Leon Weber was already running a successful business when he decided to turn his attention to property.
He’d just returned from 12 months of living in Poland and was ready for a new challenge – and that’s precisely what real estate proved to offer.
Today, Leon routinely makes six-figure profits from every deal he touches.
“I have yet to make less than $100,000 on a deal,” he confirms.
But getting started on this pathway to property profits wasn’t easy – and he credits his mentoring with Nhan Nguyen as making all the difference.
Right mentor, right time
Though Leon wasn’t new to property when he began working with Nhan, he was new to the strategies and tactics he was introduced to, which super-charged his profits.
He had previously traded property in Rockhampton, Queensland, where he’d made a few dollars.
But by seeking advice from industry professionals, Leon Weber saw his profits soar.
“Having a mentor is great; it’s not exactly so much about [learning] how to do it, but learning how not to do it,” he says.
“I think working with Nhan probably saved me a year or two of procrastination and deliberation, and possibly saved me from screwing up deals at the start. [We] managed to pull off a heap of deals and have not made any big mistakes along the way.”
Jumping over profit-killing hurdles
“I remember in the early days, there were a few deals that were in danger of going pear-shaped a day or two before settlement. That was so hard – I was feeling sick, not eating or sleeping for a few days, trying to get the deals done,” Leon says of his early property experiences.
“But I feel like with each deal, I pick up something new. The process of going right through to the end allows opportunities for problems to come up, but I look forward to solving those challenges – because I always walk away having learnt something.”
One of the biggest realisations he’s had to date is the fact that property is “a people game,” he adds.
“There are often challenges, but it’s just part of the game now. Every deal has dramas, but now this is my business and I make property my full time focus.”
Following on from Nhan’s mentoring, Leon has also learnt to think critically and make proactive decisions that have delivered staggering results.
For instance, he recently did a joint venture with a partner who brought the deal to him and funded half of it.
“We turned the project around in four weeks and we made $200k,” he says.
His broad strokes strategy focuses on development deals and/or cosmetic or structural renovations. By negotiating hard on the purchase price and strategically managing his projects in a hands-on manner, he’s keep his cost base low.
“I generally keep the house and renovate, then subdivide and sell the land off or package it for sale as a house and land package,” he says.
And the profits keep rolling in
Leon has completed all different kinds of projects, from small cosmetic renos to multi-unit projects.
“One I bought really cheaply and after I renovate, subdivide, sell and keep the house as a rental, the property I hold onto will be almost debt-free,” he says.
“Every property has its own set of strategies and I always look for up to five different exit strategies before I go forward. I’ve had up to seven!
The Dream Lifestyle!
In amongst all of his property wheeling and dealing, Leon and his wife have created an enviable and flexible lifestyle that sees them travel the world.
“We went to a wedding last year in Canada and while we were there, friends offered us the opportunity to stay at a couple of holiday homes, there were two cabins on islands, we got offered a BMW bike. We said yes to everything and extended our trip by a month!” Leon says.
“We didn’t pay for anything and had an awesome time travelling around Vancouver Island. It was only possible because we were able to manage our property deals from our laptop. We can do the work from anywhere around the world… So now it’s onto bigger deals, bigger sites, and hopefully bigger profits!”