Life is tough. At times, we’re thrown challenges that initially seem impossible to handle. But, as you know, when we overcome and beat each challenge, we become stronger.

Jo is a perfect example of someone who has turned tragedies into success. She’s gone through multiple hardships in her personal life and in her property journey… But she still came out on top and became a millionaire.

How?

Before joining ILRE, she had just recently divorced her husband. Thankfully, she had enough money to buy a house for herself and her three kids. While it initially needed a lot of patching up, it eventually became a wonderful home for them.

Jo said:

“That was the first house I bought, after all, I’m on my own with my kids. I was lucky to come out of my marriage with enough money to buy a house. It was a renovator, and it definitely needed some love. But yeah, that gave me something to really pour myself into.”

Her home was also used as security so her sister could buy a home. Because of this, the equity was tied up, and it couldn’t be used.

Soon after, Jo joined ILRE in 2012… And she discovered her passion for property.

She learned a lot of things, such as asset protection and the usefulness of joint ventures. It was also an excellent coping method, as she attended her first boot camp at the same time her ex-husband got remarried.
Despite this, she didn’t take property seriously for many years. It would take her until 2018 to attend her first super conference, and she only joined Platinum in 2019.
But after that, she went full throttle.

The Beginning of the Journey

Jo’s first deal back in 2019 was pretty big for a newcomer. It was a landowner joint venture (JV) knockdown and rebuild. But since it was her first time, Tam guided her through the process. Jo also had to sell her PPR to take out equity since she lacked serviceability.

Three homes were built, and two were sold. It was a great project since the land was sold at wholesale price.

This first deal taught her a lot, especially in terms of what a money partner requires. And since then, she has primarily focused on doing JVs.

For her next deals, Jo had a JV partner whom she met on ILRE. He was another divorcee, so they had a lot of common ground. Even better, both of them were able to find great deals and succeed greatly.

The second deal was an off-market JV. The existing house was removed, the titles were split, and two new homes were built. There was no agent’s commission for this one, and it bought really well despite COVID.

But that also meant there were a lot of delays and rising costs with the materials brought about by the pandemic. However, with the market rise, they sold the property for a lot more than originally estimated with their feasibility study.

Jo took home $303,794 with this deal.

The third deal was the same: another off-market JV. It also had the same strategy and the same troubles, but this went through an agent. Jo profited $221,411 from this deal.

For the fourth deal, it was an off-market JV again. The original DA was picked up, two existing QIders were renovated, and she applied to build one executive home instead of 3×3 storey townhouses.

This deal had a LOT of earnings, but it was undervalued by $300,000, which was a hassle. Delays also increased hold costs, and there were problems with the consultants from the original DA. Despite all that, it still earned Jo $252,583.

Deal five was a knock-down-and-rebuild JV. It was for a single executive home, and they had to apply to build this instead of four townhouses. However, the bank did the valuation last minute and was undervalued by $250,000. Jo and her partners had to scramble for cash, and they got funding through a private lender. But she still earned $186,289 from this.

Jo’s sixth deal was in the same area as her fifth deal. This time, it was a JV putting all three blocks under contract, subject to the titles being issued. This earned her $321,708.

The seventh deal was another JV knockdown and build. This property had amazing views, and Jo tried to sell it as a house and land package. But the market was very small, not to mention the house was expensive to build.

They then decided to redesign the property to suit the smaller market, and Jo negotiated with the back neighbour so they’ll sell a handle access strip at the back to get them an extra $300,000. As a result, she took home $118,255 from the deal.

This seventh deal was Jo’s last with her ILRE partner. Despite ending the partnership, she learned much about what being a money partner meant. She learnt about transparency and what partners expect from you.
It seemed like an ideal partnership. Still, they had to part ways due to a difference in personalities.

Moving on to Better Things

At this point, Jo gained a wealth of experience under her belt. She now has the skills and knowledge to navigate the property investing world on her own and choose which partners to work with.

Ironically, on her eighth deal, she partnered with a Platinum ILRE student for a knockdown and rebuild JV. This time, she was the one who was approached so that her JV partner could gain experience.

The property they chose was a challenge, with overland flow affecting house design and the builder providing a quote much higher than expected. So, they had to find another builder, which meant extra costs. But Jo enlisted the help of the ILRE community in finding a builder that fit their budget. And at the end of the day, she pocketed $75,814.

Deal nine was an on-market JV they found while in the area of the previous deal. The property was under contract with a long DD clause to try and get demo approval. While it was a 1915 house, it was allowed to be demolished, which helped them get two blocks of land. From this deal, she got $131,081.
Jo’s tenth and latest deal involved purchasing a new PPR for $1,330,398. She plans to renovate and sell it, but she’ll hold and enjoy it in the meantime.

That brings us to the present day.

By joining ILRE, Jo was able to find a way to sustain herself and her family even after her ex-husband stopped paying child support. In fact, she’s earning so much that her husband’s earnings are just a fraction of what she makes.

Even better, she also serves as a great inspiration for her kids. As Jo said:

“I’m basically financially free for the rest of my life. And it makes me really proud to show my kids that you can make money without just having to go to university and work your butt off for the rest of your life.”

Now, before meeting Dymphna, Jo had a PPR valued at $470,000…

Savings of $130,000…

And a super worth $130,000.

But after meeting Dymphna, Jo has a total combined property value of $34,839,000…

And total profits of $2,445,559.

More importantly, she can finally sustain herself and her family – she no longer needs to rely on anyone else. ILRE has helped her tremendously with all of the knowledge she gained when it comes to property investing and the fantastic network she formed.

As a mother, Jo wants the best for her kids. So, she plans to introduce them to ILRE as well so that they get the best life possible.

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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.

“I’m basically financially free for the rest of my life. And it makes me really proud to show my kids that you can make money without just having to go to university and work your butt off for the rest of your life.”