After spending years jumping hurdles and working hard to build his five-property portfolio, Julian Lancey still could not think of better ways to create wealth to support his young family other than finding the right investment properties and making the most out of them.
Growing up in a household that has a passion for property ignited his interest to explore the different wealth creation opportunities it can provide.
“My dad was always into property. He was a real estate agent… It was always property, property, property in my family,” he told Smart Property Investment, “I became a real estate agent and I saw how people could buy a property and sell it quite easily later and earn a lot of money… It seem like property is the number one, the best way, and the safest way to earn money.”
Since beginning his journey, he has been able to acquire five different investment properties to his name and has earned $700,000 worth of equity. According to him, property investment is more straightforward as a venture compared to other assets such as stocks or businesses.
“There’s no better way to get ahead than buy a property. It’s not too hard to get a place to sell. If it’s marketed right and priced right, it’ll sell," the property investor said.
“I really feel as though I could not have saved this money that my properties have gone up to, ever. Nobody could have.... How long would it take for you or me to save $700,000? It would take a lifetime.... There’s no better way of earning money than buying property.”
While it’s undeniable that there are risks involved, Julian has learned to navigate his way through the vast property investment landscape, and he believes that ultimately the benefits he can sow outweighs the problems he could potentially face.
For him, success in this venture lies on being aware of your position and constantly reflecting on your short- and long-term goals, as well as your capabilities and limitations.
Julian concluded: “It’s all a risk. It doesn’t matter [what you invest in]—you get married and have a baby, everything’s a risk. I’ve clearly jumped in the deep end but I don’t regret it for a second. I’m going to sink and swim.”
Tune in to Julian Lancey’s episode on The Smart Property Investment Show to know more about the strategies he uses to keep his portfolio costs down, why he’s buying 17 sq m studios, and what he’ll do if it all goes belly up.