Peter found himself juggling two jobs six days a week, while Fiona worked in their retail business three days a week. Additionally, she had to handle the accounts for their finance broker business and properties.
Little did the couple know that all that hustling would take a toll on Fiona’s health. She soon found herself dealing with multiple sclerosis.
But that’s not the only problem.
Despite having their own broker business, Peter and Fiona still struggled to profit from their properties. While they only had two investment properties at that time, both were incurring losses.
What’s worse is that the couple took out loans for the purchase of the two properties – and they bought it from the wrong entities.
At that point, they were unable to derive any profits from its lease or possible sale.
But in 2019, Peter and Fiona finally decided to take the first steps in reversing their misfortune. And they did it by joining ILRE.
I Love Real Estate was an eye-opener for them. Their Coach was frank but supportive. And she gave them the advice they needed to get their acts together.
More importantly, she gave them the blueprint for having a successful property investment.
Their Coach advised Peter and Fiona to reflect on their past investment decisions. With her help, the couple gained clarity on their goal, which is to have a comfortable retirement.
Through their sessions, Fiona also learned to accept that what her body needs the most right now is to start healing itself. And to do that, she had to step back from all that hustling that she’d been doing.
The I Love Real Estate education opened Peter’s and Fiona’s eyes to real estate and to take it seriously as a business. Narelle also showed the couple the many opportunities available to property investors like them.
As a result, Peter and Fiona decided to sell their two investment properties. They realised that since it was unprofitable, the best solution was to cut their losses by selling those properties.
For their first venture, Peter and Fiona purchased and subdivided a property. The couple spent a total of $808,715 for the purchase of the property and its renovation. In particular, they bought the property for $608,970, while the renovation cost them $199,745.
Despite the high cost, the renovation paid off as both the land and house values increased.
The couple would be able to sell the house and property for $876,523 and make a profit of $67,808. That meant an 8.4% return on investment in just 12 months.
Following their successful first deal, Peter and Fiona embarked on a series of renovations and subdivisions of other properties.
For their second deal, they subdivided their PPR. It only cost them a total of $50,000 for the subdivision of their PPR, but they were able to raise the value of the property and sell it for $680,000. This meant they got a $630,000 profit!
Their third deal was another renovation and subdivision on a property they bought. The total cost for the purchase of the property, renovation, and other related costs is $792,336. But instead of selling, the couple decided to turn the property into an Airbnb with a rate of $2,524. They are able to make an annual income of $42,834 from it – a $25,857 annual profit.
For their fourth deal, Peter and Fiona entered a joint venture (JV) to develop a particular land. From 2020-2021, they purchased a total of 17.5 acres of land. They then filed for the subdivision of the property into 131 lots. The Council approved the subdivision plan in June 2022, and the sale of the lots was divided into two stages.
In the first stage, the lots went on sale in November 2022 and are projected to earn them $1.5 million when the titles get released in March 2023. For the second stage, the remaining lots are scheduled to go on sale in March 2023. The titles are set to be released in December 2023 and they expect to get a total of $1.95 million.
Peter and Fiona’s projected revenue from both stages of the lot sale is $2.8 million or a 430% ROI.
For their next JV, the couple secured a property that involved the SMSF. With an initial investment of $200,000 in 2019, they are expected to earn a return of $370,000.
And in March 2022, they entered another JV – this time for the development of 10 acres of land. Over the next two years, they’ll be investing $420,000 in the project, which is currently undergoing re-zoning. This is expected to raise the value of the property in the following years and by 2027, their profit is expected to be around $680,000.
This amounts to an ROI of 162% or an annual ROI of 32.4% per annum.
It was in Platinum where they got introduced to a student who agreed to a JV for a large regional development project.
The couple had some fears about starting this new venture since it required them to invest $200,000 over the next 2.5 years. But with the knowledge they acquired in Platinum, they were convinced that it was a deal worth pursuing. As such, they were able to navigate the process smoothly with their JV partner and are expected to earn a $50,000 profit from the project.
For their latest deal, Peter and Fiona invested in another Airbnb. The couple took out a loan of $650,000 to finance the construction of the one-storey structure. Upon completion, the property is expected to be worth $1.2 million and generate an annual income of $150,000. This is enough to offset the interest of $45,500 and other related costs, which means the couple can make a $65,500 annual profit.
Since starting their ILRE journey, the best word to describe the program’s impact on Peter and Fiona and their children is this:
After all, they were able to support their children when they became property investors who are finally armed with the right knowledge. And this helped them guide their children in making property investments of their own.
In fact, their son and his fiance are now building their first house that’ll also serve as their PPR. The house is now at its framing stage and is due to be finished in March 2023.
Meanwhile, their daughter bought her own property and, with their guidance, she developed and sold the property to earn a profit of $350,000. This successful experience inspired her to purchase another townhouse and rent it out for $740 per week.
Besides helping their children, the couple is now capable of sharing their resources with other people.
In fact, they recently made a $45,000 donation to the Children’s Rehabilitation Centre in Regional Victoria. They also helped others they met build 3 decks and assisted them in landscaping projects.
A surprising benefit of the ILRE education is that it helped Fiona become healthier.
With the help and support of the community, she was able to lose 22 kg in 2022 and recover from her multiple sclerosis. Her recovery even drew admiration from her doctor, to the point that she’s often used as a model for their patients with a similar diagnosis.
Most importantly… They learned to enjoy life again.
Fiona has become more self-confident and occasionally volunteers to style her friends’ and family’s houses. As for Peter, he’s less stressed since he now only works three days a week. And he’s even planning to retire in the second quarter of 2023.
They finally have time to do the things they want.
The couple is planning to travel around the country in their caravan, as well as visit other countries for their vacation. And since Peter has bought a boat, they’re looking forward to fishing in their free time.
Their life now is a far cry from what it was like prior to joining ILRE.
And they are loving it.
“The step-by-step ILRE system, the coaching, the community and the encouragement… It blows my mind.”
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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.
“We were able give back to the community and donate $45,000 to the new Children’s Rehab Centre in Geelong from the profits we made.”
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Cashflow: -$25,000 (negative)
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