Neil and Anthea’s journey from struggling property owners to successful real estate developers and entrepreneurs is a story of resilience, learning, and transformation.
Their property investment story began over twenty years ago. Neil and Anthea enthusiastically invested in real estate and accumulated five properties, but they were all bought in their own names AND they were negatively geared.
Early Struggles and Setbacks
The properties were not generating positive cash flow, in fact they were costing them over $20,000 every year, leading to financial strain and a lack of personal freedom.
Despite owning valuable assets, they found themselves stuck in a cycle of working tirelessly without the ability to enjoy life’s pleasures, such as holidays.
Then their world was shaken by a series of unfortunate events, firstly, they were sued for personal injury to a visitor at one of their properties, which they found out that their type of insurance did not cover for uninvited guests.
Next they had a large repair bill when a tenant caused serious damage to another one of their properties. At this time, they thought they were about to lose everything they owned. It was extremely distressing.
This period, filled with stress and uncertainty, could have been the end of their real estate aspirations. However, Neil and Anthea chose to persevere, driven by their belief in real estate as a path to financial independence and a retirement free from reliance on pensions.
Turning Point and Growth
Their turning point came with joining I Love Real Estate in 2016 where they gained valuable education and insights into property investing for profit. Neil’s decision to enroll in the Platinum program for one-on-one coaching marked a significant leap in their real estate journey.
This mentorship allowed them to venture into property development using their existing rental properties.
One of their first major projects post-education was a land subdivision involving an old Queenslander on a large plot of land.
They successfully divided the 2000 square metre block into four lots, selling three and keeping one on which they built a brand-new Rooming House, which they then sold into their SMSF.
This venture not only generated significant profit but also proved the potential of their real estate knowledge. It taught them valuable lessons, which they applied to their next venture: a 2 into 4 subdivision which was the combination of 2 rental properties, that made up 2000sq metres.
They sold the front two lots as house and land packages, and the back 2 lots were sold into new trusts and those trusts built two new rooming houses.
This strategic move underscored their growing expertise in maximizing their assets.
The project was completed in just one year, a testament to their growing expertise and
Neil and Anthea didn’t stop there. A poignant moment in their journey was the conversion of their first home into a rooming house. This emotionally charged project was a testament to their commitment to their real estate goals, balancing personal sentiment with business acumen.
They transformed their old principal place of residence (PPR) into a five-bedroom rooming house, incorporating a 15-kilowatt solar system and a complete redesign for efficiency and sustainability.
In a symbolic gesture, they buried the old pool and fully landscaped the backyard, marking the end of one chapter and the beginning of another.
Achieving Financial Freedom and Sharing Wisdom
Today, their portfolio of developed properties provides a robust foundation for their livelihood.
Neil and Anthea’s rooming houses generate significant income, with the first bringing in $1,760 per week, and the others $1,940, $1,980, and $1,970 per week respectively. Together they generate a total gross income of $397,800 per year!
After loan repayments and other expenses this amounts to $71,995 in net annual income. This financial success has allowed Anthea to retire, while Neil looks forward to expanding their ventures through joint partnerships.
Their story is not just about financial gains but about the power of education, determination, and the willingness to adapt and learn.
They hope to inspire others in the I Love Real Estate community, proving that with the right mindset and resources, remarkable success is achievable.
Neil and Anthea’s advice to others is to seize opportunities, embrace learning, and actively engage in community and networking.
Their journey from financial hardship to prosperity and freedom is an inspiring tale of how education, strategic thinking, and perseverance can lead to a life of fulfillment and success in real estate.
“Seize opportunities, embrace learning, actively engage in the community and network, network, network. Get uncomfortable and talk to people, you never know who you’re going to meet.”
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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.