Landscaper Retired a Millionaire…not because of his Business, but from Real Estate!
This morning, I checked out the garage sale of my neighbour here in Sydney, Australia. I got interested with the display of several outdoor fountains. Apparently, it was not our neighbor conducting the garage sale but his father.
I asked his father why he was selling so many outdoor fountains. He said that he and his wife are retiring from their landscaping business. They recently sold their house in one of Sydney’s most sought after acreage property location, to move closer to the beach. When he mentioned where his property was, I knew he had a good deal without even seeing the property. His area is popular for the million-dollar acreage homes. Considering he bought it nine years ago, the value of his property would have more than doubled. For the last nine years, a lot of infrastructure was built making his area more accessible. It is also highly sought after now because of the nearby regional town centre getting built.
I told him that his business must be doing very good for him to purchase an acreage. He was quick to say that he got rich not from the business, but from buying and selling real estate. He even told me that the latest property he sold was 5 acres big. Among all the properties he bought, the acreage was the longest one he lived in because he liked the area. He usually lives in his properties for a maximum of five to six years then he would sell it. Each time, he would get a hefty profit. Moreover, since it was his main residence, it was tax free.
This is not the first time I’ve heard of this kind of success story.. In the long run, irregardless of the boom and bust periods of real estate, it is still a very profitable investment. You just have to learn; when to buy, when to hold and when is the best time to sell. Another great tip from this landscaper (which is no surprise), is to fix your garden specially before selling. It can add thousands to the value of your property!
Do you know anyone who became a millionaire from his real estate dealings?
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1 opinion for Landscaper Retired a Millionaire…not because of his Business, but from Real Estate!
annu
Mar 13, 2007 at 11:53 pm
This blog tell the story of a man who is going to retire from their landscaping business, that’s why he is selling his several outdoor fountains. How sad it is.
I have gone through a property site which deals about buying and selling the Properties…………..
Go through it Property……….
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