Val & Peter

Never too late to be a property millionaire. How Val and Peter secured their retirement.

Only a few years off retirement age, Val and Peter realised that there wasn’t much in the kitty, and they’d have to be working a lot longer than they wanted to. Thankfully, under the guidance of the Platinum Program, Val and Peter landed $1.3 million in profit in just two deals, and locked in the retirement they deserved.

Owning your own home doesn’t make you rich, as many older Australians know. Val and Peter got together later in life, each fortunate enough to own their own homes – properties they bought way back in the ‘80s.

However, beyond their principal place of residence, Val and Peter didn’t have a whole lot else. Val had spent most of her life caring for her daughter – a beautiful soul with down syndrome – and she had spent many years on Centrelink.

“My daughter has Down Syndrome and we were on Centrelink for many years. It really knocked my self-esteem around. But when I met Dymphna, she was just so easy to relate to. It made me think, ‘Maybe I can do this too’.”

After Peter turned 60, and with Val close behind, they took stock of their savings and super, and realised there just wasn’t all that much to go around.

They had worked hard all their lives. How were they going to fund the retirement they felt they deserved?

They knew that the equity they had built up in their homes was valuable – and something that could be used to invest and grow their wealth. However, they didn’t know just what they should do with it, and they were scared of losing the little that they had.

“We looked at our figures and thought, “Geez. We’re going to be working ‘til we drop!”

With this in mind they joined the ILRE community, coming first to the Ultimate Program, and then signing up for the close one-on-one mentoring available in the Platinum program.

This gave them a clear direction and strategy, and the resources they needed to execute “professional-level” deals.

These deals have been a game-changer. In just two joint-venture development deals, Val and Peter have secured $2.9 million in profit, and have turned their financial situation on its head.
Let’s take a closer look.

Deal 1: Hard Knoxville

Inspired and armed with the tools to do a feasibility study, Val and Peter had been watching a property in their neighbourhood of Knoxville that had been struggling to sell.

The vendors had put a price of $1.5 million on the property, and in six months, they hadn’t had so much as a nibble. Val and Peter knew the property had potential. At a huge 1,700 square metres, it clearly had scope for medium density development.

Partnering up with a builder they met through the ILRE community, Val and Peter put together joint venture development strategy and approached the owner, eventually talking them down to just $1.1 million.

This new purchase price opened up a lot of opportunities. Val and Peter will build six townhouses for $1.9 million, will sell four and hold two, for a total profit of $1.7 million, or $850,000 for each partner.

Suffice to say that Val and Peter were stoked.

“The total profit on this one is almost $1.7 million. It’s mind-blowing.”

Deal 2: Play it again, Sam

On the back of this success, Val and Peter went looking for a similar deal, this time becoming the money partner in a joint-venture with some dear friends they had made in the ILRE community.

They purchased a large property in the suburb of Wantirna, and the working-partner couple will live in the house while the development plans go through council.

Purchased for $755,000, they will build another four townhouses for a cost of $1.3 million. With an end value of $3.6 million, this deal will create $945,000 in profit.

How quickly things turn around

In a few short years, with the right training and support, Val and Peter have turned their retirement from a constant source of worry, into something they are positively looking forward to.

Not that they intend to rest on their laurels just yet. They’ve got a taste for development now, and there are still plenty of opportunities to be had.

“When we saw what was possible, we got a little over-excited. But being part of Platinum has kept our feet on the ground and given us a very clear strategy and way forward. We couldn’t have done it without Platinum.”

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.

“When we saw what was possible, we got a little over-excited. But being part of Platinum has kept our feet on the ground and given us a very clear strategy and way forward. We couldn’t have done it without Platinum.”

Results

PRE-DYMPHNA

Cooper Road PPR
Value: $850,000
Equity: $700,000

Mansfield Court PPR
2017 Value: $850,000
Equity: $630,000

Total
Value: $1,700,000
Equity: $1,330,000

 

POST-DYMPHNA

Cooper Road PPR 
Value: $663,310 (SOLD)
Uplift: $43,000 

Mansfield Court 
Value: $722,000 (SOLD)
Uplift: $2,500
Cashflow:$103,717 (4yr)

Apartment – G08 
Equity: $21,000 (SOLD)
Cashflow: $30,227 (over 2yrs)

Apartment – 108 
Equity: $31,000 (SOLD)
Cashflow: $30,227 (over 2yrs)

Apartment – 109 
Equity: $10,000 (SOLD)
Cashflow: $30,940 (2yrs)

Apartment – 101 
Equity: $35,000 (SOLD)

Apartment – 212 
Equity: $39,000 (SOLD)

Clyde St TAS
Value: $330,000
Equity: $72,000
Uplift: $7,000
Cashflow: $35,000 (over 2yrs)

David St
Value: $1,400,000 (JV)
Equity: $400,000 (JV)
Uplift: $7,000

Hibiscus St
Value: $980,000 (JV)
Equity: $225,000 (JV)
Uplift: $1,000 –

Totals 
Value: $2,710,000
Equity: $2,218,310
Uplift: $60,500
Cashflow: $307,899 (over 4yrs)