A lot of people in the property investing industry, err on the side of optimism with property prices.
However not self-made property multi-millionaire Nhan Nguyen.
One of Nhan Nguyen’s early property deals was around 20 townhouses in Brisbane.
Him and his partners were on track to make about $1 million in profit.
But then the GFC came and a lot of the buyers started ‘falling over’, and prices fell.
They ended up selling the properties – but at reduced prices.
This meant, instead of making $1million they made about $200,000 profit.
And, there were a few sleepless nights in this time.
Since then Nhan has been a self-confessed property pessimist.
When he does a deal….he assumes prices will stay flat….or even fall!
This means he must make money when he buys…..by buying discounted properties at off-market prices.
And, then he must add massive value, in the fastest possible way.
Get in, get out, get paid…is his investing strategy…and if he gets capital growth, that’s just bonus profits.
Does it work? You better believe it.
For example, on one project him and his partners made around $850,000 pre-tax profit in 9 months – by splitting up a big block and selling the smaller land lots.
Here’s his kids celebrating because they knew this meant another holiday for them:
Want to learn how to do these sorts of deals? Come and join Nhan at a free webcast and he’ll talk you through how it all works.