MEDIA RELEASE – FOR IMMEDIATE RELEASE
Australia’s property
millionaire factory
3 December 2009
Australian property has proved it can produce millionaires more consistently than
Eddie McGuire, but what powers the property millionaire factory?
In its December 2009 issue, Australian Property Investor takes a peek at the factors
that have helped property create three of the top 10 richest Australians and 61 of the
richest 200 Australians.
“Time and location – with those two ingredients you can become a property
millionaire,” Stuart Wemyss from ProSolution Private Clients tells API.
“If you’re missing either of those two ingredients it’s a lot more difficult and you’re
taking a much higher risk,” he says.
In terms of location, Wemyss says it’s most critical to hold a scarce resource – land
that will attract 10 buyers for every seller.
“If you own it long enough and you’ve got that demand, you’ll become a millionaire,”
he says.
As for time, Wemyss believes time in the market is generally a better millionaire
maker than timing the market.
“Timing will only make a difference if you’re a short-term investor. Timing will make
next to no difference if you’re a long-term investor.”
# # # ENDS
FOR FURTHER INFORMATION, INTERVIEW CONTACTS OR PHOTO
OPPORTUNITIES:
Please contact Eynas Brodie
Editor, API
W: (07) 3720 9422
E: editor@apimagazine.com.au
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