Property Investment has always been and continues to remain the number one source of wealth in Australia.
55 of Australia’s top 200 list are real-estate entrepreneurs and property investors.
What the difference between Australia’s rich list and the rest of us?
What do they do that the rest of us don’t and what makes them so successful?
- The rich know that all markets move in cycles. Successful investors live by Warren Buffet’s quote: “Be fearful when others are greedy, and be greedy when others are fearful.”
- The rich continue to reinvest their money, they don’t spend it, well at least in the short term. The rich know they must grow their asset base before they start spending big.
- The rich go for growth. They know cash flow is important but to become rich they know you need a large asset base. While the average Australian tries to increase their cash flow, the wealthy are obsessed with building their asset base.
- The rich take action by identifying their goals and working consistently to achieve them. Very few of BRW’s Rich 200 list started with money and even fewer are over night success stories.
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