Key takeaway: Joey Croke, a young property investor and founder of proptech platform Arqelo, rebuilt from zero after losing about $100,000 in a stockbroker collapse at age 20. He went straight back into shares, saved a deposit, then used equity rather than income to scale to about eight rentals across Victoria and WA, buying four properties in one year.
In this episode of Geared for Growth, Mike Mortlock is joined by Joey Croke, a young property investor and founder of proptech platform Arqelo, who turned an early financial setback into a fast-scaling property portfolio.
Most investors never recover from a six-figure loss, especially not in their early 20s. But Joey’s story flips that narrative. After losing $100,000 in a stockbroker collapse, he didn’t walk away from investing. He rebuilt from zero, sharpened his strategy, and leaned into property with a level of discipline that most investors never reach.
What makes this story compelling isn’t just the comeback, it’s the speed. From a first (imperfect) property purchase to building a multi-state portfolio and acquiring four properties in a single year, Joey’s journey highlights what happens when resilience meets strategy. It’s also the foundation behind Arqelo, the platform he’s building to simplify property research and help others move faster with confidence.
Joey went straight back into shares, this time making sure the holdings were in his own name. He says the problem was one dodgy broker, not the whole stock market. His dad had taught him to split even $10 of pocket money into living, saving, giving and investing, so he lived at home, kept expenses low and saved a house deposit. He earned about $56,000 the year he bought his first property.
Joey says his first purchase, a top-floor apartment in a block of about 72 in Maroochydore, was not a great buy. He paid $580,000 to save $20,000 on an older house on a corner block down the road. He estimates that house would be worth around $1.5 million now, compared with $800,000 to $900,000 for the unit, though he still made about $200,000 on it.
Joey says his growth came mostly from equity, not income. After his first purchase he bought interstate in Mandurah with a buyer’s agent, then in Geelong and Shepparton. His high-yielding Shepparton properties are in his personal name, which helps with serviceability. He tries to buy under value in markets early in their upswing to build equity quickly, and he chases higher-paying work. Last year he bought four properties.
Joey says most property data is 3 to 6 months lagged, so his platform Arqelo combines more than 120 metrics with boots-on-the-ground feedback. He regularly contacts property managers and agents around the country about rental enquiries and open home numbers, which is more current than what shows up in CoreLogic months later. Users answer a Life Compass and a buyer’s brief, and Arqelo rates suburbs out of 100.
This is general information from the podcast, not financial advice.
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