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Real Deal

Real Deal. Ollie Hooper. About me. Corporate background - 10 years with multi-national. Auckland> Sydney> Gold Coast> London> Melbourne> Brisbane> $100k + salary, car, expense accounts, travel junkets, low stress Decided it was not where I wanted to be in 10, 20, 30 years time.

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Real Deal

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  1. Real Deal Ollie Hooper

  2. About me • Corporate background - 10 years with multi-national. • Auckland> Sydney> Gold Coast> London> Melbourne> Brisbane> • $100k + salary, car, expense accounts, travel junkets, low stress • Decided it was not where I wanted to be in 10, 20, 30 years time. • Started investing seriously 6 years ago • Installment Contracts • Sub divisions • Construction • Last 2 years full time investing and running my own commercial maintenance business (R2BG Maintenance) • Last year became licensed mortgage broker due to the synergies and regulation within credit business. • Shortly launching R2BG Investments

  3. Real Deal:Multi-Strategy Roller Coaster! Denver St Norlane, VIC (2006)

  4. Phase 1: Back-to-Back Lease Acquisition 2006 On-Sell 2006 • Controlled in 2006 under an “Assumptive Option” from a tired landlord. (1 of 3) • Option Fee $3000 • Option Price $160k • Monthly Payment $890 • Lease-Option 2006 to new buyer • Option Fee $5000 • Option Price $185k • Monthly Payment $1213 $2000 Profit, plus $323 pcm cash flow

  5. No issues until late 2010 then ….. Late 2010 became clear the buyer was having personal "issues" but payments were still regular. Further investigation found house now included “house mates” and had been trashed! Negotiated with outgoing buyer to have house cleared of junk and handed back in "as-is" condition.

  6. "as is" condition...

  7. I had a problem ... House required $30k - $40k of work to bring it back into shape Potential sale price didn't warrant the investment or the time. Property was leaking cash each month What to do ....?

  8. My Plan …. Turn this problem into an opportunity for someone else!

  9. Re-Marketed the Property... Classified ad in local paper

  10. Captured enquiries Respondents to ad captured by a specific landing page and produced an outstanding result!

  11. Successful Buyer: “Mr Mechanic” & Wife Long terms renters 10 years + Self Employed1 x Minor credit issue Not enough deposit Needed time to get financials sorted Had access to “resources”

  12. Phase 2: Agreed Works & Terms Terms: Purchase property “as is” on an installment contract $7000 deposit paid up front Move in & commence payments immediately 6 Months to complete work All works certified & insuredDeposit credit applied after agreed works completed in full Refinance later in 2011

  13. Phase 2: “Sweat Equity” + I.C. Acquisition 2006 On-Sell 2011 • Purchased under an “Assumptive Option” from a tired landlord. • Option Fee $3000 • Option Price $160k • Monthly Payment $890 By Installment Contract to “Mr. Mechanic” + Wife Purchase Price “as is” $207,000 Deposit prior to move in $7,000 Deposit Credit $25,400* Balance Owing $174,600 Monthly Payment $1457 Deal Summary:$7000 upfront profit cash No out of pocket expensesNo renno work at all on the property$567 pcm positive cash flow $14,600 cash on re-fi / cash out

  14. Thank you & Questions?

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