Episode 8: How to Build a Big Property Portfolio
In this episode I interview Mortgage Broker and very successful Property Investor Garry Harvey who over the past 20 years has accumulated 33 investment properties. In 2012 Garry was runner up in the “Your Investment Property” magazine’s Investor of the Year as judged by a panel of experts.
-Garry shares his backstory and how he bought his first property which after being encouraged by his then girlfriend and now wife was two houses on one title. The second property generated a rental income which enabled them to use that money to pay off their mortgage faster.
-From there Garry went on to do his first subdivision and that single title property now became two dwellings on separate titles.
-Garry gained confidence from this first property experience and soon realised that he wanted to build cash flow for his retirement.
-His foray into Regional Property investing was as much about necessity and what he could afford and it suited his long-term goal of buying affordable properties that would provide for a comfortable retirement.
-Garry shares with us what type of properties fit his investment criteria.
-We explore the cash flow from his properties and Garry shares that whilst many are cash positive not all of them are but it’s about having the income to support them.
-I ask Garry what he does with the surplus income for those properties that are cash positive.
-Garry shares with us his biggest lessons and learning over the last 20 years as a Property Investor?
-So just what is it that Garry thinks as an Investor he has done well?
-Garry shares with me what he could have done better as an Investor and what he’s learnt.
-What would Garry do differently as an Investor?
-For someone starting out about to buy their first property what advice would you give them?
-Do you think your strategy can help prepare investors for retirement?
-De-risking the Asset – What do you mean by this? This is an important part of Garry’s strategy.
-I ask Garry “With many people sitting on their hands at the moment does he think investing at the moment in Regional Property makes sense?