Meet Nathan Birch, an entrepreneur from western Sydney, only 30, but with an amazing $35M portfolio and possesses a jaw- dropping total of 170 properties. For now he has an annual rental income amounting to $2 million, and takes in $500,000 after the expenses. In an interview with Christine D'Mello of Stuff , Birch shares that he got interested in property investment at quite an early age while watching his older brothers purchase houses. "I was 13 years old and I got excited," he says.
He went on researching about properties and was able to make his first investment for $248,000 in western Sydney when he reached 18, the age when he could enter into a contract. After which he worked even more to buy 10 properties.
Having a blue-collar job, he left the workforce at the age of 24." I had a passive income stream coming in at around $30,000 a year at that point, "according to Birch. It was also at this point that he got bored and he wanted to share his passion to other people.
He then started to set up an enterprise, Binvested, with his business partner, Daniel Young. Binvested has grown into a group of companies which deal with the different areas in real estate like property management, legals and accounting.
In an earlier article written by Frank Chung and posted on the Australian news website, news.com.au, the property mogul gave an advice on investment. He says it doesn't matter if it is stocks or property. The only way to gain wealth is to plan and strategize when investing and not let your money sit still. "If you had $500,000, you could buy a Lamborghini or 20 taxis. Buying the taxis would bring you a return that would pay for your Lambo, but most people want to go out and buy the Lamborghini straight away. Then they find they have to pay to keep it running," he argues.
Further, Birch gives these additional property investment tips:
1. Set goals right at the beginning and accumulate properties in accordance with your goals. Have a good understanding why you are buying the property.
2. Define well such goals. Determine what you need to add to your life, your business, your property portfolio and what you don't.
3. Don't mix emotion with your purchase. Investing in property should be treated as a business without emotion.
4. Remember the three main keys when accumulating property: it should be below market value, it should have an upside to growth and it should have a good cash flow.
