How I built my wealth and business in property – Greville Pabst

Hello, my name is Greville Pabst, I am CEO
of the WBP Property Group. WBP is one of the largest property advisory and valuation groups
in Australia. I’ve been a valuer in the property industry for the last 30 years. Since I left
school at 18 years old I’ve always been passionate about property, not just from a professional
sense but personally it’s been the cornerstone of my private wealth creation. Nowadays I’m
no longer in the field, I see my role now as more of an educational one, helping my
clients make better decisions when buying property. What concerns me the most is the
mistakes people make when buying investment property which could simply be avoided by
seeking professional independent advice. Of course not all property performs the same
and in our valuation business we undertake some 350 valuation inspections per day. Many
times a valuation will be returned lower than the contract price. This can be a significant
risk to the borrower because either they have to come up with additional funds in order
to settle the contract or they lose their deposit.
My personal life When I’m outside of work I really like to
spend time with my family. I’ve got two teenage sons, I’m really active in their sporting
pursuits — swimming, tennis, so I’m often a coach, a mentor and a taxi driver in many
respects. When the boys aren’t spending time with their sport on the weekends, we love
to get down to the farm where I can get out into the fresh open air, get on the tractor,
get the chainsaw out, cut up some firewood. I just love getting down there with peace
and quiet with my family. I’m also a passionate supporter of the Western Bulldogs footy club
and hopefully I’ll just see one premiership in my lifetime.
Most commonly asked question… The most commonly asked question I get at
a dinner party when people find out I’m in property, is ‘When is the right time to buy
property?’ Well the right time to buy property is when you can afford it. It’s not about
timing; it’s about time in the market. So the key to getting wealthy through buying
property is to buy a very good property and is just to hold it for a very long time.
Why is education so important? I see education in being vital in helping
to shape the industry and in my role as CEO of WBP Property Group I do that via numerous
talks that I do to industry groups, through our Property Symposiums which we hold once
a month and through my participation and role in the media where I’m often called upon to
give advice on property. When investing in property, don’t risk a guess.
Seek professional advice. When buying or selling property, let my passion
and experience over the last 30 years guide you in making better property decisions. For
more information when buying or selling property visit our website for a whole range of free
resources or contact us today.

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