A father-of-two has revealed how he built a $10.5million property empire after starting out with just $82,000.
Ryan Beck, 35, began investing in properties in 2016 and has quickly built an impressive portfolio owning 14 houses to his name.
His properties are scattered all around the country in states including NSW, Queensland, Tasmania, SA, Victoria and WA.
Mr Beck makes around $250,000 in rent every year and revealed he had managed to build his wealth on a set of core principles.
His properties are scattered all around the country and include states like NSW, Queensland, Tasmania, SA, Victoria and WA (pictured, a property owned on the Sunshine Coast)
‘Property investing is really a game of financing,’ he told The Daily Telegraph.
‘You go through layers of buying and have to find new ways to get loans and go to different tier lenders.’
Mr Beck said he had been using the same approach since buying his first property in Evanston Park in Adelaide’s north.
property investor managed to buy the $400,000 house by placing down a deposit of just $82,000.
He then subdivided the property and reevaluated it a few months later before learning he had added $260,000 in equity.
Mr Beck used the equity to buy a duplex in Armidale before he retitled it in 2017.
The 35-year-old said he had been able to quickly build his empire by imitating his first purchase and focusing on properties that could be subdivided.
Mr Beck shared hot tips on how wannabe
property investors could break into the market and tricks to build an empire.
He suggested buyers set out a clear list of goals and write them down to provide more clarity.
Mr Beck encouraged them to learn as much about the property market as possible.
He said he read 30 different property investment books and listened to podcasts to build his knowledge.
Property investors should then find houses with dual occupancy and use the equity made on the sites as deposits for future homes.
Mr Beck encouraged residents to continually refinance high performing properties.
He suggested investors buy a mix of high cash flow and high value
growth properties and to search for properties interstate.
Investors are also encouraged to not be afraid to take risks and keep an eye out for good deals during tough times in the
Mr Beck used the recent hikes to
interest rates as an example, saying he had managed to keep afloat by making savvy financial decisions.
Westpac has become the latest of the Big Four banks to expect three more interest rate rises by May.
The Reserve Bank is forecast to raise interest rates in March, April and May to an 11-year high of 4.1 per cent – adding another $283 to monthly repayments on an average $600,000 mortgage.
The prevailing forecast would mean 12 consecutive rate rises in a year, setting a new Reserve Bank of Australia record for monetary policy tightening to
tackle the worst inflation in 32 years.
At the moment it’s all doom and gloom, but you have to understand the
market moves in cycles and if you can still manage your own cash flow, there’s no reason to be reactive,’ Mr Beck said.