From one home to three rentals, Crissy’s story shows exactly how to build a property portfolio through strategy, sacrifice, and the right team. In this case study, we follow her journey from saving on a $39,000 salary to growing multiple rentals in New Zealand.
Crissy didn’t start by knowing how to build a property portfolio. At 18, she tried dropshipping makeup brushes, but soon realised real wealth would require a more stable strategy.
Working long days in advertising on a $39,000 salary, she and her partner chose to live in a garage flat on her parents’ property. Groceries cost just $20 a week as they cut back on everything to save. These years of sacrifice became the launchpad for their first home.
Their first purchase came in 2017 through the KiwiBuild ballot system, securing a new build in Scotts Point, next to Hobsonville.
This property was strategically chosen: Crissy knew Hobsonville’s growth would spill into Scotts Point. Over time, the value climbed as high as $1 million. She even reconfigured the home’s layout, adding a third bedroom and creating better rental potential – her first taste of value-adding strategy.
This first home was more than a place to live. It was the stepping stone that allowed her to grow from one home to three rentals in just a few years.
During the pandemic, Crissy purchased a property in Milldale for just over $1 million. With interest rates low and uncertainty in the market, she took a contrarian approach and bought when others were hesitant.
By late 2021, she recognised signs of a peak and sold — walking away with around $600,000 in profit. While some called it luck, she had researched historic market cycles and knew when to exit.
That decision was pivotal. It freed up equity and gave her financial breathing room to reset and prepare for future investments.
Not every decision was perfect. With the profit, Crissy treated herself to a Range Rover – only to later sell it at a loss. She admits it was a valuable lesson in prioritising long-term cashflow over lifestyle purchases.
She also realised that rental properties must pull their weight. Her first Scotts Point townhouse returned only 3% yield, making it an underperforming asset despite its capital gains. This taught her the importance of focusing on rental returns, not just property value.
After moving to Melbourne, Crissy considered investing in Australia. But higher costs – like stamp duty and capital gains tax – and lower yields made New Zealand more attractive.
She stuck to the market she knew, applying lessons from earlier missteps, and teamed up with coach Elsa Wolf and Lighthouse mortgage adviser AJ to refine her strategy.
Crissy’s first coached purchase was in Whangārei: a three-bedroom home on a large section for $375,000.
By converting it into four bedrooms, she lifted rental income to $670 a week. With subdivision potential still on the table, the property continues to offer long-term upside.
The renovation didn’t go entirely to plan. Costs ballooned from an expected $50,000-$60,000 to $100,000 after unforeseen rewiring. But because AJ had arranged finance with headroom, she could weather the setback. It was a lesson in always budgeting for the unexpected.
Next came Wellington. Crissy bought a $750,000 dual-income property without ever seeing it in person. The choice was purely numbers-driven, targeting an 8% yield or higher.
Renovations were intentionally lighter this time – repainting, new carpets, and reconfiguring bedrooms to maximise rent. By keeping costs focused on returns, she avoided the overspending mistakes of her first renovation.
To further reduce risk, she rented the property through social housing. This guaranteed tenancy and ensured the home would be maintained, offering stability in a softer rental market.
Crissy credits much of her progress to the team around her.
Ilse provided coaching and guidance on strategy.
AJ structured mortgages that allowed flexibility when renovations ran over budget.
Trusted builders and property managers made sure renovations and tenants were handled smoothly.
She emphasises that having a team who understands your goals is essential – especially when investing remotely.
Start small and cut costs – early sacrifices build the deposit for your first home.
Use equity wisely – selling at the right time can unlock rapid growth.
Prioritise cashflow over lifestyle upgrades.
Work with the right team – mortgage advisers, coaches, and builders make all the difference.
Renovate strategically – focus on value-adding changes, not personal luxuries.
Remember: property is a numbers game, not an emotional one.
If you want to grow your property portfolio and unlock your equity like Crissy, get in touch with the team at Lighthouse Mortgages.
If you’d like to learn more, check out these other episodes below.
Disclaimer:
The information in this article is general information only, is provided free of charge and does not constitute professional advice. We try to keep the information up to date. However, to the fullest extent permitted by law, we disclaim all warranties, express or implied, in relation to this article – including (without limitation) warranties as to accuracy, completeness and fitness for any particular purpose. Please seek independent advice before acting on any information in this article.
