How This 70 Year Old Woman Made $2m+

This week, I wanted to share a story about one of our most intelligent clients and the “Window of Opportunity”.

The story begins with one of the smartest clients we’ve had in the last few years. She wasn’t a high flying business person in their mid 30’s or 40’s. She was a 70+ year old woman.

It was the start of the drama unfolding that was COVID in early 2020 and she had just sold her family home. The truth was, she wasn’t seeking opportunity at all. She was terrified that she now had a big pile of cash in the bank.

“What if they went bust like many did overseas in the GFC”, she thought to herself?

Whilst lots of people were worried about property as everything unfolded around the world, her thought was certainly “contrarian”.

“Why not have 7-8 blue chip, median priced properties, spread across a number of suburbs instead. They’re still going to rent out for something and even at 1-2%, it would still create a $100k-$200k income.”

I always talk about how I purchased half my current property portfolio during the GFC and reaped the generous rewards that followed, though how many saw the same opportunity during the initial COVID outbreak?

Anyway… long story short… this 70+ year old woman bought $10m worth of property during COVID, buying a (approximately) $1.25m property every 4-6 weeks (dollar cost averaging to reduce risk).

My estimates are that she bought them at 5-15% off what they would have cost a few months before the virus had hit.

 

It didn’t take long to reap the generous rewards.

According to Corelogic, these properties have experienced around 10% growth in the last quarter alone.

 

This would give our client a very comfortable estimated gain of $2m-$3m or a 20-30% increase on purchase prices.

Not bad, right?

Not many people took advantage of that temporary “Window of Opportunity” and I don’t think many people will take advantage of the current one.

What “Window of Opportunity” am I talking about?

This one:

Many sellers are keen to sell and are nervous about the most recent outbreak. People panic.

Most buyers can’t get into open homes as they’re only by private appointment and many tenants aren’t letting anyone in their doors.

Sales agents need and want to do deals.

If they have one chance at getting a potential buyer into an open, who do they invite?

1) Joe public who is probably a tyre kicker, not approved for finance and not ready to make a decision

or

2) A buyer’s agent who they’ve dealt with for 10-20 years and done 50+ deals with them, who has a client that is approved for finance and has committed to buying by engaging a buyer’s agent

This opportunity, like all opportunities, won’t last long.

Properties are still selling well above reserve and this is your opportunity to avoid paying a fortune.

99% of properties we buy are bought off market or pre-auction and the price we pay is based on a conservative bank valuation, meaning you’ll probably save at least 5-10% compared to bidding with competition.

If you want to be our next intelligent client and want to buy a home or investment property, you don’t need $10m.

$750k – $1.5m+ will do but you need to be:

A decision maker.

Where do you get started?

 

Don’t try and navigate these tricky times yourself. It’s not worth the risk.

 

For more content, chat and property tips, be sure to find me:
Facebook: https://www.facebook.com/ChrisGraySydney
Instagram: https://www.instagram.com/chrisgrayempire

Book a free, confidential mini strategy session with our property expert Luis Lequerica: https://calendly.com/yourempire/15min

Or simply, get in touch with us today on our contact page to discuss your requirements.