There is an IT worker named Andrew Hew, who is all set to join an exclusive club.
He is right now waiting for the day his under constructed home in the Potts Hill to be completed in the month January and then he’ll be one of the only a handful of Sydneysiders, who indeed owns more than 10 homes , but there is only a one key difference and i.e. he earns a very fairly typical salary. The Homebush resident that he has, built up his collection of the 11 properties, which actually includes his residence, with the minimal cash and no inside knowledge of the construction. His investments span in the Western Sydney, the Central Coast, regional NSW and Queensland and the 10 of his homes were just purchased, after the housing boom began in 2012. Now, that’s called the smart work.
His each purchase has been guided by the genius buying tactics. “Mr Hew buys only in suburbs where he can nab deals for under their market value and where rents can cover most of mortgage costs.”
“Buying property this way, I actually increased my income with each purchase so the banks were able to keep issuing me loans,” Mr Hew told.
“I don’t even look at the properties I buy,” he told. “You have to do things without emotion.” He added.
One of the most common mistakes most of the buyers make, when they are investing in property is that they do buy homes only in the areas, where they’d personally want to live in, Mr Hew explained the thought.
Probably, he didn’t follow anybody but his own mind, that’s why he is owing that many houses.