You’re probably already wondering what Scrabble has to do with property investing.
Desley’s story explains everything!
A former farmer, Desley’s now a successful property investor thanks to her hard work with I Love Real Estate.
Her story shows us that…
Desley worked as a farmer with her family for about 30 years. And she says that during that time, they managed to get two good crops.
The rest of the time, she’d spend about $200,000 to plant something and nothing happened. Droughts meant there was no rain, which meant no crops.
Her family got into a ton of debt because of it.
You’re still wondering what Scrabble has to do with anything.
Desley’s one big mistake saw her drive a tractor through 1.5km of the best cotton the farm ever grew.
She got relegated to doing the housework and heading over to the neighbour’s house to play Scrabble after that.
But the farm had bigger problems than that. Eventually, Desley’s family decided it was time to sell and move on.
A process they thought would take two years took one day.
They sold the farm and ended up with a question:
What do we do now?
The family moved to the Sunshine Coast, which Desley adores. But now, they had a swag of money sitting in the bank and no other income.
They’d already started burning through the money when they went to see a financial advisor. He told them to put the money into managed investments and shares.
But it didn’t seem right to Desley.
She wanted to invest in something that she could actually touch – property.
While browsing on Facebook one day, Desley came across a post by I Love Real Estate.
She went to a seminar with her daughter, Nicole, and realised that she needed all of the help that she could get. So, she jumped onto the Ultimate seminar straight away and then completed Quantum in just 30 days.
It wasn’t long before she signed up to Platinum.
She got market-ready and started investing. Desley needed to buy properties with a reasonable amount of income already.
That would ensure she didn’t eat away too much of the money from the farm sale.
She started with a small set of storage sheds in Townsville. That had a $33,000 income on purchase, which is now closer to $40,000.
Best of all, she managed to negotiate the price down from $800,000 to $455,000!
It always helped to have a motivated seller. And in this case, the owners of the storage sheds wanted to get out.
The next property was a big leap.
Desley got an email from a friend about a $2.8 million property that he’d gotten the contract on. But he had trouble with the bank.
Desley stepped in with an offer of $2.325 and got it.
Again, she leveraged the seller’s situation to get a better deal. In this case, the seller wanted to get rid of because they were going through a divorce.
That shot their passive income up even further…
Desley now has two properties generating a passive income of $130,000.
Yes, that $2.35 million property generates an income of about $90,000 per year!
And they’re not even paying income tax on the income.
But more importantly, the family’s not dealing with so much stress anymore. They’re not waking up and just hoping that a crop will come through. They’re not having to pay attention to the weather to see if things will work out for them.
They have money coming in thanks to their investments.
So, what can you learn from Desley’s story?
Desley was in her 60s when she started her property investment journey.
This didn’t stop her though. In fact, she was able to leverage her superannuation to help with her investing.
That’s how she’s generating her passive income without having to pay income tax.
The point is that it’s never too late to get started with property investing. As long as you have the right advice, you can leverage your current position to invest.
One of the big mistakes that new property investors make is that they go for the first opportunity.
It’s easy to see why. You’re so eager to start your journey that everything looks like a good opportunity.
Thanks to her education with I Love Real Estate, Desley avoided falling into that trap. She worked with the team to do all of the research and paperwork for every deal that she considered.
And she eventually found the right investment for her.
Going through that process before you land your property is actually a good experience. It’s an education into what you need to have in place before you move forward.
Desley managed to get both of her properties for far less than the asking price.
Combined, she saved about $800,000 because she negotiated well. Part of that success came from the fact that she found motivated sellers.
If somebody really wants to sell, for whatever reason, you’re in a great position when negotiating. If you can offer a quick deal, they’re more likely to accept a much lower offer.
That’s what I Love Real Estate teaches people to make the first offer a softball.
You never know if the seller’s motivated enough to take it.
Desley started her property investment journey when she was already nearing retirement.
Now, she has a passive income that will provide for her and her family in the years to come. She overcame her own fear thanks to the education that she received.
You can do the same.
Don’t assume that your circumstances make it impossible to invest. With the right strategy, you can invest successfully, just as Desley did.