Property co-ownership is not just for first-home buyers overcoming housing affordability issues. Seasoned investors are joining forces to enjoy the benefits of co-ownership including buying properties in areas they couldn't otherwise afford, and buying multiple properties and diversify their portfolio and spread their risk. Two good mates demonstrate how co-ownership can be a lucrative investment strategy. 

Enter Peter Younghusband and Greg Aitken—with a friendship of 15 years, an eye for a good opportunity and a keen business sense, the pair has created a successful investment strategy that is reaping rewards. The long-time mates own four Defence Housing Australia (DHA) properties together, and are well set up for their golden years of retirement (although that is a while off yet!).

A teacher, Peter first heard about investing in a DHA property in the staff room of his school in Karratha, in North-Western Western Australia.

'Living in remote Western Australia, I wanted a property investment strategy that didn't require hands on management,' Peter says.

After looking at other property investment options, Peter decided that DHA was the safest option for him.

'I did some research and liked the idea so I decided to buy one and see what happened.'

After contacting a Sales Consultant in DHA's Perth office, Peter flew from Karratha to Perth to look at a property.

'I didn't know how it would work with me living a long way away in Karratha. I couldn't have a hands-on involvement. I needed something that was going to be hassle-free.'

Realising he was onto 'a good thing' Peter bought his second property 18 months later, and wasn't about to stop there.

'I began to understand about how to use my equity to buy more properties and generate more income—the more I knew, the more I wanted to buy,' he says.

His aim was to buy more properties quickly, but he didn't want to incur the risk of accumulating high amounts of debt. So, in 2005, Peter joined forces with, Brisbane-based friend Greg Aitken.

'Greg was also looking to invest in property so we decided to go in together. We ended up buying another four houses between us.'

As the owner of a music store, Greg brings his solid business sense to the partnership.

'It sounded like a good scheme and a secure investment which I'm very much in favour of,' says Greg.

'I like the security of long-term tenants with the regular income.'

For Peter and Greg, co-ownership works well despite the fact they live on different sides of the country.

'These days with technology and email it doesn't matter,' says Greg.

'Our friendship has been going for 15 years and I recognise qualities in Peter that I trust.

'I know he's really canny. I'm pretty quick with figures and can quickly work out if something is going to be a good prospect and if the return is going to be good.

'Peter knows property and is happy to keep an eye on the market and is willing to do all the administrative stuff.

'Between us, we do a lot more in half the time. It's worked really well for three years now.'

For Peter, it is also a perfect partnership.

'I make the recommendations and instigate the investments and Greg puts his business hat on. It's great to do this with a mate.

'Like any investment there is always an element of risk, but this way we are able to buy more properties over a shorter space of time and share in the risk. As it has turned out, everything has worked really well.'

The pair has a diversified portfolio with properties in Port Kennedy (an hour south of Perth), Townsville, Darwin and Karratha.

'Greg and I have gained a lot of hassle-free investing, financial security and a new lifestyle. I'm not retired yet, but I'm able to pick and choose what I do and when I do it thanks to the property market in general, and DHA in particular,' Peter said.

In fact, the strategy is working so well for Peter that in December last year he was able to give up his permanent day job to pursue full-time property investing.

'Today I work as and when I want as a casual teacher to earn a few dollars as and when I need to,' he says.

Being an astute researcher, Peter's teaching instincts are never far away, and he always keeps an eye on the DHA website for new opportunities.

'Since the system has been so good to me, I like to keep an eye out for friends. I tell them all how fantastic and stress-free it is. At least half a dozen people I know have bought at least one DHA property.

'DHA investments are something I believe in,' he says.

'I have no hesitation in recommending them to others.'

If you're looking for a successful investment strategy, contact DHA today on 133 DHA or click on this link to visit our website.