A love-struck young immigrant went from earning $9ph to pulling in $30,000 a year from a $3.6m portfolio… and got the girl!

Richard and his girlfriend Jane landed in Australia in 2007 with a suitcase of clothes and just $5,000 in cash.

Living in a crowded boarding house and studying IT at university, Richard thought himself lucky to be earning $9/hr waiting tables at a restaurant in Darling Harbour.

In China, that was big money.

When they graduated and moved into their own rental apartment, Richard was happy. They had made it and Richard was ready for the “happily ever after.”

Jane had other ideas.

Jane wanted more from life. She didn’t want to be average and always struggling to get by. And she wanted to be able to help her parents. She just couldn’t see any future with Richard that excited her, and announced that she was moving out.

Richard was devastated.

Richard begged Jane to give him another chance. He would turn their life around, and build a future that would excite them both. Jane moved out of their apartment, but promised not to sever ties.

Richard was on notice. How could he turn their life around?

About this time, his new housemate lent him some books on property, and rekindled a long-held fascination with property.

However, he wasn’t managing his money well, spending a lot on Jane and flashy dates and cruises. Before long he had $40,000 worth of credit card debt across five separate credit cards. He also lost money trading ForEx with no idea what he was doing. He just couldn’t bring himself to tell Jane.

And so, hoping to turn thing around, he joined Dymphna’s Ultimate program in 2012, signing up to the payment plan and putting it all on his credit card.

Richard suddenly had an answer. He could see how he could solve his financial problems, and create an exciting life for them both in Australia. He threw himself into his education and deal-making, and in just 4 short years, he has amassed a 10-property portfolio, worth over $3.6m, and delivering $30,000 pa in passive income.

And he got the girl! With his financial situation turned around, and a mission-driven life forming around property investment, he had a future he could offer his beloved. Jane travelled across the country with him looking at deals, sharing his growing passion for property, and finally agreed to marry him on a romantic holiday to Fiji.

After ten years together, both off and on, Jane and Richard were finally married.

All thanks to property investing.

A quick look at Richard’s deals shows that a strategy of searching far and wide for the right deals, and a willingness to muck-in and do the hard yards with ugly ducklings can really pay off.

Deal 1 – Reno’ing the PPR

Like most investors, Richard’s journey began with his PPR. He renovated the laundry and added a second bathroom, increasing the valuation by $65,000 and immediately wiping out his credit card debt. He has also recently added a granny-flat, increasing the valuation to $1.15m.

Deal 2 – Entry Level Investment Unit

Richard’s first investment play was a unit in Western Sydney, which he purchased for $289,000, and renovated to increase its value to $375,000. It is currently negatively geared, but well positioned for growth.

Deal 3 – The Regional Cash Cow

Richard then purchased a property in in regional western NSW for $153,000. He then added a granny flat to increase the rent to $510/wk, making it positively geared to the tune of $10,000 a year.

Deal 4 – Regional Rent-to-own

Richard’s fourth deal in another town in regional western NSW. Purchased for $220,000, Richard has a rent-to-own agreement in place with the current tenant. The option fee increases the properties cashflow position, delivering a net $6,000 pa a year, with an expected back end profit of $50,000 once the sale is complete.

“Jane pushed me to be a better person. I went from being a naïve boy to a real man with the power to look after his family. But I couldn’t have done it without the ILRE community.”

Deal 5 – The Drug Den

Richard’s next purchase was an ugly-duckling unit in Western Sydney. The agents were having trouble selling the place because whenever they took prospective buyers to inspect they found heroin addicts in the stairwell, or prostitutes plying their trade in the communal areas.

However where others saw a disaster Richard saw an opportunity. He took control of the body-corporate and used the sinking fund to fix up the stairwells and get rid of the junkies and prostitutes.

Together with some minor renovations of his own, Richard has managed to increase the valuation of his purchase by $60,000 in just a few months. One year later, he entered into another rent-to-own agreement and has a potential back-end profit of $190,000 when the sale is complete.

Deal 6 – Another Cash Cow in the Country

Richard decided to purchase another property in regional western NSW to improve his cashflow position. Purchased for $152,000, this property is already delivering positive cashflow of over $4,000 a year. Richard is happy with this property as is, but may renovate if the existing clients move out.

Deal 7 – Mortgagee in Possession

Turning to regional north coast NSW, Richard found a bargain basement property for $50,000, with plywood over the windows. With some basic renovations this property is now valued at $60,000 and is delivering $5,600 p.a passive income.

“To achieve financial freedom, you need educational freedom. I never had it at school, but now I do and look where it has got me.”

Deal 8 – a Joint Venture in the Blue Mountains

In a joint-venture arrangement where Richard provides the servicing and his partner provides the cash, Richard purchased a cheap property in the Blue Mountains with a view to renovate. Purchased for $478,000, they expect to be able to sell for $800,000, for a total profit of $150,000.

Deal 9 – Regional Strata Title

As the working and servicing partner, Richard has purchased a property in regional western NSW with multiple dwellings on it. His strategy is to renovate and strata-title, which is expected to increase the valuation by over $150,000. However, he may hold on to this property, as it is already delivering $5,000 pa passive income.

Deal 10 – The Sub-division

Richard is now in early stages of purchasing another regional property with two houses on one lot. He plans to subdivide the property into two lots, increasing the valuation by $100,000.

Advice to Investors

Richard’s success is a case study of dedication and application. Richard threw himself into property investing, cutting out ‘time-wasters’ from his life, including the T.V.

Richard also knows the relationship benefits that come when you are working side-by-side with your partner to create the life you want. Property investing has brought Richard and Jane closer together, and given them both the ability to create the life of their dreams…

… and live happily ever after.

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These stories and the results in them were captured at a specific point in time. The real estate market and the investing strategies used to succeed are constantly changing. The achievements and results of these investors may have changed since these stories were recorded. Each of these investors engaged in in-depth training, coaching and mentoring to be able to achieve these results. Their results are not typical and should not be taken as a guarantee of the results you may achieve. Your personal results will be in-line with the training, education and hard work that you personally conduct.

“Love is an energy. Convert love to energy and then energy to wealth, and then use that wealth to feed your health and relationships.”

Richard's Achievements

Before Dymphna

  • $40k bad debt with 5 credit cards
  • I may lose my dream girl due to poor financial status
  • Groupon addiction
  • Couldn’t afford Dymphna

Since Joining in 2012

  • 10 properties
  • Over $1,000,000 in equity
  • Over $30,000 passive income