@lorddopg – That is up to you to decide. I guess monthly income would be a big indictator though. As monthly income tends to be a major goals when you are investing in positive cash flow real estate.
So far I have come up with
1. Steve McKnight and David Bradley 2. Margaret Lomas 3. Dymnpha Boholt 4. Rick Otton
I think you are assuming seminar promotors and book authors are the biggest investors. I don't beleive this to be the case. The big ones keep quiet. eg I have heard of one guy who owns more than 200 properties in the Milsons Point area of Sydney. There are many many more people like this who you will never hear of.
Terry has hit the nail on the head….the one you hear about do it as part of their professional “job” or for “frame and recognition” – Nothing wrong with this at all!!
i have dealt with a selective few clients who has over $400,000 PA passive income NET after all expense; and this is all they do- it’;s their job…but they choose not to “publish books” or be a “mentor” because they make more money concentrating on buying and manging their own portfolio and lifestyle
The family that owns 35% of Chinatown in Sydney ( Makretcity and 50% of the shops in susux streets) has an passive income of $1.5 M per year Lucky rich family would love to meet them and be their broker one day lol
You wouldn't even be able to tell them by the way they dress or by the car they drive. Some of the rich people I know are so simple.
I used to work for AMEX's as a Platinum and Centurion Customer Service Rep. They people who spend an average of $100K a MONTH (yes, 30 days) are very nice and polite. But you come across the trying-hards and they're so mean, "Do you know how much i spend on my card?" I was tempted, on more than one occasion, to say, "yes, you're at the bottom 2%."
I spoke to Mr Lindsey Fox, billionaire, and he goes, "hi mate, I just want to activate my card, mate."
Another memorable one, though not rich per world standard, is Cathy Freeman, such a sweetheart. Amazingly nice person, even when I was pretending not to know who she is. Since I still sound Asian she probably thought I was answering the call from Manila. Amazing human being.
The true world's richest, or even Australia's richest, we will never know. It would be between them and God and hopefully the people they have helped along the way.
Minor detail – Positive gearing (post heading) and positive cashflow (first post content) are two different things. Although, the latter can certainly turn into the former over time. Which many of us hope.
You listed Margaret Lomas, so I assume you are referring to positive cashflow.
I guess it depends on how you define "top 10". The "top 10" by publicity? By net worth? Level of Cashflow? By peer recognition?
I am more curious as to why you ask this question. Can I assume that you want to focus your efforts on learning the methods of this "top 10" in the hope of learning from the best of the best?
Being an expert or accomplished at anything is not a requirement to become a published author.
Also being a published author in Australia is hardly going to make you wealthy, or even pay you a decent wage in most cases, rather it's a ticket to the much more lucrative seminar circuit and such ideas. If you take away the business income from being 'a success' then many published wealth authors wouldn't have much to write about
It's a circular argument in some cases, X is an investor who has accomplished nothing of note, fakes it till she makes it as 'an expert' and then has a substantial income and perhaps later an impressive portfolio of properties to showcase.
To answer the original question I was first thinking Harry Triguboff as mentioned previously, comes back to what you classify as business/property income/property investment. I know plenty of people in the 5-20M or so; range with holdings spinning off cash, probably a very small % of the total population but a large enough number in absolute terms, must be quite a few out there in the big whale category as well, the published rich lists only catch those who want to be caught or who can't hide well enough what they control for whatever reason.
On a more upbeat note I can provide the following.
Unfortunately there's no +ve cashflow in residential in any area I would be interested in buying in my patch of the woods at the moment, though I regularly see investors create either neutral or +ve yields. This involves significant value add though, of which there are plenty of excellent examples online, or at cheap/free (really free and no hard sell) property events. Buy well/reno, Buy well/subdivide (and or build), Strata + reno etc etc, lots of creative deals out there, find a few in your neck of the woods and talk to the people involved directly.
The article is about tenant noise and some landlords allegedly renting out units to backpackers, but the article also mentions: "Landlords John and Sarah Hanna, who own more than 100 properties in the eastern suburbs"