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The 21-year-old property investor Jack Henderson, who’s well on his way to buying his third investment property, couldn’t care less about the number of properties he has or the value of all his assets combined—the only thing that will end his journey is “when the banks say, ‘No more money, mate.’”
Over the past three years that he has spent working hard in the business of creating wealth through property, the young investor noticed that all those who have found success in property investment held onto their assets for as long as they could.
According to him: “The market's been so [good] and it hasn't been a hard thing to build a good portfolio. If you bought and held on to them, you're making good money.”
“When it slows down ... especially with the banks on lending and people can't buy, I think now is when you're going to start to see blue-chip properties [pushing] ahead … The end [for me] is when the banks say … ‘No more money, mate,’ ” he added.
Right now, Jack is looking at holding a three-property portfolio worth $2.5 million by the time he turns 22.
Throughout his three-year journey, Jack has fallen in love with property investment that he’s quite ‘literally’ made it his life.
“I want to [have a] career in property, that's my massive thing. I love property, it's literally my life. I go to work every day, I think about it, I go home and I'm always researching about it,” he shared.
He wants to dedicate the next ten years towards achieving his great dream of becoming a property professional, especially as it continues to be harder for investors to keep growing their portfolios due to restrictions set by the banks.
Like many property investors, Jack continues to be fascinated with the financial stability and freedom that property investment can give, provided that you do it right.
According to the young investor: “To think that something that you buy and let sit there … can earn more than you can in a year is an incredible thing, I think. I get to work, say, 60 or 70 hours a week and the property sits there and has got a tenant in it and earns more than I do. I think that's pretty incredible.”
“Then, over time … in ten years time, that doubles, and [in] ten again, and [in] ten again. [Imagine] the lifestyle it can bring,” he added.
His advice to young people looking to jump into the business of creating wealth through property: Anyone—of any age and any background—can get into property investment as long as you have the passion to succeed.
“When I come across Chris Grey and see that he drives a Lamborghini, he's got the boat and stuff like that, [I] was like … ‘If he can do it I can do it,’ ” he concluded.
Tune in to Jack Henderson’s episode on The Smart Property Investment Show to know more about the gentrification of a suburb, buying before content, and what your list of priorities should be for a new property.