My name is James and I’ve been a builder for many years. I came across Mark Rolton and the Property Options and thought it would be a great opportunity for me to make more money for myself and my family from this industry. Mark’s program has helped me build the bridges to where I want to go financially.
I attended the three day live workshop and left ready to begin. I had meetings with different Ultimate Buyers to find out what type of sites they were looking for and where. That gave me my menu and I started looking.
I found a site in SA that would be suitable for townhouses. I have optioned the site and can fit 6 double storey townhouses on it. The original house on the block will remain and the 6 townhouses will be built on the remaining land. There is a creek on the property and after meeting with council we are not able to use the entire site. However the council was very helpful with the planning and are supportive on developing the area.
I have completed my figures on 6 new 2 story townhouses whilst leaving the existing house as it is. I will look to have the site surveyed in the hope that I can potentially squeeze 2 more townhouses on the site, but I have worked out my feasibility with 6 townhouses and the deal is still profitable to myself and the owner.
Step 1: Getting Started
I attended the Property Options 3 Day weekend with Mark Rolton and learnt the comprehensive content. I signed up to RPData and carefully studied the local council town plan and started looking for large townhouse sites close to infrastructure.
Step 2: Find the Deal
I found quite a few properties that fit my criteria and sent them all letters and had meetings with some owners. I decided on the best site and signed a Heads of Agreement with the owner. The site was large 3443m2! Which meant it could potentially fit between 6 – 8 townhouses on it.
Step 3: Choosing the Right Strategy – Short Options
I am open to this deal being either a Short Option – selling it to a Developer without a Development Approval or a Long Option – with a Development Approval. Either scenario is profitable to me. If a Developer (Ultimate Buyer) wants to take the site off my hands for the right price, then a Short Option it is! As Mark says, ‘You Never go Broke making a Profit’. I will happily cash out of the deal and take my profit onto my next deal or a holiday with the family!
Step 4: Know the Numbers
At the three day workshop Mark taught us how to do a feasibility and I have been doing construction estimates all my career, so it didn’t take my long to realise this deal would work. I did two feasibilities one with 6 townhouses and one with 8 townhouses – both were profitable. I know from my years in the construction industry that it is important to know my numbers solidly and I was thrilled the deal stacked up.
- Option Price: $425,000
- On Sell to Developer: $655,000
- Profit: $230,000
I am very happy with the result of my first deal using Property Options. The support from Massland has been fantastic and I’ve enjoyed being able to share Mark’s experience and blend that with my own. I know that from now on, I will make more money from this industry than I ever have before.