Since then, I’ve been fortunate enough to rebuild myself and
earn complete financial freedom a second time around with small-scale property developments within just 6-years of getting started.
- On my first deal – I stacked 3 strategies into the one deal, a subdivision, 6 Townhouses and rooming house combination – I made $1M in profit. And opened up a $210K per year stream of positive cashflow.
And at the age 43, I quit my IT job for good after that one deal.
Then I made the leap to being a development pro and started using creative funding strategies as I no longer had a traditional job to fund my projects. I was also seeking more frequent “pay days” so the deals got smaller, quicker and easier...I was refining my craft.
- On my second deal, I found a money partner to fund the whole thing. We walked away with $117k after a simple “Development Approval and flick” of the site with no construction. It only took 9 months.
- And on my third, I made another $118k. Again with "no money down"...Again in just a few months!
What I learnt in going backwards in deal size initially was that the whole "no money down" element was all in my head, and now that I had conquered it I knew that I could simply apply the same principle to larger deals again.
In fact... I shouldn't let my lack of resources impact my ability to be resourceful.
And – unlike many “educators” – I’m still developing to this day just to keep my mind sharp (and because I simply love the process of making money out of thin air!).
I’ve recently just closed out on a couple of my projects, and am haggling on a 100 lot land subdivision, and a 24 apartment complex.
Over the past 10 years, I’ve also had the pleasure of starting and running the largest and most active property networking community in Australia (over 23,000 people) – The Property Developer Network. Every single month, in Melbourne, Adelaide, Brisbane and Sydney, we showcase our members “Real Deals” and show others how it’s done.