James (Renovator), Ron Hoy Fong (Principal), Linh (Coach), and Marias (Investor)
Where it all began…
Marias and his wife had been interested in property investment to provide security for themselves and their 3 daughters. They already owned a home in Coatesville, but weren’t sure how to take the next step to begin building a property portfolio.
Marias got chatting to a friend who recommended that he speak to us here at Ronovationz. After one meeting with our amazing Property Coach Linh, Marias decided then and there that Ronovationz was the company for him and he was ready to invest in property!
Finding the perfect property
Once Linh and Marias looked at the numbers, they strategised on what the perfect property would look like. That strategy actually involved finding two properties – one for high capital growth and one to provide cashflow.
Because Linh understood Marias’ wants and needs so well, she found an ideal first property in no time. This property was in Mt Wellington, Auckland and the sale proceeded without a hitch. But, there was a long settlement date. Not wanting to sit idle, Linh found the perfect second property in Mission Bay.
She knew that the amazing location of this property would be of huge benefit to Marias, but also that there would be stiff competition from other potential buyers. She was not wrong! The auction process was intense, but Linh was worth her weight in gold.
Not only did she liaise with the selling agent and place the auction bids on Marias’ behalf, but she also coached him on the body language he should portray at the auction, she worked to lower the reserve price by more than $120,000, and after an hour and a half, she got the sale over the line.
In the space of two short weeks, Marias and his family were now the proud owners of two new investment properties. That is when the next phase started.
The Renovation Process…
Because of the long settlement date on the first property, renovations began on the Mission Bay home as soon as the keys were in hand. Before the deal was even made, Marias knew exactly what the house was going to become thanks to Linh’s due diligence and engaging James from the Renovation Team well in advance.
Over the course of 8 weeks, the home was transformed. James had a plan to renovate the property to last for the next 20 years so this included adding a bedroom, and replacing all of the rotting timber window frames with the better insulated and virtually maintenance free aluminium equivalents.
Also, the entire exterior was repainted, the floors were polished, a wall was removed to give better flow between the lounge and dining areas, a skylight was added to the dining room to improve the quality of light, the outdoor areas were freshened, new lights, wardrobes and doors were added, and the switchboard was updated.
The high quality of the renovation project has made for very satisfied tenants who are happy to pay above the market rate in rent.
The End Result
After spending just $50,000 on the renovation, the value of the home had increased by $340,000 in just 8 weeks. Because of this huge gain in equity, Marias has already been pre-approved by his bank and is on the hunt for a third property now.
On Linh’s advice, the house is currently being rented on a short-term lease for $650 a week. The lease is due to expire in January which is the peak time of year for rentals. At that point, with Linh’s help, Marias will be able to negotiate a higher rent to maximise the return on his investment.
The most satisfying part, Marias has only been working with Linh since February. So, in 5 short months, he has gone from having no knowledge of property investment to being the proud owner of two investment properties with another on the way.
Would you like this kind of success in the property market but you aren’t quite sure where to start? Then you need to get in touch with Ronovationz as their trained property coaches guide you through every step of the journey towards success.
Meet Linh
Linh comes from an extensive and successful background as a Sales Development Coach, Retail Country Manager and entrepreneur. She advocates that her success is not from “what I can get”, but rather “what I can give to help others.”
At a very young age Linh arrived in New Zealand with her family as refugees, and by the age of 13, had left home and dropped out of school with no real plans for her future.
When she was 17 and with only $2 to her name, she came across a book titled “Rich Dad, Poor Dad.” The moment she finished reading it was the moment she decided it was time to take control of her future. By the age of 22 she had owned 3 different businesses, and at 25 had bought her first home with her partner.
Linh met Ron and joined Ronovationz in 2014. With only a small amount of equity in her family home and the guidance of Ronovationz, she was able to successfully build a $6.5M+ portfolio in only the first 18 months of joining. Now she puts everything she has learnt and experienced into helping others to build their own personal wealth.