January 9, 2020 by Dymphna

A $240,000 Profit From his First Property – The Lessons You Can Learn From Liam’s Story

The old mindset doesn’t work anymore. Discover how Liam escaped the traditional way of doing things and succeeded with property investment.

Go to university, get a job, get a mortgage, and retire.

How many of you believe that this is the best way to get ahead in life?

Unfortunately, I Love Real Estate (ILRE) knows that the answer is far too many. It’s the traditional way of doing things and we’re told, in no uncertain terms, that this is the way to succeed from our parents and our education system.

And it’s for that very reason that millions of Australians don’t get ahead.

Liam had the same ideas before he came to ILRE. But now, he’s on the road to the success that will create freedom in his life. Here’s his story…

Liam’s First Successful Property Investment

At 20 years old, Liam had followed the exact path that everybody told him to follow. He was at university and studying engineering and economics. In his mind, that would create the path to success that he wanted later on.

However, there was something in the back of his mind that told him that he needed to do more.

It was at this time that he first heard about ILRE. So, he sent an application to attend one of our seminars…

And we said no!

Never Giving Up

For a lot of people, that first refusal would be reason enough to give up there and then. But Liam treated it as the fuel that he needed for his fire. When the opportunity came to apply again, he jumped right on it.

This time, we accepted him into the ILRE community and he got to work.

Unfortunately, Liam didn’t start in the best position. His studies left him with about $30,000 in student debt. Plus, he had no prior experience with buying property!

He’d have to start from scratch if he was to achieve success.

Overcoming Early Frustrations

Liam dedicated himself to his education and he put hours upon hours of work into research.

But he just couldn’t find that perfect deal. Whenever something came up, he’s put the work in only to find that it wasn’t right for him. All of the while, he also focused on changing his personal life to create a successful mindset. That meant giving up on negative friendships and changing his entire social life.

It was an emotional time and Liam found himself getting increasingly frustrated.

However, he refused to give up. He knew that property was the key to creating the life that he really wanted to live.

Finally, he found the deal that confirmed everything that he’s learned with ILRE…

The First Deal

It all started while he was driving through a local neighbourhood.

Liam saw a house with a hand-painted “For Sale” sign and his interest got piqued. He called the number on the sign but didn’t get an answer. So, he started exploring the location and saw that it offered a lot of potential. 

Seeing as he didn’t get an answer from the first property owner, he made a strange decision:

He knocked on the door of the house next door and asked the owner if they wanted to sell.

Amazingly, they did! And over the next few months, he put time into building a relationship with the owner. On top of that, he finally got the opportunity to buy the other house.

But there was a problem…

He had competition from another buyer. And just as it seemed like he’d secured the property, that buyer put in an offer that was $100,000 above his own.

He called the owner and said he wouldn’t change his own offer. But he left it on the table in case the other offer fell through.

Amazingly, it did. And on top of that, the owner of the other house chose to sell to him too. Plus, she left all of her furniture behind!

Now, he had two properties on his hands, so he got to work. Liam moved the furniture from the second property into the first and started renting it out. And he put plans in place to build another building on the second block…

The Huge Profit

However, those building plans halted when the owner of another property came forward.

They wanted to buy that second block so that Liam wouldn’t build on it. Liam said okay and he ended up with a $240,000 profit!

That’s not bad at all for somebody who’s just turned 21. Now, there are a few lessons that we can learn from Liam’s story.

Lesson #1 – Don’t Follow the Traditional Path

What happens when you follow the traditional path that Liam was on before he came to ILRE?

You work for your entire life only to retire with just about enough money left over to enjoy yourself. You want more than that, which means you need to change your approach.

The traditional approach doesn’t work anymore. And the earlier you see that, the more time you have to build the future that you want.

Lesson #2 – Never Give Up

Liam faced all sorts of obstacles on his property journey. On top of our initial rejection, he also had to handle the stress of finding a bunch of deals that ended up not working out.

But he kept plugging away.

The lesson here is that things will come good if you put the work in and don’t give up on your dream.

Lesson #3 – Change Your Environment

Very few people talk about the importance of mindset when it comes to investment success. When negative people are a part of your life, they’ll pull you away from the things that will make you successful. 

Liam recognised this, which is why he purged his social circle of negative influences.

If somebody isn’t supportive of your efforts, they’re only going to drag you down.

Don’t let them do it.

Start Today and Build for Tomorrow

At just 21 years of age, Liam is in a great position to become a successful investor and developer. His early success has allowed him to line up even more deals.

At this rate, he’ll be a millionaire by the time he’s 30.

It’s never too early for you to start your career as a property investor. Liam is living proof of that and his success is an inspiration to all of the young guns out there.