A millionaire Gen Z investor and adult content creator has revealed she rents a Gold Coast apartment for $950 a week despite owning three other properties.
OnlyFans favourite Grace, 26, earnt $1m within a year from the online subscription platform and turned to real estate investment to parlay her new-found wealth.
While she admits she was clueless about property at first, Grace researched the market and engaged a local buyer’s agent who found high-yielding investment options within rising suburbs in both Victoria and Queensland.
Grace — known online as Grace Wears Lace — purchased off the plan, a strategy which carries some risk since buyers are essentially investing in a product that does not exist because the properties have not yet been built.
“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,” she said.
“You need to be sure the developers have the funds and will hopefully be able to stick to the time frame for completion.”
Grace put down a cash deposit in 2020 to secure her first home, a newly built three-bedroom house in a masterplanned community west of Melbourne. It cost $650,000 and is rented out at $650 a week.
She then bought a $650,000 Melbourne city unit. Grace splits her time between there and the Gold Coast, where she pays $950 a week rent for a two-bedroom, one-bathroom apartment.
“My rent on the GC is crazy high for a very not luxury apartment,” she said.
“It’s very basic and I cannot wait to leave it and move into a nicer place.”
The median rent for a two-bedroom unit in the beachside market has soared by 15.4 per cent over the past 12 months, PropTrack data shows.
Grace’s third property was also purchased off the plan for $700,000, within a Brisbane city development still under construction. Grace said the build had been delayed, but she planned to move in once it was completed later this year.
“When I started OnlyFans it was very popular straight away and my income went through the roof,” the former receptionist said.
“I was uneducated about what to do with this influx of money because I’d always been broke.
Her OnlyFans: Link
