7 Steps to Wealth

Get the most out of property investment and secure your financial future 7 Steps to Wealth is the only real estate book in Australia endorsed by three of Australia's property billionaires. It shares John L. Fitzgerald's own 35-year proven property strategy, supported statistically and with real life case studies from readers of earlier editions. Now in its 8th edition the book is completely up-to-date with the latest census data, location criteria and growth forecasts. Most importantly the book exposes the difference between property and real estate, proving that it’s only the land that appreciates and that the buildings that sit on the land actually depreciate. Indeed 7 Steps to Wealth uses Warren Buffet’s secret of compound growth but adapted for Australian property investors. Fitzgerald proves that certain residential land is Australia's best growth asset –– and will continue to be given current record population growth. •          Unlock the secret power of compound growth and make it work for you •          Avoid the common mistakes that most property investors make •          Read case studies and testimonials from millionaires using the 7 step strategies •          Understand how to safely build wealth in property, be cashflow positive and still get a tax deduction. With Australia's record population growth, there is no better time for Australians to use this proven strategy to safely build wealth for a comfortable retirement, one that doesn’t mean relying on government welfare.

Acknowledgements ix Preface xi Foreword xiii Introduction: A fool and his money are easily parted xv Who is John L. Fitzgerald? xxiii Part I: Starting points 1 1 Why build wealth? 7 2 Why residential real estate? 17 3 A structure for growth 35 Part II: The 7 steps to wealth 47 Step 1 Buy land for capital growth 49 Step 2 Optimise your income 69 Step 3 Maximise your tax benefits 87 Step 4 Finance to build wealth 101 Step 5 Aim for affordability 121 Step 6 Make time work for you 133 Step 7 Be all you can be 151 Appendix A: Tenancy application form 167 Appendix B: Questions and answers 175