A millionaire buyer’s advocate says there’s a property attainable to every Australian, and it’s a myth for those that say otherwise.
Dany Girgis invested in his first property when he was just 21 and in the past decade, he has amassed a portfolio of 30 homes across Australia as well as Vanuatu where he owns a private island called Dany Island.
He formerly owned the travel business Sure Thing Travel he started in 2006 and sold in 2019 which specialised in Schoolies trips.
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Mr Girgis said buying the correct properties allowed him to keep buying.
And his website states that he is also a member of Mensa International after he was invited to sit an exam by the world’s largest high-IQ society and passed.
The prolific property buyer, who’s now in his thirties, said buying the “correct” real estate allowed him to keep buying to the point he began helping his family and friends, eventually starting his own business.
“I don’t think it’s correct that people say property is unattainable. It’s just about buying the right property,” he said.
“Everyone’s in the same situation.”
Following the Reserve Bank announcing a 0.25 percentage point reduction in the nation’s cash rate, which underpins home loan costs, to 4.1 per cent in February, Mr Girgis said the rate cut was really good news for the market.
Dany Island in Vanuatu.
This is Mr Girgis’ tropical island which is home to plenty of sea turtles.
“It inspired some confidence in the market because a drop also indicates the end of the (rate) rises,” he said.
“People who are a little bit cautious thinking we don’t know when the increases are going to end, can now safely say it’s ended.”
All of his properties were positively geared, he said, and advised real estate investors to try and choose homes where they could ensure the same.
“The rent that you receive from it should be enough to cover the mortgage, any rates, any bills, any utilities, any maintenance … there should still be more to have a profit there for you,” he said.
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