Property expert Jack Henderson’s tips to owning more real estate wealth
A Sydney-based buyer’s agent has taken to social media saying he’d much prefer to invest in more real estate than spend all his income paying off debt. But some homeowners aren’t happy.
An Aussie property pundit has caused outrage by saying it’s “stupid” to pay off a mortgage.
After amassing a number of properties from 18-years old, Jack Henderson founded the Sydney-based company Henderson Buyers Agency in 2020 and later published his book, “The Flamingo Way” based on building wealth through real estate.
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On Tuesday, he took to social media and said real estate was one of the best long-term investments, but there was one major thing people overlooked.
“Everyone knows a Nan and Pop or an aunt and uncle who have lived in the same house forever,” he said.
“Those family members spent decades trying to pay off their mortgage.
“In reality, the real wealth wasn’t created by paying the debt down to zero. The wealth came from the property increasing in value.”
Henderson added that because property values increased over time, he’d much prefer to invest instead of spending all his income paying off debt on one home.
“I focus on acquiring multiple properties and letting time do the heavy lifting,” he said.
“If I know that debt naturally becomes less relevant over time due to inflation and property growth, why would I rush to pay it off?
“What I say to most people is instead of buying one property and paying it off, why not buy two and let them grow?”
But his online audience was not so agreeable.
One person responded to the social media post and said: “Literally no one thinks paying off your mortgage is stupid.”
Another commenter said: “This is one of the dumbest things I’ve read in awhile. I paid my mortgage off right before I turned 40. I wouldn’t change a thing.”
“This is “advice” coming from someone who has no clue about personal finance. Enjoy paying triple the amount of interest with your mortgage strategy,” a commenter said.
Another social media user said: “Everyone who actually read this is now dumber.”
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