Real Estate mogul Nathan Birch is on in his 30's, yet he already owns his own company BInvested Property Group. Today, he already has 200 properties in his portfolio.
Yahoo News Australia says that "if the thought of buying a house in Sydney's inflated property market seems daunting, then perhaps you can take the advice of the man that's done it 200 times." It appears that Nathan Birch has become famous of his success in the real estate industry.
Report states he is "a self-made millionaire property mogul who has bought hundreds of properties and is spilling his secret to success." Birch bought his first house when he was only 18. The property was located in Mount Druitt and bought it for $248,000.
He got negative feedback from people around, telling him it was a bad idea buying a property in that area, and that the house would not go up in value. But he told them that's all he could afford.
Birch said in an interview that he got into the real estate business to buy a property and to have it rented out. "I'm not in the business of buying a property and selling it," Birch said.
As his business grows, he shares that his golden rule revolves on 3 principles. First, always buy property for less than market value. Second, buy in growth areas. Third, make sure the rent covers your mortgage.
News Australia reports that the investment portfolio of Nathan Birch has already amounted to $35 million. The real estate mogul earns a net of .5 million a year from his rental income.
According to the report, his gross income from rent is about $2 million. But he has a "total debts across his portfolio are $11 million."
While most people are afraid of the real estate bubble, Nathan Birch has a different outlook about the situation. For him, rather than complaining about the system of the housing market, he believes that one could use the said system to one's advantage.
People can create opportunities despite crisis. You can do something about the situation even when the housing market is bad. "The only way to build wealth is to invest with a plan and a strategy, not let your money sit still," Birch said.
What can you say of the mindset of Nathan Birch? Share your thoughts in the comment box below.
