How to be the next Nathan Birch.
How to be the next Nathan Birch has been the question on a lot of peoples mind over the last decade.
Nathan’s success as a property investor has had many scratching their heads for more than a decade now.
But, while owning more than 200 properties seems out of reach for most, it is still possible to emulate Nathan’s success in the current market using a strategy of quality, not quantity.
How to be the next Nathan Birch, should not be question, but how to be the next … should be.
What does success mean to you?
While Nathan admits it would be pretty hard to build a portfolio this size nowadays, he says it isn’t impossible – it all depends on your position, the type of passion you have, and the options available to you.
“I’m sure someone could get 200 properties – I’m sure someone could get more,” he says.
“There are people that are more successful and have more wealth than me.”
“But, who are they? What is their life? What is their passion?”
He says there have been countless people in the world who have made a killing in the business they are in.
Even so, most people don’t need that many properties in order to achieve financial freedom.
He says, it would only take four properties owned outright to bring in $50,000 a year in passive income.
Seven properties could bring in as much as $100,000 – and we’re not talking about multi-million dollar houses here. We are talking about the sort of properties Binvested clients buy all the time – bread and butter investments that have an affordable price tag and an affordable rent.
It all depends on what success looks like to you. If success looks like an early retirement on a comfortable income, then it is definitely achievable in the current market.
And if you want more than this? Well, that’s achievable too – but it will take sacrifice, commitment and a well-thought out strategy to make it happen.
Nathan surprised himself.
Even Nathan had his doubts about what was achievable in the world of property when he first started investing.
“When I first started, I thought there was absolutely no chance in the world that I would be able to build a portfolio of ten properties,” he says.
“I’d never seen anyone do it. I was poor as f*#k. In my mind, I had nothing really going for me.”
He says it wasn’t easy and he made many sacrifices. He even sacrificed his youth – but he got there. And, then he got further, and further, and even further.
Yet, still, he isn’t satisfied with what he has achieved – he is still striving for more.
How can we emulate Nathan’s success?
In order to be successful through property investing, Nathan says it is essential to be clear on your goals. What does success look like to you?
How much passive income do you need in order to live the life of your dreams? How many properties would you need to own outright in order to achieve this?
“Owning five properties outright will give you about $75,000 a year,” says Nathan.
“The average wage is about $75,000 a year – you could use this to live on.”
Mapping out a plan of attack.
Depending on your financial position and your situation, you should have different options available. How will you achieve the success you are aiming for? Break your end goal down into smaller goals. Break these down into steps and map out a strategy on how you can achieve them.
Buy quality, not quantity.
If you want to live off your investing income, you don’t need to buy as many properties as Nathan. Instead, you need to be strategic with the kind of properties you buy – and this will all depend on your starting position.
You may have a high income and no savings – or you may have a big chunk of starting capital with a low income.
“There is no one size fits all approach,” says Nathan.
It is important to buy properties in line with what you need to achieve in order to help you reach your end-goal.
Your needs will be different at every step of the way, so it is also important to review your position regularly in order to see what piece of the puzzle to purchase next.
Education is important.
Property is just one part of the overall economy, and if you want to emulate Nathan’s success, you will need to know how the monetary system works.
There is no better way to pick Nathan’s brains than to sign up to BirchFEED. This is where he shares information about the things that are really happening – the sort of stuff you don’t hear in the news.
He also offers a mentoring program – which is perfect if you want advice from one of Australia’s most successful property investors.
Our clients are proof that success is possible.
Nathan says that some of his clients were able to retire during 2019. These were people who set themselves up with the right properties between the years of 2012-2018.
“We’re still seeing people retire. We’re still seeing people being able to do things to become financially independent – it depends on what your definition of success is,” he says.
“I can get people to 10 or 15 properties in this current market by being strategic.”
“There are sacrifices that need to come – just like what I took. There is also hustle and commitment required.”
He says it is possible to emulate what he has done – but you need to be able to do what it takes in order to make it happen.
And, you need to stick with your strategy – so don’t give up on those goals in 2020! Make them real and make them happen!
Remember, you aren’t striving for Nathan’s goals, you’re chasing your own! It’s not about copying what he’s done and aiming for the same results, it’s about utilising the strategies he has used and using the knowledge he has gained along the way to help you reach your own personal goals.
How do you become the next Nathan Birch?
You don’t … you become an enhanced version of yourself.