How Mathew Built a $1M+ Property Portfolio with OpenCorp
Whether you’re starting out or scaling up, the path to financial freedom rarely looks perfect. For FIFO worker Mathew Bellomia, it started with long shifts, a few early missteps, and one clear decision: build a property portfolio that could replace his mining income.
In 2013, Mathew walked into OpenCorp with two legacy properties and a goal that most Australians share, create financial security beyond the 9-to-5. Twelve years later, he’s already beaten that goal, turning his strategy into a seven-figure portfolio that funds itself.
“There’s the pain of discipline or the pain of regret. I chose discipline so ‘future Mathew’ wasn’t retiring on the pension.”
Early Missteps and a Light-Bulb Moment
Like many first-time investors, Mathew started out by buying where he felt comfortable, a mining town and a regional market. Cheap? Yes. Strategic? Not quite.
“Poorly chosen property in the wrong area… definitely didn’t grow.”
Everything changed when he stumbled across a dog-eared copy of My Four-Year-Old the Property Investor in his site lunchroom.
“That book was the light bulb. Hold the most property with the least out-of-pocket, and avoid mining towns.”
That moment led Mathew to OpenCorp. He booked a strategy session, “began with the end in mind,” and built a 14-year playbook. It became his personal Investing Almanac, a plan he still follows today.
Mathew recently joined us to tell his story on the Brick to the Future podcast.
Strategy Over Speculation
With OpenCorp’s help, Mathew focused on growth corridors in Queensland, then secured a Perth site in 2021.
“I work 184 hours a fortnight. I’ll never replicate 19,000 hours of research a year. Paying the team is a no-brainer, and it’s tax-deductible.”
Key levers behind Mathew’s results:
- Strategic area selection & lending structures
- Tax variation during build to smooth cash flow
- Fixed-price build contracts and portfolio-manager oversight
Mathew’s Portfolio Snapshot
| Year | Location | Purchase price | Est. Rent | Actual rent | Est. Value | Equity Growth |
| 2013 | QLD | $403,400 | $324pw | $680pw | $890,000 | $486,600 |
| 2016 | QLD | $454,750 | $333pw | $690pw | $920,000 | $465,250 |
| 2022 | WA | $627,067 | $522pw | $760pw | $970,000 | $342,933 |
| Total Portfolio Growth | $1,294,783 |
Over a 12-year period, Mathew’s property portfolio has grown by more than $1.29 million in equity, while delivering strong, consistent rental returns across Queensland and Western Australia. That kind of compounding growth doesn’t happen by accident, it’s the result of strategic area selection, smart finance structures, and holding through market cycles. For everyday investors, Mathew’s story is proof that with a clear plan, the right team, and time on your side, significant wealth creation through property is absolutely achievable.
The Perth Build: Setbacks and Pay-Offs
When COVID disrupted supply chains, Mathew’s Perth build dragged from 2021 to keys and tenant in April 2025. No rent. Mounting holding costs. Yet, Mathew’s discipline and smart planning kept him afloat.
“I was taxed around 6% instead of 37%. That covered interest during the build.”
He leaned on OpenCorp’s risk-management systems and emerged stronger: equity repaid the pain, rent surged $200+ per week over budget, and the growth funded two more properties.
“If I total the relocation and holding costs, the equity gain paid for all of it – and then some.”
What Really Moved the Needle
- Compounding, not gambling – “Seven to ten years’ growth? Yes, with the right areas and timing.”
- Structures before speed – Smart lending setups kept duplication possible.
- Process beats headlines – “I bought when I could, regardless of what the media said that night.”
- Cash-flow management – Tax variations and rental growth kept the portfolio sustainable.
- Mindset matters most – “I base decisions on where I’ll be in five years. Future Mathew has to thank present Mathew.”
Mathew’s Advice to His 2013 Self (and You)
“Educate yourself before making big financial decisions, or get an experienced team like OpenCorp. The wrong purchase can cost you a decade of growth.”
Start Your Own Playbook
At OpenCorp, we help everyday Australians build long-term wealth through smart property investing, backed by research, strategy, and lived experience. Whether you’re just starting or ready to scale, we’ll help you map your financial destination, design the property strategy to reach it, manage the risk and cash flow, and stay the course so compounding can do the work.
Book a strategy session and start writing your own success story.
