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Rising interest rates aren't all bad news and can actually work for us, according to a finance expert

By Jo Abi|

Mina and Scott O'Neill first met at a New Year's Eve party in Sydney but their paths almost crossed many times before.

?"We could have probably met many multiple times before," Mina tells 9Honey. "I had found out my brother and his sister had common friends and then we just happened to have common friends from school and university that we had known for many years.

"We just happened to find each other at a particular time when we were both looking for something new."

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Mina and Scott O'Neill Rethink Property Investing
Mina and Scott O'Neill first met at a New Year's Eve party in Sydney. (Supplied)

Having recently finished up at university, Mina was also looking for a full time job and had plans to set herself up and invest.

Scott was on exactly the same page.

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Mina and Scott O'Neill Rethink Property Investing
The couple found they were on the exact same page when it came to setting up their financial futures. (Supplied)

Mina had graduated with a degree in politics and journalism and Scott in engineering, but their financial goals were so in synch they would years later write a book together sharing everything they had learned.

It's called Rethink Property Investing, which they first wrote in 2019 just before the pandemic and has since been fully updated and revised.

A fully updated and revised version of this book is out now. (Supplied)

Mina credits her upbringing with teaching her how to create a financially secure future.?

"My mum was Egyptian and my dad is Greek so very old traditional ways of upbringing and it was very specific to career, you know, make sure you've set yourself up before you even think about getting married, try and have something there for you. Make sure that you're stable and you have a partner that understands that.

"So that's something I was looking for as well."

Mina and Scott O'Neill Rethink Property Investing
Mina credits her upbringing with teaching her how to create a financially secure future.? (Supplied)
Mina and Scott O'Neill Rethink Property Investing
'Make sure that you're stable and you have a partner that understands that.' (Supplied)

Mina and Scott shared their money goals early on in their relationship and it has paid dividends.?

"That communication between the two and mutual understanding is important," she says.

While sky rocketing interest rates are causing pain for mortgage holders around the country, Mina is urging Australians to rethink the current economic climate.

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"It's time to get in for a good deal when purchasing a property," she says, adding that now is also a good time to refinance.

Mina sees Australians making some simple mistakes when it comes to investing, including borrowing more than they need and not getting ahead when they can.

"For example, your money how much is enough? What's your initial deposit? Do I spend it all? Do I not? How much can I put aside? How much are my outgoings? Everything needs to be accounted for to be able to plan for the worst case scenario," she says.?

Mina also points to her and Scott's foray into commercial investing that has helped them build their impressive property portfolio.?

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Mina and Scott O'Neill Rethink Property Investing
Mina and Scott shared their money goals early on in their relationship and it has paid dividends.? (Supplied)

"And once you start looking at the facts, how long has the lease been in place? What's the growth area like? What's the opportunities in that location? What's the market like? Once we started researching all those details, we went, does it look like much? We've had this lease in place for 20 years, or 15 years. That's great. That's security. And I just thought, wow, servicing that way, the banks will like that one actually and it's under market. That's a great opportunity."

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She says writing the book together was a nice way to revisit their money journey.?

"It was a really nice way of revisiting how we can actually help our clients but also just give something back to the public to actually read it and understand," she says.

Mina now plans to teach her own daughter everything she has learned, with the four-year-old already showing an interest in her mum's work.

?"Yeah, it's fantastic to be able to do that," she says. "And I say to my daughter, well hang on, for Mummy to get you nice things, I need to work. And she goes, 'oh, well Mum, can I get a laptop and sit next to you and work with you?' She's enticed to do that now. I love that."

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