Meet the man who bought 200 properties by the age of 30
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.
Nathan Birch, 30, is a self-made millionaire property mogul who has bought hundreds of properties and is spilling his secret to success.
He bought his first home at the age of 18, shelling out $248,000 for the property in Mount Druitt.
At first, people told him it was a bad idea.
"I had a lot of people saying to me, you're crazy, it's never going to go up in value, why would you buy in that area? But that's all I could afford,” Mr Birch told 7 News.
In the past five weeks alone he has purchased 18 properties, including units, townhouses, detached homes and even whole blocks of flats.
Mr Birch said he doesn’t buy quick and sell quick like other investors.
"I'm not in the business of buying a property and selling it. I'm in the business of buying a property to rent it out and collect the rental return.”
Three years ago he purchased a home in Kellyville for $442,000.
He spent $50,000 on renovations and divided the land in half, building a second home on the lot for $250,000.
Now the properties are worth $1.7 million and return around $650 a week in rent each.
Mr Birch’s impressive portfolio is worth $50m and generates $3.5m in rent, but some experts warn against putting all of your money in one type of investment.
Shane Oliver from AMP Capital said real estate should be part of a diverse portfolio.
“You could argue that the share market in a relative sense is somewhat more attractive than the property market,” he told 7 News.
Mr Birch founded the Binvested property investment group to share his tips with fellow investors and help them achieve their real estate goals.
Nathan's three golden rules:
Always buy property for less than market value.
Buy in growth areas
Make sure the rent covers your mortgage.
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