Grace, a 26-year-old OnlyFans content creator who has achieved millionaire status, has recently shared her unique and bold investment strategy, emphasizing her journey from earning through online content to making substantial investments in real estate. Despite her newfound wealth, she continues to rent a Gold Coast apartment for $950 a week, while owning three other properties.
Grace, known online as Grace Wears Lace, amassed $1 million within a year from her OnlyFans account. Leveraging her earnings, she decided to venture into real estate, a move that would diversify her income and secure her financial future. Initially clueless about property investment, Grace took the time to educate herself about the market, seeking advice from financial experts and engaging a local buyer’s agent to help identify high-yield investment opportunities.
Grace’s first significant real estate investment was a newly built three-bedroom house in a masterplanned community west of Melbourne. Purchased off the plan for $650,000, the property now generates a rental income of $650 a week. This off-the-plan strategy, while risky, was a calculated move based on thorough research and expert consultation.
“It is important to speak to financial advisers, get some second opinions, and do the research to make sure the property in that estate is actually going to be completed,” Grace explained. She emphasized the importance of verifying the financial stability of developers and their ability to adhere to completion timelines.
Following her first purchase, Grace expanded her portfolio by acquiring a $650,000 unit in Melbourne city. This property serves dual purposes: it’s both an investment and a residence for Grace when she’s not staying in her Gold Coast rental. Despite the high rent of $950 a week for her Gold Coast apartment, which she describes as “very basic,” Grace finds the strategic positioning of her investments essential for maintaining her lifestyle and business operations.
“The rent on the GC is crazy high for a very not luxury apartment,” Grace noted, expressing her eagerness to move into a nicer place. The beachside market in the Gold Coast has seen a 15.4% increase in median rent for two-bedroom units over the past year, according to PropTrack data, highlighting the soaring demand and rising living costs in the area.
Grace’s third property, another off-the-plan purchase, is a $700,000 apartment in a Brisbane city development. Despite delays in construction, Grace remains optimistic and plans to move in once it’s completed later this year. Her strategic location choices and investment timing have proven advantageous, with property values in these emerging markets appreciating significantly since her initial investments.
The sudden influx of money from her successful OnlyFans career posed a challenge for Grace, who had always been financially constrained. “When I started OnlyFans it was very popular straight away and my income went through the roof,” she recounted. With no prior experience in handling substantial wealth, Grace had to quickly learn to manage her finances wisely.
“I was uneducated about what to do with this influx of money because I’d always been broke. I had to figure out the best thing to do – get stock, crypto, or buy real estate,” Grace explained. Ultimately, her choice to invest in property was influenced by her past experiences as a tenant and her desire for financial stability and growth.
Grace’s journey into real estate was partly driven by her own negative experiences as a tenant. Recalling a particularly challenging time, she shared, “I was once renting a place in Melbourne and the air conditioner broke down in the heat of summer for a month, and they [the landlords] basically ignored me. It was late 30s, early 40s-degree heat in the middle of summer. That was a real low point and I remember thinking, ‘f*** this, I want my own home’, and that became a pinnacle moment.”
These experiences fueled her determination to own property and provide better rental conditions for her tenants. Now, as both a tenant and a landlord, Grace has a unique perspective on the rental market, appreciating the challenges faced by both sides.