Six investing secrets of a property millionaire

Want to know what the experts do to successfully draw profits from real estate? We reveal the simple property investing strategies of millionaires that can help you grow your wealth.

 

You don’t have to be a millionaire to be a successful investor, says TV property expert Chris Gray – but you do need to know what you’re doing if you want an investment that delivers profits for the long-term, he says.

 

As CEO of Empire Property Portfolios, Chris’s mix of clients include high-net worth and aspiring high-net worth individuals, who see the current buyer’s market as the perfect opportunity to take action.

 

“The investment strategies used by the millionaires are not just about practical things you can do, but the mindset you should have. I’d been investing for years before a mental shift took place, when I began to see how I could transform my life by investing in property – and I did,” says Gray, who is now a property millionaire himself. 

 

“Anyone can make serious money from property if they follow a few key strategies and stay focussed.”  

A seasoned property investor and buyers’ agent who buys and renovates dozens of properties every year, Gray offers the following advice for Australian property investors:

Many people perceive debt as being dangerous, but property debt can increase your return and boost your wealth. Figure out how much debt you are comfortable with and allow yourself to borrow for investment purposes, without feeling anxious about your mortgages. 

Buy quality properties located in a blue-chip area and where possible, try not to sell. Once you have one appreciating asset you can build up equity, which you use to purchase your next property.

 

Don’t try to be a millionaire overnight. The real secret to wealth is compounding your investments, so aim for consistency by investing time in the market, not by trying to time the market cycles.

 

As property billionaire Warren Buffet says, you should always do the opposite to what everyone else is doing. Buy when everyone sells, and sell when they buy. Don’t listen to negative people telling you you’re doing it wrong.

 

There may be times when you’ll doubt what you’re doing, particularly when you receive all the Council rates’ notices at once, or when an expensive repair bill comes in. Keep focused on the bigger picture of what you’re trying to achieve and believe in your investments. Drive also enables you to take risks that very few others would take.  

 

Keep tapping into the equity in your properties to buy more properties – and maybe a few luxury items along the way.