How to get on BRW rich 200 via residential property?

R

round12tko

Say I wanted to have a net worth of 150 million I would need about 500 houses around Sydney. In the Rich 200 BRW listings no one is listed to have 500 houses. So what strategies does one need to get listed on BRW rich200 via residential property investment? :)
 
Perhaps you should check with Peter Spann, (freeman fox)

Yes, nobody on the BRW rich list has done it entirely with property
but most would probably have a diversified portfolio which also includes property.

cheers

Timm
 
To be honest, I doubt that being strictly a residential property investor will ever get you on the Rich 200.

There are a couple of people on the (US) Forbes 400, such as Samuel Zell who owns 198,000 apartments - but I bet he didn't buy them all (ie. I bet he developed a fair % of them).

There are lots of residential property developers on the list though.

Mark
 
hi round12tko
or the people that have got there with property, don't have it there name but multipul trusts and so they wouldn't be asked.
and wouldn't want there name in brw anyway.
the smart poeple arn't there because they are smart.
 
That was how Spannerman put it....
He may have a nett worth that qualifies him to join the list, but it doesn't show up by doing a search, so i would guess that you should take the list with a pinch of salt anyway ??

kp
 
round12tko said:
So what strategies does one need to get listed on BRW rich200 via residential property investment? :)
Click to expand...
round12tko.
Good question,first of all you have to buy something,then hope for a dramatic turnaround in property prices,but as you would already know
in any cutthroat competition everything is risk and your basic understanding of it.The high end of % on the BRW is old money.
Just a quick question what do you invest in?.
good luck willair..
 
round12tko said:
So what strategies does one need to get listed on BRW rich200 via residential property investment? :)
Click to expand...

What is your objective, exactly? Just to get on the BRW rich 200? There are lots of ways to do that, some more labour intensive than others. Why do you want to get there purely via residential property investment? If you just want the fame of being on the BRW Rich 200, you don't have to limit yourself to residential property investment, especially as, from some of your other posts, you doubt the viability of property. If you want to be a property investor because of the advantages of IPs (low risk, low maintenance, etc) then why care about the BRW 200?

I read somewhere (I think it was in Fortune magazine) about a private banker who said 'Some of my clients are far too rich to be on the Forbes rich list'. that makes sense, given the number of secretive hedge funds, private companies, private real estate out there. A lot of rich people value their privacy (for safety and other reasons) and I think there lots more rich people in the world that who is on those lists, which only contain the most public, famous rich people. You only have to see the changing fortunes of Donald Trump on that Forbes rich list! Guy's fortune jumps a couple billion (up and down) a year.

Also, round12tko, it'd help if you give us an idea of what you've done so far. What sort of assets do you have, what do you invest in and how have your results been?
Alex
 
alexlee said:
Also, round12tko, it'd help if you give us an idea of what you've done so far. What sort of assets do you have, what do you invest in and how have your results been?
Alex
Click to expand...

Alex

To me privacy is very important. Jealousy, greed etc is rampant in the public. The underdog is valued, not success. As you create more wealth through property the will be greater disparity between the haves and the have nots.
 
kph said:
That was how Spannerman put it....
He may have a nett worth that qualifies him to join the list, but it doesn't show up by doing a search, so i would guess that you should take the list with a pinch of salt anyway ??
kp
Click to expand...

To qualify for the 2006 BRW Rich 200, you need to have a net worth of $130m and i don't think Spann is at this level.

I think you'll find that BRW have a team of research staff to guesstimate the net worth of those on the list and they're pretty good at it. If i had a net worth of $200m and i didn't want to be included on the list for privacy reasons, BRW would laugh at me.

You don't get a say whether you want to be on the list or not.
 
harry trigoboff

harry trigoboff basically made most of his money thru residential property obviously development but in itself residential, he is a brw 200 billionaire
 
round12tko said:
Alex

To me privacy is very important. Jealousy, greed etc is rampant in the public. The underdog is valued, not success. As you create more wealth through property the will be greater disparity between the haves and the have nots.
Click to expand...

All fair enough, and I think the same. In which case why would you want to be on the BRW200 list? That's like a shopping list for criminals looking for a rich target. I think here on the forum we appreciate success, though.

I would think by the time I accumulate a certain amount of property assets, I will have the contacts and knowledge to diversify into other areas. At the very least other property types like commercial, industrial, development, etc.
Alex
 
Last edited:
alexlee said:
All fair enough, and I think the same. In which case why would you want to be on the BRW200 list? That's like a shopping list for criminals looking for a rich target. I think here on the forum we appreciate success, though.

I would think by the time I accumulate a certain amount of property assets, I will have the contacts and knowledge to diversify into other areas. At the very least other property types like commercial, industrial, development, etc.
Alex
Click to expand...

Alex

The way you are going you'll be on that list.
 
Yeah i'm confused too...

There are gamblers/developers out there....and they come and go with cycles. (And we deal with lots of them)

But the very elite developers make money rain hail or shine. They are in a league where the real sites are not able to purchased by the average developer and more importantly dont come onto the market.

Yes market fluctuations can alter the bottom line....sure.

But the bottom line is - that you still have a greater chance of success by creating.

That includes whether your success is defined by wealth or creation.

Most of our clients hardly need the money.
 
Hi,
Excuse my ignorance but some of the possible reasons IMHO are:

* Not enough due dilligence.
* No proper exit plan.
* Not fully understanding the market cycle.
* Underestimating holding costs.

To name a few but that's just my 2c.

I really believe a well know forumite's motto "You have to buy your property wholesale not retail i.e. develop" - Michael Yardney
 
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