Oracle of Australian real estate shares secrets of investment success

What Warren Buffett is to Wall Street, Harry Triguboff is to the Australian property market.

‘High-rise Harry’, as he is affectionately known, is Australia’s biggest landlord, with 9,000 units across Brisbane, Gold Coast, Sydney, Canberra and Melbourne.

Harry’s formula for success is one we all should be aware of and follow.

Harry’s property investment formula

It all began in 1963, when Mr Triguboff developed his first 18-unit apartment block on Meriton Street in Gladesville — a street that would lend its name to what is now one of the most successful private development companies in the country, Meriton.

But Harry’s real breakthrough came in 1974. Caught in the grip of a global recession, Mr Triguboff found himself $18 million in debt and unable to sell several of his completed apartment projects.

Instead of folding under pressure, he pivoted.

Triguboff rented out the unsold units to cover the interest, holding them until the market recovered.

As the years passed, something magical happened: rents rose, values climbed, and a formula was born.

And he didn’t just use that strategy once — he repeated it, over and over again, especially during economic downturns. That strategy built him $26 billion in net worth, largely thanks to the long-term appreciation of 9,000 well-located properties that generated consistent cash flow.

Applying Harry’s formula

You don’t need 9,000 units to follow in Harry’s footsteps. His formula is surprisingly simple — and it’s applicable to all of us:

1. Own land, not just property

The real value lies in the land underneath your property. Land in Australia has outperformed nearly every other asset class — growing at 5 per cent above inflation per year for the past five decades. With leverage and rental income factored in, the returns are even better

Harry’s units provide income. But it’s the land that has multiplied his wealth.

2. Cash flow is your oxygen

In tough times, it’s not the headlines that matter — it’s your ability to hold on. Having reliable cash flow helps you ride out interest rate spikes, downturns and unexpected life events.

Harry turned a crisis into a strategy by renting out units to stay afloat. You can do the same with a solid plan A, B and C for your cash flow.

3. Time Is the Ultimate Multiplier

Harry didn’t build his fortune overnight. His first $1.6 billion took 40 years to amass. The next $24.4 billion came in the following two decades.

That’s the magic of compound growth — slow at first, unstoppable later. Property wealth swells like a snowball. The earlier you start, the bigger the growth.

My advice is to start now. Build your portfolio, hold it for as long as possible, and improve your returns over time through rent increases and land-use changes.

There’s plenty of noise in the market right now. Tariffs, inflation, rate cuts — it’s easy to get distracted. But rather than obsess over predictions, observe what successful people are doing.

Take it from the man himself. In an article this week, Harry wrote: “Because of the tariffs being raised by the United States, costs will go up. But we all believe that because of these greater costs, the Reserve Bank will lower its benchmark rate. The market now expects four to five interest rate cuts this year.

“So, the best thing to do is to buy as much as possible and as soon as possible.”

This is coming from Australia’s most successful property investor — a man who has made billions navigating through economic uncertainty.

When Harry moves, it's best for the rest of us to pay close attention.