Questions
a
1300 658 653
1300 658 653
I purchased my first distressed property in my early 20s.
At the time I had no idea what I was doing. I just happened to be in the right place at the right time, and the deal of the decade fell in my lap.
When I was ready to invest in a second property, I naturally wanted to find another great discounted property deal.
Of course sellers don’t advertise their properties as “distressed” or “below market.”
And the few “deceased estate,” “divorce,” or “mortgagee” sales I found were already out there, and every Tom, Dick and Harry was buzzing around them in a lather and bumping up the price rather than offering me any discount.
I also discovered that there is no education curriculum to teach you the ropes on how to locate, buy and, sell distressed properties in Australia.
So drawing on my legal expertise, as a lawyer specialising in debt, I developed a repeatable 3 step process for investing in distressed properties in Australia.
Purchase Price: Takeover Deal
Price Listed For: Not applicable
Profit: $113 000
Property Found: Approached by Owners
Circumstances for Sale: Distressed Property
Strategy: Flip
Purchase Price: Takeover Deal
Price Listed For: Not Applicable
Profit: $80,000
Property Found: Court List
Circumstances for Sale: Distressed Property
Strategy: Flip
Purchase Price: $169,000
Price Listed For: $247,000
Profit: $43,000
Property Found: Through Relationship with Local Real Estate Agent
Circumstances for Sale: Deceased Estate
Strategy: Flip
Purchase Price – Takeover deal ( No Money Required)
Price listed for – Not Applicable
Profit – $100,000
Property found – Referral from DG Institute community
Circumstances for sell – Distressed
Strategy – Flip
Purchase Price – $525,000
Price listed for – RP Data: $650,000 medium confidence
Discount – $125,000(19%)
Profit – $87,000
Property found – On market
Strategy – Flip
Purchase Price – $1,080,000
Price listed for – $1,100,000 to $1,200,000
Discount – $100,000 estimate
Profit – $500,000
Property found – on market
Circumstances for sell – Vendor selling investment property with DA
Strategy – Develop into triplex and sell
Purchase Price – $675,000
Price listed for – $750,000
Discount – $75,000 (10%)
Property found – Open for inspection
Circumstances for sell – on market deceased estate
Strategy -Flip
Purchase Price – $650,000
Price listed for – Auction(RP Data value $723-$750K)
Discount – $75,000 (11%)
Property found- Open for inspections
Circumstances for sell – on market deceased estate
Strategy – buy and hold – cash flow
Purchase Price – $350,000
Price listed for – $420,000 bank owned
Discount – $70,000 (16.6%)
Property found – Court list
Circumstances for sell – mortgage
Strategy – renovate and flip
“We’ve been with Dominique for two years, and for the last two years, we’re actually up to our sixth property, buying, renovating, and selling. Just on the renovations themselves, we’ve made probably near close to $300,000. I think on my first deal last year, I made my whole teaching salary for a year. So that was pretty exciting. It’s definitely stimulating and saying, Let’s get on board” –
“I’ve just arranged a takeover to do my first deal on my own, so this one is a lot bigger. It’s a $1.72 million dollar home in Sydney. If you need a push, and it’s something you want to do but you think whatever the reason is, you don’t know what to do. You’re scared, it’s risky, there’s lots of unknowns, the mentoring is for people like that. They know what they want, but they’re just scared of going for it themselves, so yeah, definitely people like me, may need that little push now and again” –
“I needed access to a coach that could shortcut me from A to Z without having to reinvent the wheel. I have bought one property in the form of a mortgagee in position. I made a net profit of $97k in 3 months.” –
