Kevin learned his lessons as an investor early in his career. “We were probably more speculating than investing, but both proved to be spectacularly unsuccessful,” he admits as he recalls the experience of buying his first two properties on Bribie Island in Queensland.
Kevin took this experience to heart; however, those ill-fated purchases drove him deeper into property, and he built a career as a top-ranking real estate agent and, today, as CEO of Real Estate Talk and Real Estate Uncut.
To this day, his favourite investment remains the house he bought several decades ago in North Ryde, Sydney.
“We only owned it for a short period of time but, as so often happens in the Sydney market, if you buy at a low point and sell in a peak, you’ll do well.”
Kevin sold the North Ryde property in 1979; the profits allowed him to gear up and begin building a property portfolio after he moved to Brisbane in 1988.
“That’s where I learned the lesson that you make money from property when you buy,” he says, “not when you sell.”
Kevin says the banks “did not look favourably on lending to investors” when he began buying real estate in the 1970s.
House in North Ryde, NSW
Price paid $41,000 (sold for $59,500)
Year purchased 1978 (sold in 1979)
