Meriton Founder - 200 million rent return on 2000 properties

he has been retired pretty much all his life

retirement to me isnt just money, its about time as well, and doing whatyou like to do.

ta
rolf
 
Numbers don't make sense to me...200mill on 2000...but amazing feet nonetheless.

Sure they do.

$3.5bln across 2,000 properties is $1.75mil average value.
$200mil across 2,000 properties is $100k average.

100k profit across a $1.75mil value is 5.7% profit.

Being a business 'profit' is probably EBITDA (earning before interest, tax, depreciation and amortisation). So assume an average of 8% return on CIP less some agents fees etc, brings it down to 5.7% 'Net'.

Great effort!
 
Hi Blacky, the article said 'rental profit', which means profit made from rents, not growth. That's an average of $100,000 per unit *after* cost. I know Sydney is expensive, but it's not that expensive?
 
he has been retired pretty much all his life

retirement to me isnt just money, its about time as well, and doing whatyou like to do.

ta
rolf

Agree. He probably sees it as though he's never worked a day in his life. He loves what he does. His passion about what he's done is evident in all I've read about him over the years.

If I recall correctly, I have also read elsewhere that his family were not that interested in the development side of things (as the article mentions), so I guess he now has an opportune exit strategy coming to fruition.

Keep collecting rents and do whatever else he likes.
 
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