After her divorce, Kristi found herself terrified of starting again. How would she find a way to support her family? However, with close coaching support, she smashed through her fears and landed $130,000 of passive income in a single deal. This is how she did it.
Kristi had been a dedicated full-time mum, but when her marriage ended, she found herself alone with two teens, over-indebted, overworked and wondering how on earth she would find a way to pay off a $300,000 mortgage.
Kristi exited the marriage with a modest amount of cash, shares and super, but she was totally overwhelmed by the idea of being the only person responsible for her family’s future. She had all these inherited ideas – societal norms – about how you should make money, but none of them were inspiring or seemed to hold much promise.
The reality struck home. Kristi suddenly realised that having all her money tied up in the family home was never going to afford her the income or lifestyle she desired. On her end, she had a strong work ethic and a steady job, but she was burnt out from working long hours for just $65K per annum. She was a single mum with limited prospects and all alone.
“I thought what am I going to do? I no longer have a partner to back me up.”
In order to increase her income, Kristi felt the only way forward would be to sell her house and start renting to free up some funds she could then invest in Real Estate.
Kristi attended Dymphna Boholt’s conference a year before her house sold, and joined Platinum – a close one-on-one coaching program – just as the house settled.
Busting through her inherited beliefs that you need to work hard and do what’s expected of you, Kristi started playing her own game of life.
“All of a sudden you’re out there and you think, ‘It’s just me. I’ve only got myself to rely on.”
Deal 1 – Sheds full of doubts
Kristi had done residential property investment before but working closely with her Platinum Coach, she decided to go after commercial property because of the income potential.
Being Perth-based did not deter Kristi from scouring the internet for sites nationwide. Some storage sheds in Maryborough, QLD popped up and they seemed like a deal with potential.
But then Covid threw Kristi a curveball. She wouldn’t be able to travel, and she would need to purchase site unseen. This kind of deal is usually deemed super risky.
The deeper she got into the detail, the more challenges she found. To begin with, the sheds had no power, had limited accessibility, lacked vital tenant contract details, and on top of it all, the IT systems were absolutely archaic. A substantial number of the sheds were also vacant.
Kristi remembers how she was trying to find issues at every turn because she was trying to sabotage the deal. She was scared and wanted to protect herself. Mel called her on it and asked her to confront her fears and meet them with facts.
As it was, the tenancy agreements were a little quirky, but workable. With Mel’s coaching she was able to work through all of her concerns and mitigate the risks. The deal started coming together and Kristi decided to take the plunge.
There are 78 sheds on site and a small accompanying cottage. The cottage tenant takes care of general property maintenance and this in turn frees Kristi up even more to do the things she loves most.
The storage sheds are now 100% managed from Perth and 100% occupied.
“My Platinum coach really, REALLY got me over the line.”
But wait, there’s more
The site also holds potential for an additional 30 sheds due to 700 square metres of vacant land.
She has plans to make these sheds happen, because she has seen how much interest she can generate in renting them out.
“I used to worry about getting enough tenants in, but now I get so many calls I don’t even answer the phone!”
Kristi says “My answer phone message says ‘the sheds are 100% full. If you are interested in going on a wait list please leave a message’.”
What an absolute winner the storage sheds turned out to be! Personal breakthroughs and savvy systems skills have enabled a turnover increase of 45 percent. Kristi’s passive income skyrocketed to $130,000 p.a, having put just $100,000 of her own money into the deal. That’s twice her annual salary!
What’s more, out of the equity gain she created by increasing the rent she was able to bankroll her second deal.
Deal 2 – A tasty $228,000 uplift
Being based in Perth, Kristi had never heard of Maryborough in Queensland, nor had she ever been to Taree. This mattered precious little however when she spied a tantalising duplex opportunity in NSW.
Embodying her newfound confidence, and harnessing existing new-build skills, Kristi purchased the land for just $205,000 in this fast-developing location and teamed up with a developer.
Site works are currently in progress. The existing strategy is to complete the build and hold. Holding the properties would afford a yearly cash flow increase of nearly $20,000. However, if Kristi decides to sell, she will be $228,000 better off.
The ability to choose her own adventure from here only reinforces her sense of agency. Kristi can sell both, hold both, or sell one and hold one.
What would you do?
“My coach showed me that I was sabotaging myself. I had to choose to change.”
Sweeping out self doubt
Dymphna believes that cultivating a belief in yourself and breaking through pain points is always part of the process. Financial freedom goes hand in hand with personal freedom.
Platinum coaching provided a buttress of support in those crucial early stages so Kristi could stride with confidence towards her own unique goals.
She felt supported and able to talk things through with someone who really knew their stuff. This enabled Kristi to readily separate the hard facts from her fictional and defeating self-talk.
Though many fears had a spotlight shone on them along the way, Kristi managed, with the support of Mel and Dymphna’s community, to move through each one.
And now the results speak for themselves.
Feeling free, feels amazing
It is absolutely priceless not having to work. Kristi feels remarkably less stressed, and she has been able to take whatever time she needed to support her daughter through a period of poor health. Quality time with her granddaughter has been a special bonus too.
Friends and family are astounded by what Kristi has been able to achieve in such a short time and are also now asking how they too can see what opportunities await them.
A wealth of knowledge
Single parents often find themselves shouldering a heavy financial burden following separation and divorce. Dymphna’s community provides financial literacy for property investing as well as a diverse and extensive community willing to support you exactly where you are at.
Inspired and now empowered to make really clever choices, Kristi is living on easy street with plenty of time for friends and family.
The future forecast looks sunny and bright.
“Who wants to work 80 hour weeks for $65,000 a year when you can generate a passive income of almost $150,000!”
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.