The AFR rich list came out last week and it is a great read. I find it quite inspirational to see that the majority of these people started with nothing and now are the wealthiest people in Australia.

50% of the top 10 richest have made their money through property over 50% of the top 100 owe their fortunes to property.

One person on that list I find very interesting is Harry Triguboff. His strategy is very simple. To build and hold as much residential investment property that he can. Using this strategy he has amassed a portfolio with a value of almost $13 billion. He has a formula that he knows works and more importantly can be replicated. This is a lot like a franchise. If you understand how property works, you have goals and a plan to achieve those goals, then it is possible to create a huge fortune in property. Just like Harry.

If you would like to review the rich list then please follow the link: