This is a small selection of the many thousands of Testimonials, Letters of Praise and Case histories we have received over 25+ years of Peter Spann’s presenting career.  They are not only inspirational but will give you an indication of the type of strategies you will learn in the Property Pay Day on line seminar and how you would put them to use in building your wealth…

“These property strategies are mind blowing… I am indebted to you and will be for the rest of my successful life.”

P. MacFarlane

“I bought a house for $50,000 less than the agent expected it to sell for using your auction techniques. All the other bidders were blown out of the water – they didn’t put up their hands again!” 

J. Adams

“It was like an answer to a prayer – a dream come true.  I had been told for several years that, even though I had a large asset base, because I had no income I could not get a loan.  You have opened the way to financial freedom for me by showing me how.”

R. Antoniou

“I came to find out how to become a Millionaire and you delivered!  I applied your teachings and built a $1,200,000.00 property portfolio with 65% LVR.  These wealth creation strategies you have shown me are amazing.”

R. Koenig

“I found out the townhouse I bought for $375K is now worth $500K – that’s $125,000 in equity profit!  And now I know what to do with the surplus – what a wonderful world!”

R. Outhrod

“These strategies are understandable, tailored to the equity position of my properties, and offer me the opportunity to achieve complete independence and financial freedom.  Thank you for working so selflessly for my good and the good of all attendees.”

T. Hall

“I realised I could safely unlock the equity in my house and buy at least 3 investment properties of $500K each. Fantastic.”

V. Erdos

“I was amazed when my finance people told me I could get what I wanted to fund my first investment property – these strategies really work.”

J. Gilles

I bought a 4 bedroom post war home in Oxley, Qld in November 2000 for $148,500.  We live in that house and have spent about $30,000 on renovations – but the property is now valued at around $275,000 – so I am very happy with the equity I have developed in it.

My partner and I have both purchased units in Auchenflower – in the same block.  The block is about 40 years old and not much from the outside, but it has large bedrooms, is close to the railway station and to Milton Rd (without the noise) and is only 3km from the city.  We each paid $125,000 and get $190 per week rent.  On an interest only loan the repayments are only $660 per month, rates are around $1300 a year, so it is completely cash flow positive.  This is brilliant for me as I am about to have my first child and will not have an income for some time.  I don’t know that I am going to get a huge amount of capital growth quickly on the property, but Auchenflower is a good area, so I’m never going to lose.

Janet, Oxley, QLDCASH FLOW POSITIVE

We were looking at and negotiating on two properties – we were getting nowhere on price.

We went back 25% lower – real estate agent said don’t insult my client – we said make the offer – next day real estate agent called back – her client was very angry with us.

We said ok, withdraw offer – said world looks bad, took another 5% off – said you have 24 hours then we withdraw and won’t be back – there are lots of cheap properties around.

Next day real estate agent calls – her client is highly insulted and furious but only as a favour to the real estate agent, so she can earn her commission will he accept. We said ok but now want 3 months settlement – they said ok and the deal was done.

The properties have been revalued – plus 30%

Martin, NSW NEGOTIATING

I have bought three investment properties so far this year.

I have lived in Lane Cove for many years and decided to look and probably buy there first. I wanted to buy a unit at or under the median price which at the beginning of the year was $340,000.  I looked for many weeks each Saturday and sometimes through the week for a 2 bedroom apartment/unit in apparent good construction which would probably need a refurbishment.

Most such units were in the price range of $320,000 to $420,000. I looked at about 25 and started to get a reasonable idea of comparative value. I felt I needed to look at more than that but was becoming tired of waiting and wanted to ‘get into the market’ somehow. It had been three or four months since I first attended your first course on real estate and I wanted to get going.

One Saturday morning I came across a unit in a block of six only one or two minutes walk from the shopping village. The block was about 30 years old and the unit was at the top at the back and had a great outlook onto tall trees. It needed refurbishment and had been rented for $250 per week and was presently vacant. The asking price was $350,000 and seemed like quite good value compared to other units I had looked at. I nevertheless hesitated and someone else bought it for $345,000 within days.

Over the next month or so I looked at more 2 bedroom units in Lane Cove and attended a number of auctions. Most of the units were about 30 years old and were in the 70 to 90 square metre sizes. One of the auctions I attended on a unit in a block once again very close to the shopping centre, had four lots of people bidding furiously against each other. The agents were beside themselves with delight when the price finally settled at $421,000, some $80,000 over the median price! Another one had three bidders furiously outdoing each other until it sold to one of them for $481,000!! Extraordinary I thought.

So another Saturday morning in early May I was looking through the Sydney Morning Herald and noticed a unit in the same block in Lane Cove as the one I missed out on in February for $350,000. I drove to the site just as the first opening occurred to find a stream of people inspecting. It was in the same condition as the other one, needing a refurbishment of the kitchen and bathroom and the price was $340,000. This was right on the median price of a few months previous.

At this stage two other people were letting the agent know they would like a copy of the contract. I quietly said to him after they had left that I would take it for the asking price and settle with cash in 28 days. He agreed to put this to the owner and came back to me the same afternoon with an acceptance.  The property was already tenanted for $265 per week. I decided to keep the tenants on the same rent for a few months as the market had gone very ‘soft’ for yield. I felt if I waited 6 to 12 months and then did a refurbishment I would then be able to more certainly gain a better rental return.

Our second property we purchased over dinner. Our friend’s husband was a real estate agent and he mentioned that a property was coming on the market and was to be auctioned in 6 weeks time. The board was being placed on it the next day. We had a quick look from the outside and liked the position, just 100 meters of the Altona beach. We made an unconditional offer to the owner (we knew our financial position before hand). It was take it or leave it – he took it.

What we did not know was that the tenants did not pay rent and being “friends” he could not bring himself to evict them. When we took over the property we paid landlords insurance. First few weeks they paid rent ok, then the excuses stared to come in and the rent fell behind. When they were 2 months behind we got an eviction notice. We made a claim on the insurance company. Three weeks later the tenants sent the cheque for the outstanding rent.

We spend 4 weeks in cleaning up, repainting repairing and changing the carpets for a total of $4800 not including our time.

The property is currently rented at $230 per week a return on investment of 7.9% plus capital growth.

This property has been valued six years later at $450 000.

We have since invested in other property but now we take care where we buy. We also buy when the property is slightly positively geared.

Dusan, VIC

Dushan, VicThree in a Year

One thing we have learnt buying investment property which may seem obvious is to get us much information from the agent as to why the vendor is selling the property.  Usually their responses are fairly standard but now and then you get more information than you bargained for as was the case on our latest purchase.

We were looking at a property in Chelsea, 200 metres from the beach and close to the train station and shops.  It was advertised at $279000 which considering that a townhouse could be built behind the existing house wasn’t bad value.  New townhouses there were fetching between $320000-$350000.  Asking the agent why the vendor was selling especially since the house had just been renovated inside the agent replied that the vendor was going through a divorce, had already purchased another property and naturally was in financial difficulty.  Suffice to say we did not end up paying the advertised price and our first offer of $250000 was accepted.

John & Fiona of Warrandyte, VIC

John & Fiona of Warrandyte, VICASK THE AGENT WHY VENDOR IS SELLING

We didn’t have enough for a deposit so we chipped in with my brother and his wife to buy a classic Balmain dump between the four of us for $277,000.

We were young and enthusiastic and spent a year putting on a second story.  We had a bedroom per couple, we had the fridge and a telly in ours and my brother had the microwave in theirs, talk about cosy living!!

We were using the original outdoor toilet, and rented a green plastic shower for the back garden.  Our friends and neighbours thought we were mad.  Taking a torch out the garden in the winter to have a shower, while negotiating your way over trenches, carrying a bucket of water to flush the toilet!

However it all payed off as we sold a year and a half later for $565,000.  The renovations cost $50,000.  We split our profit, and payed for a great wedding in a castle in Scotland (we thought of it before Madonna!).

Grant and I then went on to buy a place of our own, and had a baby which slowed us down a bit.

We bought another Balmain terrace but by then we had attended our first seminar, and realised we didn’t have to do as much work, so we went for the spruce up.  Bought it for $419,000, spent $20,000 on renovations sold it two years later for $555,000.  The midwife gave a strange look when she came to visit our new baby and the back of the house was basically a tarpaulin.

Gayle & Craig, Balmain, NSW

Gayle & Craig, Balmain, NSWRENOVATION STORY

I came to your seminar with one property in hand being in Bondi Beach and almost paid off after a few years of killing myself.

After learning that some debt is good I bought a second investment unit in Bondi Junction; one bedroom $185,000 a real dump.

I was going to renovate and the tenants who were paying $200/week begged me to stay and offered me $230week and they cleaned it up for me. Nine months later that property is worth $270,000. Not bad for signing a piece of paper!!

I then used the equity in the first property to purchase a two bedroom in Marrickville for $230,000 which I rent out for $210/week and it needed no work and the tenants signed a one year lease for a $10/week discount. I guesstimate that this property is now worth $280,000 only four months later.

I am going to receive a $4000 tax refund thanks to the strategies used and next month I plan to purchase a unit in Queensland.  My friends laughed at me for spending $2,000 on seminars but so far thanks to him my net worth has increased by $135,000 in a year. Who’s laughing now?

Simon, NSW

Simon, NSWTAX REFUND

I attended your seminar in Melbourne.

I had by that time already acquired a couple of investment properties but felt unsure about how to progressing things from there, and was concerned about what may happen to the residential property market given that the scare mongers were already talking doom and gloom at that time.

Naturally, after the seminar I was entirely pumped and on the prowl for further investments.

Two days afterwards, my father rang me from his mobile as he walked past a group of two bedroom units in Mornington, Victoria. All six units were for sale, strata titled and fully let. The position was close to the beach, the main shopping centre, and in a street with a number of new houses and new unit developments.

The units were constructed in 1981 and had not really had any meaningful renovation done since construction. Although looking a bit tired, they were structurally strong. They were clustered as 3 blocks of 2 units, and each unit has a carport that can later be easily built in as garages.

My initial reaction after a “drive-by” inspection was that the units would be too expensive for me.

I rang the agent who advised me that they were for sale as a group for $410,000. I struggled to not sound elated!

I made an offer of $370,000 and settled at $390,000 ($65K each).

The key to the cheap price was that the vendor lived in Queensland and appeared to have no idea of the value of properties in Mornington. Secondly, she appointed an agent adept in rural property rather than normal residential property. Oh well, my gain! The day I bought it I knew I purchased well.

I secured the property by putting $1,000 down on my credit card (the agent protested but accepted eventually). I obtained my 1,000 Qantas points!

Secondly, I paid about $600 for a deposit bond in lieu of the $38,000 residual cash deposit. Finally, I used the equity in my home as 2nd mortgage security for the 20% deposit amount, and therefore effectively financed 100% of the purchase price.

Actually receiving finance approval and purchasing the property was an incredibly satisfying experience. It would not have happened if I had not invested in attending your seminars.

After 2 months and some very minor cosmetic work in two of the units (one was vacant at settlement, so I renovated it – carpets, paint, blinds – and then moved one of the existing tenants into it so I could renovate his in a similar way), I had the property revalued. $535,000! I immediately sought the discharge of the second mortgage on my home.

In March this year I purchased a new home for myself and sought to refinance my entire portfolio. The Mornington property was valued at $950,000, and the valuer commented that there is considerably more upside in it with further refurbishment.

So, the bottom line is:

My personal cash outlay on the property was $1,000 (and got frequent flyer points on it!) as a deposit, $600 for the deposit bond (again on credit card), and $15,000 in renovations, as well as the ongoing property maintenance costs (which are minimal). The property is fully let and is cash flow positive.

In effect, I have received a capital gain of $560,000 in 2 years from an investment of $16,600!

This is the best of my stories, but I have a number of property investments all of which have seen stunning capital growth following the buy, renovate and hold method. Since attending Welcome to Wealth, I HAVE become a multi-millionaire.

I have paid cash for a new Porsche and live in a million dollar home with virtually no direct debt on it. I could now retire if I wanted to, at the age of 32. The funny thing is though, the greater the success the more motivated I am to keep going, work harder at it, and make more! Not just because I love the money, but because the feeling of satisfaction and the enjoyment from creating a great property out of an old hack is just immense. I absolutely love it!

Brendan Richards, Port Melbourne

Brendan Richards, Port MelbourneMILLIONAIRE BY 32

I recently purchased an investment property in the small country town of Cowra.

It is a 3 bedroom brick home that came with a reliable and neat tenant who I have signed up for a further two years.

The rental yield is 8% and I have positively geared the property using a line of credit.

The tenant was one of the reasons for purchasing the property, and the fact the house prices in Cowra have increased by over 40% in the previous 12 months.

I purchased the property in a family trust name so it is set up for my children and the deposit came from money I had invested for them in a managed fund which was non-performing over the past 5 years!

The house cost $92K and rents for $140 per week, the real estate agent says it would rent for $160 per week so when the lease runs out the rent goes up.  The loan is a line of credit with NAB and the interest rate is 6.56% pa.  It is positively geared by $17.92 per week.

I am married with two children and my husband and I operate our own farm.

I get a fantastic feeling when I receive the rental income statements and loan statements and I know that I am accruing this asset without doing anything except the initial deal!

Mary & Brett 

Mary & Brett - CowraBETTER THAN FARMING

We are retired, living in Perth, and were looking at our life savings dwindling rapidly as the bills kept coming in.

The big fund managers, had all lost money for us, so I said one day “I can lose money by myself without paying someone else to do it for me”, then proceeded to do just that, by building home units to sell to other people.

As you correctly stated at Money Magic, the only people who make money on that are the builders.  We attended Money Magic. Before the seminar was over, we were looking for suitable properties, and bought three small apartments in the first week, using our remaining cash.

Within two months, we had bought eight apartments, followed later by another three.  One was bought for effectively nothing by selling our unproductive beach-house and turning the proceeds into a productive apartment.  We chose the inner Perth suburb of Maylands for our investment, with 11 units spread over four buildings. They are all managed by our agents. Vacancy is very low – about five percent, as we chose moderate rentals to achieve customer satisfaction.

There was an unexpected problem early in the exercise, when we found that the banks would not lend on units below 50 square metres area, but our mortgage broker overcame this by lumping five units into one proposal, and now we have all eleven units financed this way. In all we outlaid about $170,000 to buy units worth about $480k, plus our home at $160K, for a personal net worth of $420K. Two years later, we have property worth $1,040,000, for a personal net worth of $740K.

Our units are only slightly cash-flow positive, meaning that we still have to watch our expenses. I have learnt to do monthly budgets, quarterly GST returns, and annual summaries using Excel.  Everything taught by Peter has worked out as advertised, or better. Our original prognosis was to take about six years to reach our first million, but it will be more like three to four years at the present rate.

Eric & Val Miller, Perth  W.A.

Eric & Val Miller, Perth W.A.RETIREES MAKE GOOD - 4 YEARS TO MILLIONAIRES

I had invested in a house in Frankston in 1992 $68,000 this was to help my tax situation, upon advice from my accountant.

I was retrenched from my Victorian Government position. With my pay out I looked at further investing in property as I felt I knew a little about it. I looked around for some time and went to investment seminars read books and decided that there were more people that can afford $150 dollar rent a week than $300 rent a week. So with this in mind I went looking for cheaper units that were in a location that had growth potential.

Lots of Real Estate agents were on the look out for suitable property for me. Then one of them rang up “I have your units for you they are in Carrum” upon inspection they were 4, run down 40 year old 2 bedroom units fully tenanted with long term tenants.

The agent said they would sell at auction for about $160,000 dollars. I started checking with other agents and decided that they would go for about $200,000 dollars. I got a bank cheque for $20,000 dollars but two days before the auction I was called away to go to Dubai in the Middle East

So Jackie had to go on her own, she was terrified having never been to an auction before, by the time of the auction I had built a rapport with the agent and he was very supportive of Jackie on her own.   The day of the auction Jackie shaking in her boots but showing outward confidence out bid 7 other keen bidders, and got the property for $190,500 dollars.  No one said anything about the fact we did not pay the maximum we had arranged.

We just settled and the agent now a confirmed friend rings up and tells me that the block of 5 units next door is for private sale.  The battle to get the 5 units was on two fronts, finance and the offer to buy. From the 6 bidders it came down to two of us, I won in the end for $278,750.00. In 6 months the value of units in this area had gone from $47625 per unit to $55750 per unit.  The other bidder I found out some time latter was my very good friend Jim the plumber. We still joke about it if we had only known at the time who the other bidder was I wonder what the out come would have been. I got a phone call a few weeks ago from the agent “do you want to sell?” A prospective buyer had contacted him and made an offer of $1,100,000.00. From $469250.00 dollars to $1.1 million in 4 years. Excellent!

Carl, Cranbourne Sth, VIC

Carl, Cranbourne Sth, VICLITTLE FISH ARE SWEET

At 31 years of age, I feel I am well on my way to financial independence.

I went to inspect a property in Lower Templestowe, having made a suitable time with the agent. The appointment was for 11.30 but we turned up 10 minutes early. The tenant refused to answer the door until the allocated time during which time the agent informed me the tenant makes it extremely difficult to show people through.

Once the clocked turned 11.30 the door miraculously opened as if on some kind of timer. Having been told to remove our shoes, we then walked into what would have to be the the cleanest and most tidy tenanted property you are likely to find, and this was a single mum with 3 young kids! Realizing that I am in the presence of greatness, I immediately asked her that if I purchased the house would she be prepared to stay on? With that her fierce guard came tumbling down as she feared being told to vacate. With her number now in hand I left her to negotiate a price and told her I would be in touch.

Whilst final negotiations on price would take nearly a week, I now had the tenant keeping me informed of any further interest in the property of which there was none. Knowing that I was the only interested party, I had time to not only negotiate price but a 4 year lease (she wanted a 5 year lease) with a $60 per week rental increase on the already top rental she was paying. She was happy, I was ecstatic!

Property was on the market for more than $400k. I negotiated a $380k price on 6 month settlement. Tenant was paying $390 per week rent. I negotiated that to $450 per week on 4 year lease.  I negotiated a 6 month settlement as that is when the current lease expired, and also gave me a potential upside for capital growth…as you taught me!

An identical property went under the hammer last weekend. I anticipate at lease $50k capital gain and I only settled on the property last month.

Whilst having had an investment property prior to attending your seminars, the confidence you gave me has seen me enter the market in a much bigger way than I probably otherwise would have. In fact I now have 6 investment properties in Melbourne (plus my own home) plus 10 investment properties in the UK that I purchased with my twin brother and 2 others.

Anthony, Doncaster, VIC

Anthony, Doncaster, VICIN THE PRESENCE OF GREATNESS

We settled on a unit in St Kilda in August.  It’s right on the beach, in a block with a sauna and a great pool.  We paid $225 000 for a one bedroom unit with its own laundry, and it was previously rented for $200 per week.

We replaced the bathroom vanity, the kitchen and appliances, re-tiled the bathroom floor and walls, laid floating floor in the main room, and had timber venetians installed.

After four weekends, a few days off work, and $12 000, we have had it revalued at $260 000, and we have it rented out at $265 pw.

I will be proudly hanging (a copy of) our “pay” cheque for $35 000 in the office!  I haven’t calculated it out fully, but I think it’s costing us less than $30 per week to own.

By showing the “before” photos to the Quantity Surveyor, we are able to write off $4000 worth of kitchen appliances and old fittings, on top of the usual depreciation schedule.

Kimberley & Paul, VIC

Kimberley & Paul, VIC$35,000 PROPERTY PAY DAY

Since I started with you, I’ve bought 2 investment properties, so I have 3 all together, worth about $950K. The properties have all been excellent, I bought  in West Footscray last year at $242K, spent 25K and now have a value of about $350K, and I bought in East St Kilda at $220K now the property is worth about $290 – $300K, and my original property in MiddlePark I bought for $165 and its now worth about $340.

Greg, VIC

Greg, VICQUICK CAPITAL GROWTH

I attended your seminar around 3 years ago.  Since that time I have bought 2 investment properties in the inner city of Sydney and my own home in Willoughby.

I am 27yrs of age and ordered my first Money Magic video set from a hospital bed when I was ill with Pneumonia because I did not want to wait one more week before starting my new MISSION. My whole family thought I was MAD as I have always been brought up to believe that you own your own home and if lucky well you may get a few shares and one investment but that did not really seem enough to me.

My sister and father are successful business people but I never had the enthusiasm to apply myself to studying or slogging the workforce. Once I realised “life is easy” and “Money is Free” I am more determined than ever.

Today I have already searched the property market to see what bargains are out there and no matter what the time or day is, the time to buy is NOW.

Melissa, Willoughby, NSW

Melissa, Willoughby, NSWBOUGHT PROPERTY FROM BED

My wife and I came to your course and at the time we were a week or so away from bankruptcy.

We were over $100K in debt – and most of it VERY very bad debt.

None the less we began putting your strategy into action.

First by beginning to pay off all our interest accruing debts.  We had a goal to pay off all this debt and buy our first investment property within 12 months.

We spent that next 12 months researching property.

And by October 2001 we had our first deposit (and had paid off about $60K of debt)

We bought our first investment property in Camp Hill for $194K.

We’d done extensive research in the area and arranged to meet the bank valuer there (from St George).

He was stunned at the research we’d done, saying that he’d never seen anyone do so much in all the 6 years he’d been doing valuations – it was only a single A4 sheet of paper.  We said that we beloved that the place was worth $210-220K

And a week later the bank approved it for the valuation of $210K! – so we were $16K ahead to start off with!  (Most people say that that is impossible, that banks never value above a purchase price – well we found that they do)

By Feb 2002, without even renovating, we looked at the market and saw that it had moved.  We did up our second report and asked for a valuation of $240K from the same valuer

He then again approved this amount!

So we got ready to renovate in April 2002.

Still without any money behind us, we asked for an on completion renovation to finance the renovation from the bank.

We got another valuation for this and asked for $285K

The same valuer again approved this amount and the bank gave us access to $40K to renovate.

We only wanted to spend $22K but being our first time spent $27K

After this we researched the market again in June 2002 and were stunned to see that from a certain point of view our house could be worth $335K

We got our same valuer out again – the 4th time – by now we had built up a relationship with him as you told us too.

He loved our renovation and was very impressed.

Within 5 minutes of being there he asked us the magical question that you said they would one day ask

“What do you think its worth?!”

We were stunned.

We gave him our report – and said $335. He didn’t bat an eye lid.

The next week we got our confirmed valuation of $335!

That was only 6 weeks after his previous valuation of $285K for the on completion, and we asked for another $50K, which he gave us.

So all up we made well over $100K in equity in just over 6 months.

Admittedly we’d chosen well and market had done most of that for us but we were only able to do that because of your training in the selection criteria.

What this has really taught us is that money REALLY is all just made up, just an idea, and that you can make a case for anything.

Since completing it in early June we’ve been hunting every weekend for our second one.  It hasn’t been easy to find one.

But just THIS WEEK we signed a contract on our no. 2.

Having found that EVERYTHING you said would happen we have no doubt about the rest of your strategy, especially if it is followed to the letter.

Barnaby & Angela, NSW

Barnaby & Angela, NSWFROM NEAR BANKRUPT TO $100,000 PROFIT IN 12 MONTHS

I recently bought a house at Camp hill for $175000; I had a rental appraisal which was $220/week but I could not find tenants so I moved in for 6 months and rejuvenated the property. The house had 2 average size bedrooms and 2 closet size bedrooms. After days of deliberation I decided to reduce the property to a 3 bedroom ensuite house.

When finished the property was totally rejuvenated for just under $15000.

The tenants could not move in quick enough paying $260/week which has worked out to be a great return on my $15000 invested. The property was then valued at $240000.

Overall my story is not just about a great result in property. For me, it is about changing the path of my life which is what I am eternally grateful for.

David, QLD

David, QLDCHANGING THE PATH OF MY LIFE

Since your seminar I have achieved the following millstones;

Starting Base Property $300K and Equity $100K

1. $1.1M in property

2. Equity $250K

3. $49K rental income

The next 12 months still look strong.  The property will continue to grow, hence equity will grow. Even if I do nothing for 7 years, I will still become a millionaire. The time a head is to improve my skills, knowledge and experience in the market.

Peter, VIC

Peter, VicMILESTONE MAKER

Only three years ago we bought our first home and borrowed $96,000. 

We then thought we would add a pergola.  We started what was to be a simple reno and it became a major re-development of the property.  I worked three jobs at the time and did not sleep very often but after 12 months of blood, sweat and tears we finished our project.

The nice thing about all of this is Jackie and I got married and enjoyed our reno experience which we have been told is not the norm for couples. 

We then went to the bank and asked if we could by a present for ourselves as kind off a reward……… The bank Manager who we owe a great deal of thanks as well guided us through our first re-mortgage programme. We thought only of the WRX with which to measure our success and forgot the true value of property. Not TOYS as the vehicle will loose value and cost alot of money……. This was when I found an article of Peter Spann’s and read how we may be able to apply the rules we had used to buy the car, to financial freedom………… I spoke to Jackie and although sceptical at first, I managed to get two of our friends to come along to the introduction night.

Wow did we get fired up!  When returning to Ballarat we contacted the Bank organising for a valuation to be done asap……… We then spoke to our good friend (bank manager) and asked if we could apply for a line of credit loan. To our total disbelief our property was valued at $280,000.  Wow we only owed $112,000 and we had a re-draw of some $150,000 with which to invest. We then attended Property Magic and learnt from Peter how to use this line of credit to our advantage.

Appling the rules of position, position, position I studied our area very hard and bought at auction one of those special bargains which only dreams are made off. The position is 3 residential doors from our most sought after land. The two blocks 3 doors from our block just sold for $405,000 and $435,000 for a 701 sqm block size.

We purchased our property 14 months earlier and paid $180,000 for 506 sqm. We had our property valued last week and the staggering figure of $300,000 was given. This is land value as the house is some what (yucky). We also bought a property last year with equity $115,000 which is now approx- $125,000 and we have not rejuvenated it yet. Jackie and I hope to purchase another property in the next month this is worth $140,000. We are really impressed with our property portfolio.  It has grown from 1 house value $96,000 to 4 houses at approx-$900,000 in equity we are so proud of our achievements to date.

David &Jackie, VIC

David & Jackie, VICPROPERTY V’S FAST CARS – PROPERTY WINS

Here are the details of what I have been able to achieve. I have massaged some of your rules to suit my individual circumstances.

Property 1        Small beach shack on valuable land on water front – Phillip Island Victoria. Used your ideas of creating an expensive look at a reasonable price.

100% equity Value before rebuilding                         $ 230,000

(redraw Facility in place prior to building)

cost of initial purchase  4years ago                             $135,000

rebuild furnish all costs                                                           $210,000

Bank fees/quantity surveyor     etc                             $2,000

Value now                                                                               $650,000

Profit since building                                                    $208,000

Equity now                                                                             $470,000

(have put in extra money while waiting for next project)

Property 2            Double story property in same area 20 years old

This property was in a mess, and smelt terrible. Mess is money. Had been rewired restumped, & replumbed. Divorce after many years wanted quick settlement. Could oblige. Used redraw facility for deposit and costs

Cost of property to buy                                                          $397,500

Refurbish, polish floors etc                                         $4,000

S/duty bank fees                                                                     $21,800

Total Cost                                                                               $422,800

Value now ( 3months later)                                        $490,000

Profit                                                                                       $67,200

Equity                                                                                     $170,000

( have put in extra money while waiting for next project)

Total profit                                                                              $275,200

Total equity                                                                             $640,000

The profit has been helped enormously by the huge capital growth in the area, in recent months.

Andrea, VIC

Andrea, VICMESS IS MONEY

At long last we have stopped procrastinating and have bought our first investment property. (18 months since doing your courses) Not only did we buy one, we brought three.

It was more a getting over the emotional attachment of money and worrying about what others think than not being able to afford it. Now we can see we can’t afford not to.

No wonder you love property so much as it was fun “playing the game.”

First property was listed for $269000.

We paid $255000

Second property was listed for $189000.

We paid $175000 and managed to get the real estate agent to pay the building report & white ant inspection. A saving of $450.

Third property was listed for $165000

We paid $155000

So far all it has cost us is the stamp duty as our farming property is valued at $1.2M and we have used some of the equity in that.

We have cut our market garden business in half this year so we could have a life and have some time to become wealthy and with the price of pumpkins this year we could still end up making just as much profit for half the work.

Now all we need to do is the next stage of the plan and stop physically working altogether.

Neville & Tania 

Neville & Tania PROPERTY BETTER THAN PUMPKINS

Since doing your seminar, our lives have changed considerably, all from the information we put to work from your seminars.  I was working as an Interior Designer for Architects, and my husband was running his own Handyman business for the last 8 years.  We have 12 months

ago now, sold the business and I gave up work, we now buy property, rejuvenate it and either sell (as few as we can) and keep most. Doing what we love EVERYDAY, living A LIFE OF CHOICE, spending every day together – our lives are so easy and fun, we work when we feel like it and

rest when it’s hot, we go to lunch during weekdays and take as long as we like, we went skiing last year for our holiday, and I have just spent 5 weeks in Newcastle with my sister helping her recuperate from open heart surgery, prepared to pay for large medical bills should her insurance not cover – something I would not have been able to do had I worked as an employee for someone, and been without wealth.

We last year made $50K from one property rejuvenation in 3 months, and rent went from $150/wk to $270/wk.  We are currently rejuvenating a once grand, large old Californian Bungalow on a 1000sqm block, which we plan to sell for approx $150 – $200k profit in 6 months.  We are doing this with not putting a cent of our own money in, being able to live in a grand old house rent free.

The profits from this house will go into our trading portfolio to give us financial freedom for the rest of our lives – all in 2 years (sometimes I think what’s taken us so long??)

We have another investment property waiting for us to rejuvenate when we have finished this one, one which we purchased 8 months ago, and only settled on in November – Growth before it’s even ours, by the time we have finished we will have made approx $120K in 12 months from purchase.

We are now invited to be guest speakers at Property Investment seminars, and teach others what is possible, and consult to others rejuvenating.

My sister has now moved to Perth to live with us and learn about wealth creation.  It is amazing that I have inspired her, and can affect her life too.

All along the way we have a plan and are totally focussed and passionate about what we are doing and where we are going.

Rowena & Chris

Rowena & ChrisFROM JOBS TO FREEDOM IN 2 YEARS

On the weekend, utilising some of your auction techniques, I achieved a $300,000 gain in the same day.

Since selling our own house nearly two years ago, we have been looking for property or land for our own house (hubby is a builder!) and have been concerned about the market getting away from us.  In the meantime, I have bought two investment properties.

A week ago, we found a block of land that knocked our socks off – views of the city, 20 metres to parkland which leads down to the Yarra River, and 5 mins to the CBD.

A subdivision had been completed on an existing house and land – dividing it into three lots – house and two vacant blocks.

We were interested in “the tennis court”.  Our valuation came in at a top level of $780,000, so we were already thinking we may be able to capitalise if we could buy for a good price at the auction.

On Saturday we attended the auction.  The other vacant block set a record for the suburb of Kew – $1,305,000.  I started to feel a little disillusioned about whether we would be able to afford our block!

I had reviewed all your auction techniques and ultimately applied your strategy of rapid bidding and a little intimidation to knock out some competition and successfully bought the block for $690k.

I rang my valuer as soon as possible, and based on the size of the blocks and the record price set by the other block; he is going to prepare a revised valuation at around $1 million!!!

Gail, Mont Albert North, VIC

Gail, Mont Albert North, VIC $300,000 “PROFIT” IN A DAY

I am a surgeon in rural Victoria and have been living here for 15 years, now aged 48. My interest in real estate began when we bought the place next door in East Geelong mainly to control and ultimately evict the tenants, my wife and I spent about 15K painting and cleaning it up and rented to a vastly improved set of clients.

Realizing that after tax it only cost me about $20 pw it seemed logical to buy some more.

I thought about it, did some research and decided that Brisbane being the fastest growing major Australian city provided the best prospects, booked out 3 days and flew to Qld. saw many agents in inner Bris. and bought a house in Ascot with sensational river/city views for 430K.

I then went to Darwin and bought townhouse in inner city for 420K.

Enter Peter Spann, I did your Melb. 4day seminar and started buying everything I could get money for.

I now have 21 properties in Melb. Syd. Bris. Darwin. Geelong.

My sensational wife is as enthusiastic as me and in her own fantastic detailed way renovates them very well, usually with upmarket appliances landscaping and we employ gardeners to maintain them.

We usually spend 70-110K on the jobs and have always found that not only does the increased rent more than offset the additional interest but that we seem to have a zero vacancy rate, and no hassles from the tenants.

I feel that we are poised to buy another 5-10 places in the next 18 months, the limitation now relates to serviceability on my fixed interest only loans.

Most are negative geared; we keep drawing out equity and have a relationship with valuers in all cities.

Basically I am paying interest but absolutely no tax.

Brisbane has been our goldmine, and we intend to keep going there in the next 12 months.

Our capital gain over the lst 2-3Y has been approx 2Million.

Russell & Michelle

Russell & Michelle, Geelong, VicSURGICAL APPROACH NETS $2 MILLION

After attending Property Magic last year I was spending much of my time in Canberra as my Father was in Hospital.

I had come from Canberra,  and decided to explore the property market between visiting my Father. I contacted a couple of agents I knew and scoured the net and newspapers , making  calls and inspecting a lot of properties, then working out on a spread sheet if these met our criteria. We ended up purchasing 2 properties. Both with positive cash flow as well as gaining capital growth 1. A two bedroom unit in Reid minutes from the city centre.

The purchase price was $ 229,000, with a weekly rental of $ 350.

This property settled in January 2002 and the current value is $280,000

2. This property was purchased on Dec23 2001. Asking price was $47,000- I negotiated down to 43,500, was being rented at $ 90pw. A 2 br unit in Queanbeyan, older style that need a new kitchen and bathroom. Before settlement took place a new tentant leased the propety for $ 100 pw and we still have to do the rejuvenation. Current valuation is $ 65,000

Suzie & Des Cheel

Suzie & Des Cheel CAPITAL GROWTH AND CASH FLOW IN THE CAPITOL

I wanted to purchase another house to live in & make the current home our 2nd investment property but was a little daunted and was thinking & prepared for it to take a longish period of time.

I purchased the Wealth Magic seminar on recommendation from a friend. Immediately it became impossible for me to watch the seminar as all manner of interruptions occurred – a sure sign I was on to something good!

I persevered.

I told others I simply HAD TO watch these videos NOW!

They thought I was nuts!

It helped. They left me alone!

The seminar was great. Peter Spann’s forthright attitude, whether I liked it or not, was honest and straightforward. I felt comfortable enough to listen & learn.

I was inspired. I planned, researched, played with figures – very important for me – & as a result could SEE THAT I COULD DO what Peter taught in the seminar.

But I was out of touch with my family as I had neglected them while watching videos.

We fought.

In a flash of desperation I suggested a small, family outing to look at my old childhood home which had just come onto the market. Dell & Steve agreed to come with me.

The Home Open was half over so we didn’t have much time. Urgency had us racing, leaving argument in its wake!

We were just in time.

Although we were not thinking of buying this house, I suggested we not mention my “attachment” to the old place.

Viewing the Old Home was a delight!

The interim had seen upgrades that were exactly as we had pictured when we had considered buying the place in 1986!

It was uncanny! Incredible and had such an effect on us all that after the short viewing we stood outside with a Brand New Dream plus a touch of NECESSITY! In short we MADE A DECISION!! Yes, we were agreed: we WANTED this place….and had decided to get it.

The erasure of doubts & uncertainties was definitely assisted by reviewing the Wealth Magic Seminar and revisiting THE DREAM!

But it was still scary.

Could we do it? The figures said YES! Our hearts said YES! Stinkin Thinkin – as Pearl (my Mother In Law) calls it – said NO! We wondered what the bank would say.

I needed a second opinion. I reviewed some of my other wealth creation materials & bought some more wealth building books. I reviewed parts of the Wealth Magic Seminar.

I realised I was just procrastinating – stinkin thinkin had tricked me into “being careful”.

I was wasting time. I got onto it. I rekindled THE DREAM. Dell & Steve were hot in support. James, Renee & Troy were interstate but were very keen on the phone: “Go for it Dad!”

We burst into action.

But the confusion!! Taxation, paperwork, accounts, general administration! – we new we had needed to get up to date for some reason. This was it.

Fever pitched activity. Yelling! Furious questions! Quiet late nights attending the details & eventually the relievedness of it all when realised we could do it, our offer was accepted and loan application was in process.

But something Collapsed!!

The vendors condition was to find another house by the agreed date but this was not a problem as they already had an offer on their dream house.

It all fell over! They lost their dream and that was the death knell for ours too.

We gave them more time to find another but this time expired without any visible hope in sight!

I reacted and decided to not give them more time. Big deal. What good would that do.

We all began looking at other houses to make our new home. We looked at homes one at a time then in batches of a few. Then lots of 5 – 10 in a day. My holidays (planned for the move to the new house) came & were totally consumed looking at alternatives!!

EXASPERATION!!

I stopped & reviewed the madness.

It had hidden our DREAM, but I knew it was in there some where!

I conjured it up yet again. Yes, there it was…still the same. Everything else may have changed but the good old dream was still there! Relief! I had almost fallen for it – the idea we had lost, that is.

Now I felt personally challenged. The universe was in conspiracy.

I decided my intention was to prevail and told the agent to tell the vendors we would wait. “Take as long as you like” was my attitude, but we agreed on a time frame of 6 months. And I decided to just be confident that it would eventually fly….and would not worry or stress about it. IT WOULD HAPPEN.

There is much more to this but I will put this story out of its misery: Yes it all finally came off, and it didn’t take long really – it was soon after we decided to let the vendors have enough rope to hang the conspiracy that it all happened.

We got that dream and are busy creating our next one. So I suppose this is a classic example of many things good(making it happen despite the odds etc) and bad(being emotionally attached etc)  but it is not so much a story of wealth creation -yet – as one of turning a dream into reality. And in closing I really would like to acknowledge Peter Spann and his organisation – and of course the data in the Wealth Magic seminar for greatly helping us to pull this all off.

Darryl & Dell Burnside

Darryl & Dell Burnside

I’m a farmer who was struggling to keep my farm which is where I love to live. I did your course, and was inspired to have a go. I sold all my sheep and agisted  the farm out.

1. With my sheep money ($60k) I bought and renovated a house (Jun 2000). I learnt a few lessons with this one and sold it on at no profit (apart from the experience). I went on to buy 3 more.

2. Bought $240k, Mar 2001 & rented at $180 pw no renovation, on med density zoning. I was offered $320k 1 year later so took it, for $70k profit after costs.

3. Bought, Jun 2001,  2 b/room $180k and did $17k reno. (bathroom, kitchen, driveway and carport, and some polished floors) This rents at $250pw – current valuation is $380k

4. Bought Jul 2002, $310k did $45k reno rents for $380 pw

current val  $450k

At this point the realised profit or equity profit in the houses is (not inc tax implications) :

1. $0

2. $70k

3. $180k

4. $80k

Total is $330k over 2.5 years.

My farmer neighbours are currently going through another terrible drought, and losing stock and trying to limit losses anyway they can. While the drought has effected me, my diversification has meant we get to keep living where we want to live and can do so without the stress of relying on the unreliable income of a farm.

Having just redone the course, the new goal is 2 houses / year. This is very conservative and with out using the equity in the farm.

I hope you can use my story, as I would love more farmers out there who are struggling to be able to free themselves financially so that they can enjoy the wonderful lifestyle farming has to offer. The lifestyle doesn’t exist when you are living on the poverty line.

Rory McDowall

Rory McDowallFarmer Gets the Golden Fleece