Multi-millionaires wanted

[mattl]

Hi all,

Let me start by introducing myself: I'm a journalist with Australian Property Investor magazine.

For an upcoming issue of the magazine, we'd like to profile people who have become multi-millionaires through property investment. It would be along the lines of 'how I did it', so as to help others along on their investment journey, and to highlight what some investors can achieve through property.

If you are a multi-millionaire property investor (or you know someone who is), we'd like to hear from you.

Please get in touch with me via email ([email protected]), or through the forum.

(Just to clarify, I'm talking a net worth of $2 million or more.)

Cheers,
Matthew Liddy
Journalist
Australian Property Investor
http://www.apimagazine.com.au

Em: [email protected]

 

[TheAnalyst]

Only suggest you to improve the quality of your reporting, in particular the data quoted. I read some story which I thought was totally out of context. For example, some one bought an property for $185k, and spent few thousands (before it finishes), it was snapped by someone passing by for a lot higher. They made about $80k something in a short period of time. I do not know how true it is. I made some money through my hard work.

 

[Pete]

I'd suggest setting the bar a bit higher than M$2. After the recent boom years of capital growth there would be many, many WA property investors qualifying. It isn't that much anymore. IMO, it'd be interesting to read about those who have achieved, say, M$10 net property wealth.

 

[asdf]

Unless they have a book to sell, I doubt many would step forward. They are too busy making money! I like the API, gives a lot of valuable info and am definitely not knocking it in anyway but I think Pete might be right, have some articles on guys whos made $10M+ from IPs whether from development or whatever. Would also be interesting to note what else they are doing. ie. are they parking their profits in shares, LPTs, stamps, paintings, horses...etc.. Good luck mate. BTW, I don't qualify on either tests....

 

[jopie]

I agree Pete,
although I love reading about anyone that has achieved great success through property, there would be a BIG difference in the story between someone worth 2 compared to someone worth 10. I would much rather read about the later.

$2m may have been achieved by someone buying a reasonable house years ago and brought several investments along the way..
Whereas to make $10m, one (unless they are a dinosaur) would have had to take a pretty active roll in their investing/developing. This sort of thing would be a great story and would ensure that I buy a copy of the mag.

I think there is a big gap in published tales of wealth between the $5m ish mark and the $100m mark. We hear heaps about people making under $5m and over $100m but little of the in-between (i can think of only 1 publication the covers this at all). (not that making any amount of millions isnt a great achievement!)

I would love to read the full story of Chris and Virginia Anderson!! (QLD) they are quite an inspiration. - see if you can get them to do the article!

Having said all of this, i will ask a couple of people i know if they would be interested...

Cheers

Jacob

 

[Kristine..]

For an upcoming issue of the magazine, we'd like to profile people who have become multi-millionaires through property investment. ... (Just to clarify, I'm talking a net worth of $2 million or more.)

G'Day

Well, maybe I've led a sheltered life, but to me someone who has developed a net worth of $2,000,000 or more through property investment is worth reading about.

The AMP used to have a calculator on their website which effectively allowed you to measure yourself against your neighbours. I'll bet not many of your neighbours have a net worth of $2,000,000 and that would be regardless of which postcode you live in.

Come to think of it, how many Somersoftarians have a true net worth of $2,000,000 either, no matter how that value was obtained.

I don't think I have ever read a copy of API but for the ordinary person, whose net worth is probably around the $50,000 mark, reading about the Millionaire Next Door may make for very interesting reading!

Go for it, Matthew, hope you find some really inspirational characters!

Cheers

Kristine

 

[geoffw]

I'd suggest setting the bar a bit higher than M$2. After the recent boom years of capital growth there would be many, many WA property investors qualifying. It isn't that much anymore. IMO, it'd be interesting to read about those who have achieved, say, M$10 net property wealth.

My net worth would not have even qualified me for a minor consideration.

But, on the one time a magazine did talk to me (not API, we're taslking minor league here) I suggested that I knew a number of people MUCH more worth while interviewing.

The response from the interviewer was that readers like to see people who have achieved something that they can see which is within their sights. They identify much more with people who are only a single step (or two) away.

A Donald Trump doesn't inspire people as much as (for instance) a Brenmda Irwin.

 

[Bandita]

G'Day

Well, maybe I've led a sheltered life, but to me someone who has developed a net worth of $2,000,000 or more through property investment is worth reading about.

I really agree with this!! Yes, I'm sure you'll find many who've made $10million through developing and the such, but to make it REAL AND POSSIBLE to the wide public - this is not an option!! (Especially if you include the people who have LOST millions jumping on the development bandwagon - not that I think development is bad, just not realistic for most) - but people who have done it through the KISS principle is what I'd like to read! Different strategies of buy and hold, some small reno's, adding value, etc - but development is out of most peoples reach or desires and I think it's best left to a different topic.

Anyone who's made 2million NET equity through simply investing in property is an inspiration to me and most I know - would love to hear their stories!

Cheers,
Jen

 

[NedKelly]

(Just to clarify, I'm talking a net worth of $2 million or more.)

Not just 7 investment properties worth $2 million and bank borrowing of $1.8 million - there are lots of those investors around!

 

[lizzie]

(Just to clarify, I'm talking a net worth of $2 million or more.)

great to hear because, as an investor with an okay net worth (not yet 2mil) i would get ticked off at the stories that vaunted someone as having $3mil in property, and how marvellous they are - only to find out that they owed the bank $2.5mil ...

it's the stories of those who have made it to the next level that are exciting, even for us small players. someone doing small developments - 3-5 townhouses - would be great.

 

[mattl]

Thanks to all for your feedback so far.

The idea of the story is to cover a number of investors, and we're more than open to featuring people who have a net worth of well above $2 million.

I think people worth around $2 million and those worth $10 million would both make great stories, so if you can suggest anyone in either category I'm all ears.

Thanks,
Matthew

 

[The Y-man]

I guess the other difficulty is that the outcome might depend on an individual's income.

It might not be too hard to make $2mill gains in property, if your outlay was $10 mill, backed by a $1mill per year salary.....

Cheers,

The Y-man

 

[Bricks & Mortar]

Unless they have a book to sell, I doubt many would step forward. They are too busy making money! I like the API, gives a lot of valuable info and am definitely not knocking it in anyway but I think Pete might be right, have some articles on guys whos made $10M+ from IPs whether from development or whatever. Would also be interesting to note what else they are doing. ie. are they parking their profits in shares, LPTs, stamps, paintings, horses...etc.. Good luck mate. BTW, I don't qualify on either tests....

I'd question whether it's "If they had a book to sell"
Some people like that sort of information to remain private, It's a bit like broadcasting you annual income to your workmates.

Sharing information with everyone on a forum on certain subjects is different matter. That comes under sharing advise from your experience, where everyone can grow and develop further through the interaction of ideas , experience and knowledge.

People are also different some public and others private,
some would be happy to be in API and others prefer to remain anonimous.
However I do agree that the net worth of 2M is a bit low
not to say that other articles wouldn't be interesting, but I think the diversity of how they increased their wealth is what interests me.

Personally we have generated wealth from variety of means
vacant land sales, buying seaside locations and recently by renovating, diversification has been a strategy we've always had to put into place.
Buy and hold may be the principle, but we certainly dont just sit and wait for the CG in order to buy more.

It's these different strategies that API need to investigate not just the increase in equity from the cycles that stimulate increased wealth and in particular the strategies of Mega-Millionaires.

The tactics they used to build their wealth and what the cycle and conditions were like at that time. Whether they parking their profits in shares, LPTs, stamps, paintings, horses...(as asdf said). Whether they bought cyclonically, bought to develop, went into JVs and why
Etc,etc.

How have the Mega-Millionaires done it differently than the Multi-Millionares?

 

[Dazz]

I reckon the stories of people about 2 rungs above your circumstances on the property ladder are interesting.

Obviously, people are at different stages, given income / age / experience / courage levels.....and so what might be interesting to some will put others to sleep.

If you're looking for 2M people, say on the 5th rung of the ladder, my guess would be the majority of your readership profile would be about 2 rungs below this. People just starting out on the first rung with 15K cash deposit in their pocket might not get much out of it....as their first purchase will be so overwhelming - yet insignificant compared with your interviewee.

Also, the chaps on the 8th rung, around 40 or 50M will likely be completely underwhelmed and bored stupid with the interview. Obviously interviewing these chaps will excite the folk on the 5 and 6th rungs, but usually some of the finance they access and deals they look at are simply not available to the general dross. Of course, the beginers down on rungs 1 + 2 will be just completely confused and bewildered.....not much in it for them.

Matt, I reckon it all comes down to your knowledge and understanding of what your readership profile is like. Someone with 2M would uplift them alot, but someone with 10M might scare the bejesus out of them.

From our side, your mag has already profiled us, so we are well and truly sitting on the API scrap heap....


Hey...I've just come up with an extraordinary vision - why not run a profile on all of the expert authors and journo's in the API itself, and also the SMH and Age writers who are always quoted as "experts" in the property market. Let's have a squizz at their personal holdings / techniques and gauge for ourselves how expert they really are.....

 

[geoffw]

Hey...I've just come up with an extraordinary vision - why not run a profile on all of the expert authors and journo's in the API itself, and also the SMH and Age writers who are always quoted as "experts" in the property market. Let's have a squizz at their personal holdings / techniques and gauge for ourselves how expert they really are.....

When I was interviewed for one of the lower rung publications, I asked the question. The answer for her was- that she can be more objective in her reporting if she does not invest, because she will not have a bias towrds her sort of investment.

 

[NigelW]

When I was interviewed for one of the lower rung publications, I asked the question. The answer for her was- that she can be more objective in her reporting if she does not invest, because she will not have a bias towrds her sort of investment.

That's gotta be one of the dumbest statements of the decade! I bet you were just shaking your head in disbelief Geoff.

The phrase "blind leading the blind" springs to mind...

 

[sailor]

Hey...I've just come up with an extraordinary vision - why not run a profile on all of the expert authors and journo's in the API itself, and also the SMH and Age writers who are always quoted as "experts" in the property market. Let's have a squizz at their personal holdings / techniques and gauge for ourselves how expert they really are.....

Now I'd be really interested in reading such an article. I'd even go out and buy a copy of the mag to read that! Seriously...I'd really like to learn from their strategies.

 

[Jaffasoft]

Yeah, Alright your just going to have to wait a while.

 

[alexlee]

Now I'd be really interested in reading such an article. I'd even go out and buy a copy of the mag to read that! Seriously...I'd really like to learn from their strategies.

Most of them tend to be lawyers, QS, accountants, agents, etc. How many actually invest themselves and tie their future wealth to actual property holdings?
Alex

 

[kph]

Its a bit subjective about how you guage 'nett' worth.
I mean, do you need to get sworn valuations for all your properties, or do you need to have sold them to get the real sales evidence ?
Or will market appraisals be sufficient ?

And if the market goes backwards, then you may be a double millionaire now, but not in 6 or 12 months time.

I mean, Trump can be a billionaire one day and hes facing bankrupcy the next.

As a small developer we expect to put 16 properties and 32 blocks to the market this year, but if they don't sell then the 'millions' that we expect to realise may well equate to 'zero' .....

There are a few candidates on this forum that I am aware of who qualify, but I suspect they prefer to keep a low profile and just go about their business quietly.

kp