Click to view article
Australians love to put their money into property. Bricks and mortar are a solid investment that appeals to many. The attractions of the property market are espoused in a book by Leonard Barnes called Property Power.
Barnes and his wife say they set out to make one million dollars in 12 years – and met their target in a mere eight years, by putting the equity in their home to work. The secret is in the timing, claims the author, who theorises about the macro and micro cycles of the market.
Property Power advocates buying and selling right and early. You don’t get wealthy by paying off a loan – it is better to buy smart and pay a minimal interest-only loan. Barnes says. His principle is to use the conservative property market in an aggressive and informed manner over a short period.
“Every dream home you think you may wish to spend the rest of your life in may one day need to be sold,” the author says.
The book contains information on the type of property to buy for maximum profit, the importance of position, selecting the right real estate agent, value multipliers and diminishers, stamp duty and tax, Maximizing profits by adding value, avoiding unnecessary expenses and presenting a house for sale.
The author has a science degree, majoring in geography and specialising in demographic studies. He also has a graduate diploma in strategic marketing.
“Property Power is not only for the multiple property buyers and sellers, but also for those who wish to get their major transaction ‘right’,” Barnes says at the outset.
Most of the book is taken up with an explanation of his 27 principles of property power. He gives a case study at the end to show how a typical couple with $36,000 deposit can end up with more than a million dollars in 10 years.
It all sounds very possible. The theories put forward aren’t new and remember, it’s always easier to spot property cycles in retrospect rather than when they’re happening.