{"id":35703,"date":"2021-11-22T19:58:35","date_gmt":"2021-11-22T06:58:35","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=35703"},"modified":"2021-11-22T19:58:35","modified_gmt":"2021-11-22T06:58:35","slug":"property-fit-author-luke-harris-on-how-to-build-a-real-estate-portfolio","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/property-fit-author-luke-harris-on-how-to-build-a-real-estate-portfolio\/","title":{"rendered":"Property Fit author Luke Harris on how to build a real estate portfolio"},"content":{"rendered":"

PHOTO: In his new book, Property Fit: Get your Property Portfolio in Shape, property investment expert and entrepreneur Luke Harris shares his strategies and tips to help new and experienced investors achieve financial freedom through property. Picture: Supplied<\/strong><\/p>\n

The Queensland man has purchased more than 29 properties, yet spent a decade living in a two-bedroom apartment and insists money doesn\u2019t make you happy.<\/p>\n

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Despite a massive property portfolio of over 29 homes worth a combined $18 million, Luke Harris insists his huge haul of residences is \u201cboring\u201d.<\/p>\n<\/div>\n

The entrepreneur, who owns Property Mentors, a Melbourne-based agency that helps people<\/p>\n

grow their property portfolio, admits he first got into the property market to get rich inspired by a wealthy uncle who drove a red convertible with a car phone back in the 1980s.<\/p>\n

He purchased his first property at just 20 \u2013 a four-bedroom house in Perth near the beach in 2000 for $157,500, which he lived in and described as a party place for his mates on the weekend.<\/p>\n

However, despite a deposit of $20,000 his parents still had to go guarantor as he was running his own electronic security business and the banks didn\u2019t look favourably on self employment.<\/p>\n

\u201cAs a 20-something I wanted super yachts and fast cars and holidays that a lot of people associate with wealth,\u201d he said.<\/p>\n

\u201cBut during my 20s chasing those luxuries I realised it\u2019s nice to have a fancy car but you don\u2019t need it, it\u2019s nice to have a big house on the beach but you don\u2019t need it and you can still have quite a comfortable home without having the best home. I think a lot of people wrongly associate luxury items with wealth.\u201d<\/p>\n

His second property was a two-bedroom apartment in the now affluent suburb of Wembley in Perth, which he snapped up for $115,000 in 2004.<\/p>\n

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