A landlord has shared insights on why owning a home might be more achievable than many people believe.
In 2024, the housing market appears to be in a challenging state. Older generations often recall how they managed to acquire properties at what seem like negligible prices, leaving younger people to question if they’ll ever have the same opportunity. However, some argue that this perception might not be accurate.
Australian property investor Sam Gordon has shared his perspective, suggesting that investing in property is within reach for many people if they approach it the right way.
In an interview with The Mail Online Australia, Gordon expresses his belief that anyone who is “willing to put the work in and go down the avenue of building a portfolio” can succeed in property investment.
“I think people need to realise that it is literally accessible to anyone to do it, if you’re willing to want to educate yourself around how to do it properly,” he states.
Gordon also mentions that the government supports people reaching a financial position where they can “replace their own incomes or do that as close as possible or even more”.
“Then, when they get to retirement, they’re not relying on the government for the pension,” he says.
But what strategies does Gordon employ that make property investment so ‘accessible’?
Gordon has achieved considerable success over ’15 years’ in the property market, even though he has been investing for nearly half of his life.
“I buy a lot of stuff that almost 95 per cent of people couldn’t buy, and 99 per cent people wouldn’t buy, and do a lot of renovations to bring them back,” Gordon explains. “I bought dilapidated, run-down, unliveable [houses] direct from banks, like repossessions.”
After purchasing these properties, Gordon renovates them to bring them ‘up to standard’ and often adds a ‘secondary dwelling’ to increase rental availability in the market.
He points out that this approach is ‘obviously’ not ‘free’ and ‘not a charity’, but his method of buying and developing properties helps to lessen the burden on the public housing system and fills a gap that the government cannot address.
Gordon concludes: “If it weren’t for private investors like myself, the government wouldn’t be able to afford to supply all the rental properties that Australians need.”
What are your thoughts on this perspective?