Mat Hope

Highway Palm Beach, QLD

Background

Matt Hope is a Property Uplift Program Elite Mentoring Graduate and also a Real Estate Rescue Elite Mentoring Graduate, he has purchased a beachfront property in Highway Palm Beach, Queensland with an estimated discount of 100k. His strategy will be developing the lot into a triplex and selling with the aim of starting development end of 2020 to spring 2021.

  • Anticipated resale from agents (1.2m per unit)
  • Seller Agent commission at 1% with sliding scale above minimum resale value
  • Estimated Total Profit (1,200,000 x 3 = 3,600,000)

The Number

These cost include estimated cost of development and estimated profits.

Expenses Cost
Purchase price $1,080,000
Remaining development estimated $1,600,000
1% Agent commission $36,000
Total Expense $2,716,000
Total Net Profit $884,000

Top 3 Learnings from this deal:

  • Need to do it for the right reasons-money shouldn’t be a reason
  • Be fearful, don’t be scared
  • Get a mentor

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