There’s a common misconception floating around that suggests all property investors are wealthy, silver-haired Baby Boomer surgeons. While that might describe a small handful, the reality is that the majority are everyday Australians, just like you and me.
The Australian Tax Office puts out data every couple of years that gives us a snapshot of Australia’s 2.3 million property investors. You might be curious — what kind of jobs do they have?
It’s an interesting mix. It probably doesn’t come as a shock that CEOs and general managers top the list.
But did you know that nurses come in at number three? We also see teachers, admin assistants, sales assistants, police officers, and office clerks all making it into the top 20.
It’s perhaps not surprising that accountants rank in the top five, but here’s a fun fact: more truck drivers own rental properties than solicitors.
And real estate agents, often thought to lead the charge, come in at a respectable number 14, which may be lower than some would expect given their profession.
What stands out to me is the diversity in income levels among these investors.
It seems there’s about a 50-50 split between those earning above and below-average incomes.
The truth is successful property investing isn’t just about how much you earn – it’s largely about the strategy and approach you adopt.
General manager
CEO or managing director
Nurse
Accountant
Office manager
Sales or advertising manager
Admin assistant
School teacher
Project administrator
IT programmer
Electrician
Sales representative
Construction manager
Real estate agent
Finance manager
Sales assistant
Truck driver
Solicitor
Accounting clerk
Police officer
My mentor, my uncle John Fitzgerald, has recently released the 9th edition of his best-selling book, 7 Steps to Wealth.
When it debuted in 1998, the total value of housing in Australia was $1 trillion, and today, it’s a whopping $11 trillion.
Nearly half a million Australians have benefited from reading this book, many finding success by following the straightforward 7-step formula for investing in property to build their wealth.
When the book launched, there were 1.16 million Australians who owned an investment property, which is now worth at least four times more than their initial purchase price.
