Internal hiring: The FIFO job strategy has served him well throughout his career

An underutilized investment strategy has helped the miner build a large property portfolio over the past 12 years, increasing his wealth.

When Mathew Bellomia got a job in the mining sector, he was determined that his salary increase would be used to increase his wealth.

The Melburnian moved to Western Australia aged 23, where he worked as a driller, turning to ‘investing’ at the same time.

The strategy involves buying an investment property in an affordable area, while renting in an area you would like to live in.

“I knew that property was the vehicle I needed to use to grow some wealth,” Mr Bellomia told Mortgage Choice.

“I grew up watching single parents trying to raise three children.

Today, aged 39, Mr Bellomia owns four properties – two in the Brisbane area, one in Moreton Bay, and one in Perth.

Mr Bellomia is in the process of building a fifth investment property, this time in Melbourne.

House hunting

When considering what to buy, Mr Bellomia tends to target areas that are affordable for small families.

“I was lucky that the rent increased more than I had planned, and the growth allowed me to buy more properties,” he said.

Mr Bellomia, who rents the Perth property he calls home, has worked with an investment firm to outline his rental journey. He then flies to the small mining town of Kalgoorlie, where he lives and works more than 180 hours a fortnight.

Kalgoorlie, Western Australia. Photo: Getty

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“The flying lifestyle means that I can save a lot of money on living expenses, because when you are in the area, everything is provided for you,” he said. “I can save a lot of my salary.”

Lessons learned

The recruitment process did not go well for Mr Bellomia, however.

Before working with a property investment firm, he bought property in Bendigo and the mining town of Kalgoorlie, which did not work out. Eventually, he sold them both.

After learning the error of those early decisions, Mr Bellomia now focuses on calculating the expected rental return before buying a property.

This way, he can ensure that the rent covers a large portion of the mortgage payment, leaving him with a small return to add as part of the mortgage payment on each property.

As he earns a lot of money from his FIFO job, Mr. Bellomia also has a very high tax income that hiring helps him to pay well.

Owners of rental properties can claim a deduction in the same year that the property is rented or available for rent, including mortgage interest, estate agency fees, maintenance, upkeep, maintenance, council rates and insurance.

“It’s a great way to be able to lower your tax bill,” he confirmed.

Currently, Mr Bellomia is in the process of selling one of his properties and plans to take a year off to spend time with his family.

“I’m actually on a gap year,” he explains. “Without possible price increases next year, I will have a little money after the sale of the property to fund my time off.”

Can you rent?

As housing affordability issues continue to be a challenge for Australians – particularly first-time home buyers – other ways to achieve home ownership, such as renting, are being considered.

Investments may work for some people, depending on your financial situation, your home ownership goals, risk tolerance and where you want to live.

One of Mr. Bellomia’s workplaces. Image: Provided

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The term ‘rental’ refers to renting and living in a home in an area that suits your lifestyle, while owning an affordable investment property elsewhere.

This move helps people get into the property market early, build equity and capital growth without being constrained by being locked into buying in expensive areas.

Investments have become an alternative to home ownership amid rising property prices and the desire to live in downtown areas.

Tenants can use online property reports to understand which suburbs represent a good investment opportunity compared to other suburbs they may want to live in.

According to Westpac, 54% of first home buyers in 2025 were considering renting as a way to enter the property market, which is a 4% increase on last year.

Price increase

It’s not surprising that many people are considering the move given that national home prices rose another 0.5% in February, taking the national median price to $897,000, the Proptrack Home Price Index said.

Prices are now 9.1% higher than last year, adding nearly $90,000 to the median home value.

The strongest conditions remain concentrated in markets where consumer demand is facing strong supply, particularly in Perth, Darwin, Brisbane and Adelaide.

House prices in Australia are now 9.1% higher than last year. Photo: Getty

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Interest is increasing

REA Group chief economist Eleanor Creagh says new analysis of search and inquiry activity on realestate.com.au suggests that a proportion of first home buyers are showing investment intent, along with rental strategies.

“Although investment is still a small strategy, and the majority of first-time buyer search activity remains owner-focused, the search pattern aligns closely with housing finance data from the Australian Bureau of Statistics, and provides insight into how some first-time homebuyers are navigating market conditions,” he said.

In the latest 12-month period to the end of January 2026, around 7% of first home buyers looking for a home in Greater Sydney also indicated an investment intention.

Sydneysiders are showing more interest in renting. Photo: Getty

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The share was low in Melbourne (3.7%), and high in the rest of Queensland (6.4%) – particularly Brisbane (5.9%) – possibly reflecting the pressures of affordability and deposit barriers in the fast-growing city.

Tips for investors

• Define the objectives: Clearly state the purpose of the purchase, including opportunities to sell, develop or acquire equity.
• Location: Consider areas where rental income is strong and investigate what types of properties are most in demand in your target areas.
• Divide the numbers: Make sure you understand how much the home might be worth for rent and factor in maintenance and upkeep costs.
• Consider product options: Explore different types of home loans, including options specifically for investors.

This article originally appeared on Mortgage Choice and has been republished with permission.