I recently re-read the The Australian - THE LIST magazine liftout & I still found it fascinating!
It lists the top 250 wealthiest people in Australia in March 2020. It provides about 5 paragraphs on each including where they made their wealth.
There are no prizes for why I found it fascinating….Property was named as the top industry amongst the list weighing in at 64 out of the 250 wealthiest. This gives weight to what I genuinely believe about property – it is a large industry with multi-layering.
On the list is property icons such as -
· Harry Triguboff - Meriton
· Frank Lowry - co-founder of Westfield
· John Gandel - Gandel Group
These are big names but that's the beauty of property. Because of property markets within property markets around Australia (thanks for this piece of advice The Property Couch) there is an entry level that suits different budgets.
Yes, you can absolutely get it wrong – I have got it wrong with my own investing earlier on, but the trick there is to a. learn from your mistakes & b. do your own homework!
I think the biggest take away from this article would be that there is multiple property markets in any City. Know what your budget is and get into that market.
I'm always keen to hear other people's success and failures in the market - give me a call if you'd like to share.
See you in property