PHOTO: SUPPLIED Mike Pero used a $1500 investment to start his business.
Christchurch-based real estate entrepreneur Mike Pero says he made his first $1 million without realising it.
“It would have been around 1997, I’m guessing,” Pero said.
Pero founded Mike Pero Mortgages in 1991, which is now owned by Australian company Liberty Financial. He also founded Mike Pero Real Estate, of which he is still chief executive.
A $1500 investment to start his business in 1990 rolled into $15 million by 2004, Pero said.
“The mortgage company had been going for about seven years and I had sold a 50 per cent share to South Canterbury Finance, founded by the late Allan Hubbard,” Pero said.
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