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Michael Lezaja Reveals: How I built my $5m portfolio using smart renovations and diversification

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Your Investment Property | 14 May 2015, 12:00 AM Agree 0
In less than 10 years, Michael Lezaja has gone from working as a security guard seven days a week to owning 15 properties collectively valued at more than $5m. He tells John Hilton how he maximises his profit using renovation and diversification strategies
  • Howard | 14 May 2015, 07:44 PM Agree 0
    This guy got lucky.
    Let's examine a person with an average wage in this moronic buying spree with low interest rates and people loaded with emotion.... Let's see if they can do this with the current rental return of less than 3 to 4%!!

    It's all a hoax unless your already a property owner, a high paid person or silver-spooner type.

    Property is great, but the IMF stated its 25% over priced and I dare say more than that really.
    Shame to you all. You are selling out your children's future for a quick penny now..... Fools.....
    • Tegan | 14 May 2015, 09:49 PM Agree 0
      It has nothing to do with luck and you definitely don't need a silver spoon to invest, you just need to make smart choices. If you can only find properties with a 3-4% return you must be looking in the wrong place.
  • Brett | 15 May 2015, 02:19 PM Agree 0
    You make your own luck Howard and I hardly read that Michael was a high income earner or silver spooner working 7 days a week and sleeping on the floor after buying his first house. 3 to 4 % returns ? Why would you buy these properties if your a low income earner ? Why wouldn't you look for a higher return elsewhere than inner Sydney CBD . I wouldn't hold your breath waiting for the market to drop 25 to 30% . Sorry if you can't afford your dream home in this market so you Blame everyone else for your inaction
  • Mrs Hoffmann | 07 Jun 2015, 09:20 PM Agree 0
    As a property investor, a Queenslander and living my first 17 years of my life in Logan, it is important to understand that this area's property market bounces from the low $180k - a high of $300k. You buy in Logan for income, not capital gain. Logan also has a history of houses being trashed by tenants ( I know, because I lived and worked in Logan property). The buyer's timing was excellent, as 2013 was a buyer's market. Logan is 100% not a location where I would park my money, much like Mansfield Park or Elizabeth in SA.
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