Latest news with #HendersonAdvocacy
News.com.au
9 hours ago
- Business
- News.com.au
‘Lost the plot': Insane price of dilapidated Sydney house
A dilapidated two-bedroom terrace in Sydney's inner-city has hit the market for a staggering $1.4 million – and it's raising more than a few eyebrows. The Erskineville property, which comes complete with 'peeling paint, crumbling brickwork, and an overhead flight path,' according to Domain, is being marketed with a straight face – and somehow, a straight price tag. The 1870s 'cottage' is said to be one-of-a-kind and holds status as one of the last remaining original Victorian terraces in the suburb. It features a rusty tin tub in the backyard with a single cold water tap that offers 'a back-to-nature bathing experience.' Whether this feels charming or more like an at-home haunted house experience, there's no doubt the property is in need of some major structural therapy. The 153 sqm property boasts the 'opportunity to build a statement home' with development approval granted to transform the terrace into a three-bedroom, two-bathroom family house. Aussie landlord Jack Henderson told that Sydney has become 'a city for the rich.' 'It's the New York of Australia, for the average young person its too expensive,' he said. The 28-year-old runs popular buyers agency Henderson Advocacy, and has amassed a $40 million dollar property empire, securing 15 investment properties. Mr Henderson believes the Erskineville property is going to be a 'very big auction.' 'It will undoubtedly go for higher. My guess is around $1.6 – 1.7 million.' The property mogul has previously divided opinions after advising Sydneysiders need to 'Be rich or don't live here.' 'If you're not rich live somewhere else. Australia's a big f**king country,' he said. 'It's a great opportunity' Residential sales expert Cameron Airlie told that despite the dilapidation, the home provided great 'opportunity for someone who has an appetite for renovation.' 'The land-size is small. It's not a huge property, and would likely cost someone close to $1 million to renovate it,' he added. 'However, despite sounding expensive, it is affordable. Terraces and semis around the area are going for two to three million dollars,' Mr Airlie said. The median property prices in the small inner-west suburb over the last year have ranged from $1,899,000 for houses to $1,100,000 for units. Last year, a first-home buyer sent shockwaves through the small suburb after securing a four-bedroom cottage for $3.22 million – five fold its last sale. So who is actually showing up to these auctions? Mr Airlie believes the demographic is broad and could range from developers looking to flip it, young couples and families trying to get into land, or even people looking to get out of strata. 'The older generation are mainly going for penthouses or downsizers whereas we're seeing a lot more of younger people getting help from the bank of mum and dad when it comes to getting a foot in the door,' he said. Naturally, social media had more than a few things to say about it. 'Sydney has lost the plot,' said one. 'I hate this city,' said another. 'Needs another two million to make it liveable,' said a third. However, others were more than impressed with the narrow terrace, branding it an 'absolute steal.' 'Imagine how nice it will be once it's restored,' said one viewer. 'will be beautiful if renovated,' chimed another. 'After a renovation it'll be worth $6 million,' speculated a third. The home is set to go auction on 21 June. Whether it fetches more than the $1.4 million guide remains to be seen – but one thing's clear: Sydney's property prices aren't peeling back anytime soon.
News.com.au
02-06-2025
- Business
- News.com.au
‘Pressure': Landlord Jack Henderson reveals problem that arises when you become rich
Controversial Sydney landlord Jack Henderson has revealed why it is harder being a millionaire than people realise. Mr Henderson, 28, runs Henderson Advocacy, a popular buying agency in Sydney and is often going viral for sharing his divisive opinions. He caused a stir earlier this year when he boldly declared, 'Paying off your mortgage is stupid,' and now he is revealing the perils of being a millionaire. In a lengthy post, he claimed that he has gone from earning an annual income of $100,000 to now raking in $2 million monthly. The catch? Life hasn't become easier. 'When I was 18-19 years old I was earning close enough to $100,000 working 6 days a week in civil construction, and I felt as rich as I do right now,' he said. 'I had next to no expenses. All disposable income but with 1 per cent of the daily anxiety and stress I carry right now.' The landlord explained that 'chasing big numbers' comes with a cost and that the more you earn, the more stress you experience. 'People think more money comes with less stress and worry. When in reality it generally comes with a lot more just in a different form,' he said. Mr Henderson claimed that when he was earning $100,000 and didn't have any big worries, but now that he runs a business, there's a whole lot more to be stressed about. 'Every decision feels like it has the potential to change lives — not just mine, but my teams, my clients, my families,' he said. 'The pressure is relentless. The fear of making the wrong move, of disappointing people, of losing it all. 'That pressure and fear grows with every zero you add to your income.' Mr Henderson declared he doesn't want to discourage anyone from chasing success but wanted to point out that money isn't always the answer. 'I am saying don't expect it to fix your problems. Money fixes money problems, that's all. Because no matter where you are on the ladder, there's a price to pay,' he said. 'You just have to decide if the cost is worth it to you.' The 28-year-old self-proclaimed millionaire said that people say to him all the time, 'If I was making that money, I'd retire and just sit on the beach.' But he argued that people with that attitude don't have the mentality to make the kind of money he makes in the first place. Ultimately the landlord believes that everyone picks their own 'poison' in life and focusing on wealth creation is what he has landed on. The property expert has previously caused a divide by sharing his controversial claim about Australia's most expensive city. 'If you're not rich, you can't live in Sydney,' he said. 'Every country evolves, their populations get bigger, and cities get more expensive.' Mr Henderson argued that if you're an American, you're likely not complaining about not being able to afford to buy an apartment in New York City because there's an understanding you need to be really affluent to own property there. The 28-year-old argued that people need to accept that Sydney is becoming like New York City and that it is unaffordable. 'Be rich or don't live here. If you're not rich live somewhere else. Australia's a big f**king country,' he advised.
News.com.au
23-04-2025
- Business
- News.com.au
‘Rich people': Controversial landlord Jack Henderson divides with ‘Sydney claim
Controversial Aussie landlord has claimed if you're 'not rich, don't expect to live in Sydney', sparking a heated online debate. Jack Henderson has amassed a $40 million dollar property empire, securing 15 investment properties and renting a home in Sydney's affluent Paddington. The 28-year-old runs Henderson Advocacy, a popular buying agency, and is no stranger to a controversial opinion. He famously advised that 'paying off your mortgage is stupid' and, despite Australia's housing crisis, has also claimed that it has never been easier to buy. The property expert has now caused a divide by sharing his controversial claim about Australia's most expensive city. 'If you're not rich, you can't live in Sydney,' he said. 'Every country evolves, their populations get bigger, and cities get more expensive.' Mr Henderson argued that if you're an American, you're likely not complaining about not being able to afford to buy an apartment in New York City because there's an understanding you need to be really affluent to own property there. The 28-year-old argued that people need to accept that Sydney is becoming like New York City and that it is unaffordable. 'Be rich or don't live here. If you're not rich live somewhere else. Australia's a big f**king country,' he advised. Mr Henderson's opinion immediately caused a fair amount of fury from people who claimed all cities need working-class people to function. 'I guess Sydney will have to become accustomed to not having baristas, retail, nurses, teachers and cleaners etc.,' one argued. 'It is difficult to understand that societies don't function with only 'rich people'. Rich people don't want to live in a city where only [rich] people live because many services they want and need won't be there with no one to provide them.' Someone replied to that argument, 'Have you ever heard of travelling to work?' Another person argued that middle-income earners should live in more affordable suburbs in Western Sydney, instead of near the beaches. 'Why would anyone want to work at a cafe if they live two hours from Sydney?' another pointed out. One homeowner jumped in and said they own a property in Sydney's Inner West and are in the top five per cent of earners, but they certainly don't think average wage earners should have to flee Sydney. 'The answer to the housing crisis isn't that people that just keep moving hours and hours further away from where their work is,' one wrote. The comment section was also just filled with people shocked by Mr Henderson's comments. 'You're so out of touch,' one said. 'Obvious rage bait,' one Aussie critiqued. 'This is the problem,' someone else claimed. There were also people who agreed with Mr Henderson's theory that only the rich should reside in Sydney. 'I don't understand why people have a hard time understanding this. People just want to be a victim and cry about life rather than understand they are the captain of their own life and circumstances,' one claimed. 'You are not entitled to live in a particular suburb or even city, just because you are a citizen. It has always been the case. 'Agree with this. Areas outside of these four cities are constantly screaming for staff with median house prices less than half the price too,' someone else said. 'So true,' one agreed. 'Spot on!' another remarked.
Daily Mail
23-04-2025
- Business
- Daily Mail
Sydney is now for the rich, claims property investor - poorer Aussies should look elsewhere
A young Aussie real estate investor has issued a tough warning to those looking to buy their first home in Sydney. Jack Henderson, 28, who has a property portfolio worth more than $35million, has warned Sydney's property market is only accessible to the rich and Australia's other big cities are following closely behind. 'Rich people live in Sydney and if you're not rich, you can't live in Sydney,' he said. 'Any country evolves, the population gets greater, their cities become more expensive. Mr Henderson compared Sydney to New York and claimed Americans are unlikely to complain about not being able to buy property in the Big Apple as it's a notoriously expensive city. 'If you are born in the U.S. today do you go I can't beleive I can't buy a property in New York. 'Of course you don't, because it's New York and really rich people live in New York.' The real estate agent encouraged Australians to adopt the same mindset and look beyond living in the country's big cities. Mr Henderson told those who hope to live in Sydney to 'be rich or don't live here', before adding that the capital of NSW is not the only city prospective buyers should be wary of. He listed the Gold Coast, Melbourne and Brisbane as also being cities where Australians need to be rich to live there. 'These are cities where you need to be rich. If you're not rich, live somewhere else. Australia's a big f**** country,' he said. 'And then people [say] "What about work? Where am I going to work?" Less than two years ago it was, "There's no staff, staff shortages."' Mr Henderson's comments sparked a furious debate as many questioned the idea that only 'rich people' should be able to live in Australia's big cities. 'Unfortunately society doesn't work that way. You need the teachers, the baristas, the cleaners to be able to afford to live there. It may be small [one bedroom apartments], but something must be available,' one commented. 'All cities should have a range of housing types available for the range of workers that are required by the society,' another argued. However, one disagreed, adding: 'True god it frustrates me so much people complain so much but they can always move. 'There's plenty of work outside the big cities. And you really don't need to live in the same city your parents do.' 'This is why I moved to Perth, high pay and low cost of living, it was a sacrifice I made with my wife and two boys and after two years we get the keys to our first home, it's not impossible to make a change,' another added. Henderson, 28, bought his first property at 18 while working in construction and living at home in Western Sydney before moving to Newcastle at 21. He then opened his buyer's agency Henderson Advocacy in 2020 and now owns 15 homes.
