PHOTO: Instagram
Grace, a millionaire Gen Z investor and adult content creator, rents a Gold Coast apartment for $950 a week despite owning three other properties.
OnlyFans model Grace aka Grace Wears Lace
At 26, Grace, known on OnlyFans as Grace Wears Lace, earned $1 million within a year on the platform and turned to real estate to invest her newfound wealth. Initially clueless about property, she researched the market and hired a local buyer’s agent who identified high-yield investment opportunities in rising suburbs in Victoria and Queensland.
Grace’s first purchase was off-the-plan, a strategy with inherent risks as buyers invest in properties not yet built. “It’s important to speak to financial advisers, get second opinions, and research to ensure the estate’s completion,” she advised. “You need to be sure the developers have the funds and can hopefully stick to the timeframe.”
Grace secured her first home in a masterplanned community in 2020
In 2020, Grace put down a cash deposit for her first home, a newly built three-bedroom house in a master-planned community west of Melbourne. It cost $650,000 and rents for $650 a week. She then bought a $650,000 Melbourne city unit and splits her time between there and the Gold Coast, where she pays $950 a week for a two-bedroom, one-bathroom apartment. “My rent on the Gold Coast is crazy high for a very not luxury apartment. It’s very basic, and I can’t wait to leave it for a nicer place,” she said.
The median rent for a two-bedroom unit in the beachside market has surged by 15.4 percent over the past 12 months, according to PropTrack data.
Home values in the emerging Victorian market where Grace bought a house have soared $150,000-plus since
Grace bought into a Brisbane apartment project
Grace’s third property, also off-the-plan, was purchased for $700,000 within a Brisbane city development still under construction. Despite delays, she plans to move in once it is completed later this year.
“When I started OnlyFans, it was very popular immediately, and my income skyrocketed,” the former receptionist shared. “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.”
Her past experience as a tenant spurred her to become a homeowner
Negative experiences as a tenant motivated Grace to become a homeowner. Her five-figure monthly earnings allowed her to save for deposits quickly. “Since I’m now both a tenant and a landlord, I appreciate that everyone has had bad renting experiences. I once rented a place in Melbourne where the air conditioner broke during the heat of summer, and the landlords ignored me. It was late 30s to early 40s degrees heat, and I thought, ‘f*** this, I want my own home,’ and that became a pinnacle moment.”
SOURCE: NEWS.COM.AU