A 55 Year old man with next to no savings when he met Sam.
Decent income but barely enough deposit for a first deal.
Believes Sam has changed his life with what they have built together heading into retirement.
Was very worried heading into retirement he wouldn’t have enough to have any sort of a decent retirement.
Within 24 months had 3 deals under his belt, cash flow to the tune of $24k per annum positive, and is halfway into his accumulation of 3 bread and butters with 3 x cash flow deals to build his $80k – $100k passive income by retirement age in 7 years.
- Ended up buying first deal in SMSF for $303k in 2020
- Valued $510k in September 2022
- $207k equity gain in 24 month period
- Bought at the absolute bottom of the Brisbane market
- $287,500 purchase price off market
- Worth at the time circa $330k+ or $43k+ minimum equity gain
- Granny flat at $144k
- Valued post build at $700k
- Sitting in the green roughly $200k (not exact numbers)
- Rents are combined $780 per week or 8.8% yield in a strong growth location with vacancy rate of 0.6%!!
- Didn’t want to buy in the WA market
- Only went there after Sam’s strong push towards that direction and trusting his judgement as had paid off in the previous 12-18 months
- Paid $340k off market March 2022
- Worth circa $400k Oct 2022
- Rents for $440 per week so strong yield