Although only a brief article. A young man willing to take some risks has done very well for himself.
https://www.nzherald.co.nz/nz/auckla...JNIOG5ONB24BM/
He started in 2015.
Portfolio current market value 20mill
Debt 9 mill
Gross rental $1million
Overall, Brownlee equates 60 per cent of his success to smart structuring of his finances and mortgages, and 40 per cent to buying the right property.
Makes me look foolish with all my complaining. I remember looking at a property 7 years ago with a 5% gross yield which was well less than 5% net after rates etc and declined to make an offer on that basis. Really regretting that decision now. it would have been significant for me financially. Maybe that is why I am so bitter and angry at the RBNZ.
He is young but I also wonder how he goes if inflation hangs around. Every 1% increase is $90,000 more interest annually.
Does he have an implicit guarantee from central banks or is that an explicit gaurantee now that Japan and the US govts will be bankrupt if interest rates rise. That interest rates will not rise too far and Adrian has prepared the financial system for negative rates if needs be. In fact Adrian was appointed head of the RBNZ in 2017 and young Jonathan has never looked back.
Is that really the central banks job though??