G’day to all, our names are Donna and Troy Mawson and we have always been passionate about property. We have had some success stories and we’ve lost large sums of money as well. When we lost money we asked ourselves what went wrong and we believe we had not invested in ourselves and our education.
So we attended several different property seminars and we took something out of each one. Donna came across Mark Rolton’s one day preview and thought that she should attend to see if she could learn something new. Coming away from that day, Donna decided to book the 3 day Property Options course straight away, without even consulting me. So I thought here we go again, I’ve seen most of these guys and what could Mark (Massland) show me that the other guys have not!
Step 1: Getting Started
Let me tell you after that 3 day course, we knew we were onto something with Mark’s knowledge of real estate! What Mark was teaching was something completely new to us! Strategies that we have never considered and it all made sense, not complicated but simple- just follow his formulas and success is there.
What I most liked about Mark was that his knowledge was unbelievable! Not once did he not have an answer to a question! Not once did Mark have to stop and think about what he had just been asked. He knew the answer for every question – to me this was power. What I had come to realise was this guy has done it all! Been in all different situations and has come out the other side learning from his experience! The hard road! And he was very genuine. This appealed to us.
After the 3 day seminar we joined Conclave. Conclave is a more detailed step by step learning of how to build your own projects and become a developer. Conclave has opened our eyes even further and made us realize we could achieve results we thought weren’t possible, in a short time frame. We came away from Marks Conclave program realizing we did not need a huge amount of dollars to still make money out of real estate.
Step 2: Find the Deal
Now Marks first rule is to know your market. We live in Sydney and have been passionate about property for years – so it made perfect sense that all our deals would be in our local area. You might say these projects are on the higher side, but we know what houses are worth in our market areas. Therefore the risk to us is not even a consideration as we have calculated all the risk and know our comparables really solidly.
Step 3: Choosing the Right Strategy
The thing we loved most about Mark was the huge variety of property strategies he teaches – not just Options. So we have used a combination of different strategies in our property deals.
We’ve taken everything we’ve learnt in the past two years and put it into action. Some of the deals we have put together are below:
Deal 1: Subpide, Develop, Relocate and Develop Again!
I know it sounds strange, but we pided a block, built a house out the back, relocated the old front house and built a new duplex out the front!
We learnt from Mark how to split large blocks into two and profit from two separate sites. So we found a large block of 1350 m2 for $640,000 and left the house at the front and created a new vacant block at the back. This cost us around $140,000 and we could just sell it off the vacant land for $530,000 and walk away and be finished. We decided to maximise our profit by building a project home out the back which will increase its value even more. It will probably cost about $280,000 to build a project home and we’ll sell it then for $950,000 which is very achievable – which is $530,000 profit to us!
One thing Mark taught us was to maximise the site – what is the highest and best use. With this in mind and because we have done Conclave, we decided to develop the block out the front too. The council will allow a duplex or semi to be built on the front block. We will relocate the old house at the front onto a rural block which again will maximise our return and will leave the front vacant to begin construction on the duplex.
This whole combination of strategies came about from listening to Mark and applying his ideas of maximising the site and adding massive value using a variety of property strategies. Why just use one strategy when a combination of strategies will make you heaps more money – it just made sense to us.
- Cost of Project House: $280,000
- Total Costs: $420,000
- Sell Price of Back Block: $950,000
The profit on the front duplex is yet to be realised, but we’ll keep you informed on this one – it should be a cracker!
Deal 2: Renovation
We found a run down old one bedroom terrace and knew we could add massive value with a renovation and increase the sale price by adding another bedroom. We renovated it into a two bedroom townhouse and sold it just 12 months later.
- Purchase price: $450,000
- Renovation Costs: $110,000
- Total Costs: $560,000
- Sell Price: $700,000
Step 4: Know the Numbers
We know the area we are working in extremely well. We know the cost of vacant land and house prices and what renovated houses are selling for in the market place today.
By combining our knowledge with Mark’s experience we have really made the most money possible on our properties – just by thinking outside the square a little. The two deals above have made us $670,000. We have put together another couple of deals as well in the past two years and conservatively we have made just over a million dollars in cash and equity. It has taken a lot of hard work but more importantly the know how to do it right.
I hope that the above gives all you guys out there inspiration to go out and start your journey in the real estate game. We know if you follow Mark Rolton’s strategies, regardless if you have very little money you will finish well in front. I cannot speak highly enough of Mark and the Massland team.
And to the Massland group, we thank you for us being able to pick up a phone and have the answers to questions when we get stuck. Your help is unmeasurable.