After more than a decade behind the scenes in commercial property, Scott Lung wanted to try something new. Starting a family became the catalyst for his next chapter: from facilities coordination to mortgage broking.
The Sydney-based founder and mortgage broker launched Koala Financial in May of this year. Just months later, the business is gaining traction, with Lung advising owner-occupiers and first-time investors across the residential market.
But he admits there were challenges.
"It can be extremely hard for new-to-industry solo brokers to get their start," Lung told Australian Broker. "It’s not something I would recommend doing unless you have a solid plan and a decent financial buffer to get you through the first 12 months."
Still, the broker said he has no regrets about making the leap.
For Australian Broker's Spotlight Series — where we shine a light on standout talent across Australia’s mortgage and finance broking sectors — we sat down with Lung to hear more about his journey, the strategies behind his success and why Sydney remains in a league of its own when it comes to property.
The following interview has been edited for grammar and clarity.
SL: I'm a proud dad of 3-year-old twin boys, and a baby girl on the way in February. I spent 13 years in commercial property. I always had an itch to do my own thing; I just never had the courage to take that leap of faith to start all over again after working my way up the corporate ladder. It was during COVID-19 that I began to explore two different career paths: either as a buyer’s agent or as a mortgage broker. But all plans were put on hold when our priorities turned to starting a family.
SL: Once we felt we could finally breathe again after surviving the first year of twins, I restarted the process and began speaking to various people in the industry, at a new broker event that I went to in 2023. In 2024, I reignited my desire to start my own business. I was half interested and half unsure if I could pull it off, so it took me a while before making the plunge.
I met Michael [Stephen, chief executive officer] at Purple Circle at the event and immediately connected with him. And after speaking with one other aggregator, I decided being new to the industry that Purple Circle was the perfect choice for me. I considered joining another brokerage and working my way up from the bottom. But then I decided to go all-in and learn everything from scratch.
SL: I am mainly focused on helping first-time investors and first-time homebuyers. I don’t limit myself to a specific geographical area. That’s one thing I love about this business: the ability to work with anyone and anywhere. I see myself working in the commercial and self-managed superfund (SMSF) space one day. But for now, my focus is on helping people at the early stages of their investment and home ownership journeys.
SL: I’m still very early into my new career, having only started in May of 2025. But there’s no doubt that surrounding yourself with good people and focusing on delivering a five-star experience is key. I spent a lot of my earlier time on researching lender policies and other non-dollar productive tasks. But that ultimately didn’t pay the bills. So I shifted towards spending my time and efforts into marketing and building relationships with people in the industry. It can be extremely hard for new-to-industry solo brokers to get their start. It’s not something I would recommend doing unless you have a solid plan and a decent financial buffer to get you through the first 12 months.
SL: Sydney is the most challenging property market in Australia for both investors and first-time homebuyers. From an investor perspective, there's better opportunities elsewhere, unless you have the capital to support significant negative cash flow. For first-time homebuyers, the 5% Home Guarantee Scheme has helped more people into the market. But it’s a double-edged sword. The lower end of the market has just pumped up, sometimes forcing people into assets that just won’t grow.
