From $630K to $40 Million In Just 21 Years


Investor sells land worth over $40m
Tuesday Oct 21, 2014 AnneGibson

Accidental property investor just wanted land for his lawn business.

Alan Wallace is an accidental property investor, signing a deal due to settle next year to sell a 16ha East Tamaki site for more than $40 million after paying $630,000 for the real estate 21 years ago.
He and wife Dianne never dreamed they would get so much.
“Most people selling up get all excited. I didn’t buy it to make money. I bought it for my turf business,” said Alan Wallace, a keen cyclist and photographer who turned 70 in August.

Link:

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11345438

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