IT engineer Sanjeev started his property dream with one goal. He wanted to create a $100K passive income within 4 years.
Sounds impossible, right?
After just 2.5 years and 4 property purchases, using my High Income Real Estate System, Sanjeev had over $90K in passive income!
How did he do it? Well, Sanjeev and his wife started like so many investors, with his dream home or principal place of residence. Their daughter was born there, and for all intents and purposes, they were living the ‘Australian Dream’.
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After attending the HI-RES Bootcamp, Sanjeev realised the key to his financial dreams was sitting right under his nose. We showed him how his 4 bedroom, 2.5 bathroom home in NSW, could become a micro-apartment (HMO or Rooming House) conversion with 5 bedrooms and 3 bathrooms aimed at the affordable housing market.
Yes, he and his wife had to move out of their family home. After the conversion, they took it from a property that would have rented for $620 p/week to one that rents for up to $1200 p/week.
He has since gone bought another property in a regional town of NSW for $300K and converted it into another HMO property.
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“I bought this ugly duckling house and invested fifty thousand in renovations, another ten thousand on HI-RES safety features, and we rented all the rooms… we’re getting $800. If I had to rent that … to a normal family, I would be looking at $390 – $400,” Sanjeev says
That second property now affords Sanjeev and his family $25K cash flow after costs per year!
And Sanjeev didn’t stop there. He continued to purchase further properties using the HI-RES strategy.
As Sanjeev puts it, “Investment is a game. You’re looking for a return. And if you are investing, just look at where you can do a HI-RES because you’ll be looking at 5%. 6%, 7% if you’re lucky … but if you can get 12 or 15%, if you can get a better return, why would you not apply that?”
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PURCHASE PRICE: $615,000
RENOVATION COST: $20,000 including furnishing and styling
RENTAL RETURN WEEKLY
$620 per week
$1190 per week
$570 per week uplift
$32,240 per year
$61,880 per year
$29,640 per year gross uplift