For Donna, Troy, the past year has been an incredible experience being involved in Project One with Mark Rolton.
The process involved Mark mentoring these two property entrepreneurs for one year with the goal of achieving one million dollars in that time. Over the course of the 12 months each of these couples have achieved an enormous amount of equity and profit in their real estate endeavours. They tackled everything from Splitters, to constructing new houses, creating subdivisions and building developments.
Donna and Troy focussed their attention in NSW and began with a fabulous Splitter in Kirawee. They began with a large block that they split into two. They renovated the old front house and built a brand new home on the back block. They sold the new house and rolled their profit into an approval for a duplex on the front block. While the council has been slow to approve the front development they are confident in obtaining their approval and will begin construction in 2013. This final piece of the puzzle will utilise their original block to its maximum capacity and realise its greatest profit. Troy and Donna estimate the final profit on this deal will be $550,000.
But that project was just not enough for this dynamic couple and they turned their attention to the Hunter Valley and had subdivision in their sights. They discovered a fantastic block of 2700m2 and just like true entrepreneurs, started to dream on the best way to maximise this block. Donna began thinking that a 4 block subdivision was the way to go, leaving the original house where it was and dividing the rest of the blocks to sell off. Ever the thinker, she has decided to be the developer herself. Donna and Troy are now splitting the block into two halves – on one side they will divide into three blocks, renovating the original home and moving a relocatable onto another block. All three blocks will be sold¸ which cleverly will pay for all the costs of subdivision, renovation and relocation – meaning that have acquired the second half of the block for free. On the second half of the original block they are constructing 6 townhouses – talk about utilising the block to its maximum potential! The final profit on their 6 townhouses is a whopping $650,000. They are thrilled to be taking on the role of developer and project managing the building the townhouses themselves. Project One has certainly been an extremely rewarding, knowledgeable and profitable experience for Donna and Troy.
Donna and Troy’s Wrap Up….
What Project One has shown to all investors – is the capacity to generate One million dollars in One year. With the right education, drive, determination and the correct support network, anything is possible and the sky is the limit. Whether it be developing townhouses or subdividing blocks, any investor can create this incredible result just like Donna and Troy. It’s the willingness to take action and the knowledge of which strategy to use to maximize each site to its most profitable potential, which separates the successful from the mediocre.
Congratulations Donna and Troy for a truly incredible year. Not only did you make amazing profits for yourself but you were inspirational and showed the way forward for many more to follow in your footsteps.