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

The author is John Fitzgerald. He controls well over a hundred million dollars of property and has consistently done that for more than 30 years. Accumulation, that is. The difference between him and someone else you might listen to is that he has the numbers in dollars to prove it, whereas many others have just a colourful story.
John first registered his business on October 13, 1981, that's over 30 years of continuous success. His educational arm – Custodian started in 1998 has helped thousands of Australians build wealth through a well-structured property portfolio and proven system as outlined in 7 Steps to Wealth. Our clients’ properties have increased in value by close to $1 billion which takes the total client’s portfolio to more than $2.9 billion, a true testament to not only John's education but also that real estate is the proven way to build wealth.
In that time, John has bought, sold and developed more than 10,000 properties. John has helped create hundreds of millionaires, with case studies to prove it. These defined ‘millionaires’ are people with four or more properties – over 11 times the national average. This equation puts those clients in the top 1% of all property investing Australians.

7 STEPS TO WEALTH IS A PROVEN FORMULA YOU CAN REPEAT AGAIN AND AGAIN TO REACH FINANCIAL FREEDOM.

"I congratulate John on his compelling insights into how to make real estate work for you." –Maha Sinnathamby, Top 100 BRW Billionaire

"John is not just an author; he has been in property for 35 years and built his own fortune. Every Australian must read this book." –Bob Ell, Top 100 BRW Billionaire

"This is the best book for property investors. John's book should be taught in every single high school." –Nev Pask, Top 100 BRW Billionaire

WHAT THIS BOOK WILL TEACH YOU THAT NO OTHER BOOK WILL:

• The one secret of all financial success
• The biggest mistake made by Australian property investors
• How to have positive cash flow and still get a $10,000 tax deduction
• Established capital benchmarks and best location identifiers
• Why you can't trust the banks
• How to build your own land bank
• Why you should never buy apartments as investments
• How to turn $100,000 into $1.28m with case studies from Aussies who've done it