An Australian entrepreneur has a staggering portfolio of more than 170 properties and he's earning rental income of $500,000 a year after expenses, Stuff reported.
Nathan Birch, 30 year old, from Western Sydney was inspired by his brothers to invest on properties at the early age. He actually bought his first property at the age of 18. The three-bedroom home in Mt Druitt was purchased for $248,000.
After six months of basic renovation the house was revalued at $350,000, which he used for the equity and deposits on two other properties.
Hailing from a blue collar background, Birch's aim was to leave the workforce at the age of 30. So, he pushed himself to buy more properties. In 2009, he's making $30,000 a year in rent from 14 properties, he decided to quit his job and focus on the business.
"By the time I was 24, I was able to exit the workforce. I had a passive income stream coming in at around $30,000 a year at that point," he said.
At the early age, Birch and his business partner, Daniel Young, managed to grow the enterprise, Binvested. His success though comes with great sacrifice. He admitted that while they're growing their empire, their youth, personal relationship as well as the partying are diminishing.
Binvested has grown into a group companies. It deals with various aspects of real state such as, property management and accounting. People involve in the business shares the same passion.
"The core business, which is Binvested, is to help investors get the right information. We provide resources to help them to build their property portfolio," Birch said.
From 10-square-metre room, with four employees, they are now moving into a 600 square metres office and planning to hire about 50 staff.
Birch has some tips for aspiring entrepreneurs and one them is "Make sure you understand why you are buying your property. Set strong goals from the start and only accumulate properties in line with your goals."
