30 Minutes With Murray Kahler A Self Made Millionaire, Developer And Investor!

Murray Kahler – www.pumpedonproperty.com.au

Murray Kahler - www.pumpedonproperty.com.au

I recently had the opportunity to spend 30 minutes with Murray Kahler, a self made millionaire and avid motor cycle and car collector.

Murray likes to fly completely under the radar, choosing to ride his fully restored posty bike to the local cafe, rather than one of his 25+ luxury cars and bikes that reside in the basement of his Noosa mansion.

Take a look at Murray’s incredible 4 story Noosa mansion here! 

After spending 30 minutes with Murray my view of whats possible through property investment and development has changed forever.

Murray is a straight shooter and tells it exactly how it is.

In this blog I hope to share Murray’s story and pass on some of his insight into the property investment industry.

How did you get started?

I bought my first home for $32,000 when I was 22 years old. It was a 50 – 60 year old colonial home which I renovated myself, using the skills I had picked up as a builder.

When did you buy your first investment property?

I built my second home a year later for $85,000 and re-sold it for $135,000 within 12 months.

I immediately re-invested the profit into my third property and used this model to own my own home outright on the water within 5 years.

Was your approach to always buy and sell property?

As a builder and owner of the G.J. Gardner Homes Toowoomba franchise I did about 5 or 6 display homes and a number of speck homes over an 8 year period.

I always built and sold homes and used the gains to pay off my own home and re-invest in more properties.

I have always believed in living off your wage and re-investing the extra chunks of ‘free money’ that you make through businesses, property and speck homes into other income producing assets.

What was the best deal you ever made?

Just before I bought the rights to the G.J. Gardner Homes QLD Master Franchise I built a home for my wife and I in Toowoomba.

I had spent months looking for the right opportunity and found a great piece of land on which I built a beautiful home.

12 months later I sold the property to relocate to the Sunshine Coast and made seven figures on the one deal.

What are the keys to finding the right property?

Selection is key.

I have always taken the time to view as many properties as possible. This has allowed me to select the property with the highest potential for growth.

How can an investor guarantee they get the highest possible return when selling a property?

Presentation is everything.

Young investors need to make the time to present the property in its best possible light.

They can do this through beautiful landscaping, quality furnishes and creating a professional appearance.

Timing the market is also crucial.

Have you made any mistakes?

I have made a number of really big mistakes since 2007. Unfortunately I have had a number of deals which have cost me over $50,000.

What did you learn from these mistakes?

Its extremely important to do the research and understand trends.

To invest well you need to keep an ear to the ground at all times and be in a position to act when the right opportunity presents its self.

What are the most important things you have learnt along the way?

Never put yourself in a situation where you need to sell a property in a distressed state. Make sure you can comfortably afford to hold a property if things change.

If you could do it all again what would you do differently?

I would:

  • Hang around people in the know.
  • Focus on building relationships with developers and create a circle where I’m always in the right place at the right time.
  • Get my finance together, so I’m in a position to jump on deals as they arise.
  • Stop trying to find the next boom town and buy a great block of land in a great area.
  • Never over capitalise. By this I mean understanding and delivering on what the market wants.

Whats next?

As I get older I seem to be moving into the commercial property investment space.

Im doing this because the leases are longer, they provide good returns and I have less hassles with tenants.

I will also continue to fund speck and display homes for the franchisees at G.J. Gardner Homes and will look at building another property in Noosa when the market comes good again.

For more like this read:

6 massive tips from 31 year old property investor and developer Chris Moscher.

5 minutes with Chris a 30 year old entrepreneur, investor and property owner.

How did a 30 year old Newcastle Knights cheerleader buy 3 properties before she was 30?

If you have a property investment story you would like to share please get in contact with us via the comments below.

 

Ben Everingham

About

Ben founded Pumped On Property after building a multi-million dollar property portfolio over a 5 year period. His mission is to show you how to replace your income through property investing so you can do what you love…full time.