A new piece, published today in the Courier Mail, shows why.
Titled “Young property millionaires share their tips on how to break into real estate”, the article was published to Facebook with *this* piece of rage-clickable copy:
However, apart from that lil’ tidbit, nearly every other aspect of the article shows why it, uh, really can’t be done by just anyone.
The foreshadowing is so severe, it’s essentially a silhouette.
The piece provides mini-profiles on a series of investors, including the aforementioned Jade Hamilton. it says the 27-year-old investor has a property portfolio that’s expected to hit $5M in value.
Standing in for any further explanation is another quote, where she says “I have been around [property] my whole life, as my Dad’s a builder and my parents have built up their portfolio from nothing and now own a 184-home rental community.”
The piece hones in on another investor, Sydney’s Stephanie Brennan. She owns nine properties with a value of $3.1M. Her advice?
“There are more ways than one to enter the property market and if the way you’re pursuing isn’t working then try another approach, such as… not limiting yourself to your home country or state.”
Fortunately for him, his grandfather is a resort developer, so that guidance on property may have been a lil’ easier to come by. Oh, he’s also currently “focusing on lofts,” ’cause he’s well aware people looking to move on from apartment living can’t afford full townhouses.
The piece closes with Nicholas Smedley, 33, whose current $3B portfolio – yeah, billion – catapulted from a $5M property portfolio.
He also didn’t offer any advice whatsoever on cracking the property market, just common-sense tips on what properties you should look for if you can already afford it.
Also, minor detail: Smedley’s dad, Peter Smedley, was chief of the Colonial Group until 2000, which was bought by the Commonwealth Bank of Australia for $8.5B. In a 2007 piece, their family home was described as a “$7 million Toorak mansion.”
It goes like this:
- Be born.
- Have parents who, by merit of their financial standing or handle of the property market, can either guide your investments or provide a legitimate safety net.
Source: Courier Mail.
Photo: Brendon Thorne / Getty.