.”

Ms Huisken’s family home on the New South Wales Central Coast is now worth an estimated $800,000, compared to $515,000 when it was bought five years ago.

Property investing to become debt free is a good strategy in the right market and over the past couple of decades that’s worked wonders for many people.

But it’s still extremely hard to be mortgage free especially when you look at rising house prices, helped by record low interest rates, and household debt that is now four times more than it was 27 years ago.

To view our article on news.com.au click here, but here’s a look at the numbers for How Tisha Did It. 


  • $360k ($372 with stamp duty) for a cottage in Wollongong with derelict granny flat in 2003.
  • $80k was the cash deposit/$70 renovating.
  • $615k is what it sold for in November last year.
  • $260k profit after mortgage debt is paid, real estate plus legal agent fees, line of credit debt for renos are paid and capital gains tax.


  • $365k ($380k sith stamp duty) for a house in Corrimal NSW in 2007.
  • Bought using no cash just equity from Wollongong house.
  • $426k is what it sold for a year-and- a-half later.
  • $46k was the total profit after mortgage debt was paid, capital gains tax and agent plus legal fees.


  • $200k ($208k with stamp duty) for a house on the NSW Central Coast in 2008.
  • Bought using no cash just equity from Wollongong house.
  • $250k is what it sold for two years later.
  • $40k was the total profit after mortgage debt was paid, capital gains tax and agent plus legal fees.


  • $515 ($535k with stamp duty) for Tisha’s dream house on the water at Lake Macquarie in NSW in 2010.
  • $260k cash deposit from property sales, including the sale of Marc’s existing unit and cash savings.
  • $800 current market valuation.
  • $270k is the current mortgage
  • $280k is the “expected” sum to be used from property 1, and a little cash savings, to pay out the mortgage debt at the end of this year.

It’s taken Tisha around 13 years to be mortgage free from flipping property – that’s about half the standard 30 year mortgage.

Not too bad if you can do it.

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