SITNB Mastermind Students, Fiona and Darin, had been preparing to convert their 4 bedroom family home into micro-apartments to uplift their cash flow, when COVID-19 hit.
Pastor and Optometrist, Darin, and wife Fiona, play a huge role in their community. They have fostered children for over 20 years, with Darin being granted the honour of ‘Father Of The Year’ in 2018.
When COVID-19 hit, Darin and Fiona found themselves in a vulnerable position. They were about to move out of their family home and settle on their new ‘principle place of residence’ (PPR), when Darin, unable to see patients due to COVID-19, found himself without an income.
They were forced to ask themselves some hard questions.
SCROLL DOWN FOR BUDGET BREAKDOWN AND VIDEO!

With careful configuration, a TV room becomes the bedroom in one of the 5
self-contained micro-apartments.

They were on the precipice of having to pay for 2 mortgages, with no income. A decision had to be made!
Do they charge full steam ahead with the conversion of their original family home to increase the income? Or, should they hold onto the savings that they have, and ride the market instability out?
After careful consideration and due diligence, they made the decision to continue with the micro-apartment conversion and rent their PPR to tenants as soon as possible. They had interest from 2 tenants hoping to rent a room, before tradies were even on the tools!

And enclosed patio becomes a communal entertaining space and laundry.

Their home, under standard residential tenancy, would have earned $500 p/week. Once converted to 5 x affordable micro-apartments, conservatively they’re expecting to see at least $1200 p/week for the property. That’s an extra $700 p/week, or an extra $36,400 p/annum.
The renovation budget was set at $27,000 plus an additional $5,500 for furniture and staging. With my help and my team from Small Is the New Big Team, the final construction budget we came in at $32,622.

A large master bedroom becomes a self-contained suite with plenty of natural light
and an adjacent kitchen and bathroom.

Instead of Darin and Fiona living off their savings, which they could not afford to replenish, they spent just portion of that, and will see nearly 100% ROI within the first 12 months!
What’s more, every year after that, they will see $28,600 net profit. That’s money they would never have without having applied the strategy. This is an incredible example of getting your money to work for you!
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This dated granny flat is now a chic and modern self-contained micro-apartment

Their affordable housing development has also produced 5 X affordable housing options in the local market place.
With COVID-19 impacting both landlords and tenants, demand for affordable housing is on the rise. Everyone wins in this scenario – both tenants, and Darin and Fiona as landlords!
FINANCIALS
PURCHASE PRICE: $435,000 (2011)
RENOVATION COST: $32,847
BEFORE AFTER RESULT
RENTAL RETURN WEEKLY
$500 per week
$1,210 per week
$710 per week uplift
CASH-FLOW ANNUALLY
$26,000 per year (Gross)
$62,920 per year (Gross)
$36,920 per year uplift

A light and bright private kitchen and living space from one of the 5 micro-apartments in this affordable housing conversion.

An example of how a laundry cleverly converts into a bathroom/kitchenette
with the addition of a shower stall where the appliances once stood.

Want to know more?​

Clean and bright styling makes these micro-apartments highly desirable...
like boutique hotel suites!

An example of one of the private kitchenettes.

A living room adjacent to the kitchenette with views to the garden.

A studio-style master suite with attached kitchen and living space.

WATCH THE WHOLE PROJECT COME TOGETHER IN JUST 48 HOURS BELOW!

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8 thoughts on “Community Micro-Apartment Development Results in $28K Annual Profit”

  1. If i join the program. Does the network or program do micro apartment fitouts in Singleton, NSW. Using the programs builders.
    regards: Peter Kocyan

    1. Ian Ugarte Team

      Hi Peter, Thanks for your message. We don’t currently have a build team in the Singleton area, however, the HI-RES program will teach you everything you need to apply the strategy yourself while remaining compliant with the local council and government regulations. To book a strategy call with my team and find out more, click HERE.

  2. Hello,

    I would like to convert my 4-bedroom apartment in Hervey Bay, Queensland to micro-self contains. Do you offer the services in my location please?

    Thanks

    1. Ian Ugarte Team

      Hi Peter – thanks for reaching out. A member of our team will be in touch directly to help you with your inquiry.

    1. Hi Richard,
      Yes, Our Do It For You team (DIFY) can handle the whole process for you, from sourcing and buying the property, to arranging plans and certifications, as well as the construction process. Students of Ian’s HI-RES program receive a discount on the DIFY service fee that is essentially equal to the course cost.

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