While he worked in a corporate health and safety role, he also knew he wanted to work for himself. But he wasn’t sure what exactly he should do and lacked direction.
At one point, Chris started a small consultancy. But it didn’t work out and he eventually had to close it down. He then had to look for other options.
Now, Chris always had an interest in property. And at some point, he remembered his first mentor. As Chris recalled:
“I met someone in my early 20s. I guess he was my first mentor. He just dropped a little golden nugget one day that he was retiring. But he was only 40, and he was a police officer, so he didn’t have a high wage.”
The reason his mentor was able to retire at 40?
It’s due to property investing.
That’s when Chris realised how profitable real estate was. After all, even an ordinary policeman like his mentor could retire early and live a luxurious and comfortable life.
He then did some research and stumbled upon ILRE in 2014. So, he attended an introductory one-day event in the same year… And yet he didn’t join.
His interest was piqued. But it would take a while before he could fully commit.
In 2015, he finally joined the Ultimate program and attended a boot camp. Armed with much more knowledge about property investing, he finally took the first steps to create his real estate empire.
Having zero properties and very little savings, Chris knew from the start that this would be a challenging journey.
But he was determined to make it work.
Chris’s first deal was a 1-bedroom unit in Cairns that he bought in 2014 — it was all he could afford at the time. It was also a naive purchase, as he bought it while he was still feeling confident after just attending the introductory event.
He purchased the unit for $100,000 and decided to do a buy-and-hold strategy with low expenses. It was rented out and he got a positive cash flow of $712.
While it wasn’t the most amazing first deal, it’s a good start. Experiencing the property investing process gave Chris valuable insights into how to proceed.
After spending six months searching for the perfect property, Chris soon closed his second deal – a PPR – in 2016. It was a three-bedroom, two-bathroom house in Burleigh Waters.
To acquire it, he borrowed $60,000 from his parents and committed to paying it back within two years. Of course, he paid it off and even achieved a loan-to-value ratio (LVR) of 85%.
The house was renovated in 2018, and its current valuation is $1,000,000.
Unfortunately, for his third deal, Chris encountered some problems. He borrowed another $60,000 from a family member and did a new-build five-bedroom, three-bath with a pool. This was the first project he started as a business owner; he expected to make $150,000 in profit but only made $23,000.
“We made two key mistakes. First, we chose the wrong agent. And I’ll be honest with that. Secondly, we were also trying to sell right amid COVID.”
But he was able to bounce back.
His fourth deal was another new build that was started in 2020. It was an unconditional purchase on a very difficult block of land to build on. But despite that, a five-bedroom, three-bathroom, two-car storage house with a pool was built.
Now, there were delays with contract signing and build completion. But there weren’t any other significant problems. It was sold at auction on October 20th and settled on November 10th.
Chris’s projected $500,000 profit wasn’t met, and he only earned $300,000. Although this was unfortunate, it was much better than the previous deal.
Things were looking up.
Serious money came with his fifth deal. The DA approved a great location in 2021, and five townhouses were built. What’s more, investors were on board, so Chris didn’t shell out any money.
While expensive to finance and build, it was a worthy venture. The townhouses were pre-sold within weeks of hitting the market, projecting a net profit of $1,081,660.
As time passed, Chris started focusing more on developing expensive, high-end properties. It’s because by dealing with wealthier clients, he was able to make a lot more money.
His sixth deal was a joint venture (JV) duplex build. It was purchased in 2022, with a 7-day DD clause only. The property would be knocked down, and a high-end duplex would be built. This project is expected to earn him $555,283 in profit.
Deal seven was essentially the same, except the renter stayed on after settlement. Chris already obtained all plans needed for DA settlement in advance. And this build is expected to net him $577,205.
His eighth deal was a new build for four luxury apartments. It was purchased at auction in 2022 with a 15-week settlement.
It was a 50/50 JV partnership, and Chris came in to help settle the site. A precedent was set in the area, and the impact was assessed.
While more investors needed to be onboarded, it would still make a massive profit. In fact, the project is expected to earn $2,431,388.
For the ninth deal, Chris and his wife purchased a new PPR using equity from their residence. It’s currently rented out at $950 a week and is an excellent future reward to them, as they plan on rebuilding and finally living in it.
The tenth and latest deal is a JV subdivision build for two luxury homes. The property was purchased in 2022 with a 120-day settlement. And it’s a build that is projected to make $968,891 for Chris.
Chris came from nothing and reached greater heights. From struggling to finance a single unit to now developing luxury homes, he’s come a long way.
Before meeting Dymphna and joining ILRE, Chris had zero properties…
And no real estate experience.
But after becoming an ILRE member?
Chris now has a combined property value of $34,745,000…
And a share of $2,229,020.
“I’ve been able to leave my job. So, I’m able to pay myself a regular wage just from the income coming in from the property deals that we’re doing.”
Now, he’s achieved financial freedom and can live his life the way he wants to. He also achieved all the goals he set for himself way back when he joined ILRE in 2015.
He quit his 9-5 job and recalibrated his life.
He can connect more with the people he loves.
And he can even prioritise his health now and live an active lifestyle.
ILRE helped Chris find his true calling and succeed in it. And now, he wants to give back and help other ILRE members succeed in real estate.
Discover how you can create a new and exciting life with our unique real estate system to create passive income forever.
Schedule your exclusive, personal Property Genius Blueprint Call today and create a customised plan to potentially never worry about money ever again.
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 just an average person with a desire to make something happen for myself and those that are most important to me. If you believe in yourself you can do it too. I honestly believe that. And I hope one thing you take from this is, YOU could be standing where I am now.”
POST ILRE RESULTS
Deal 6 – Estimated
Deal 7 – Estimated
Deal 8 – Estimated
Deal 9 – Estimated
Deal 10 – Estimated
Current Position (excl. sold properties)
Profit/Equity: Total: $6,492,915 Our share: $2,229,020