“Ugly duckling to wealth-creating swan”
Property Wizards helped home owner Travis Stead* turn his 1960s home into a modern, open-plan rental-ready property – and more than double its value in the process!
“Property investment helped me increase my wealth and the Property Wizards’ system of buying has accelerated it exponentially.”
I was born in New Zealand, but after living in London and travelling around Europe for a few years, when it came time to return home, I decided to move to Australia. After trying Melbourne for a while, I settled on Perth – 20 years later, I’m still here!
I wanted to buy a house by the time I was thirty as I wanted to set myself up for the future. Even back then I knew that I didn’t want to be reliant on the pension to sustain life after retirement and superannuation wasn’t compulsory. Having a background in building, I decided to use this as a vehicle to ensure my fear of growing old and having nothing was eliminated. I would create wealth in a familiar environment.
I have a passion for renovations and my nomadic lifestyle lends itself well to buying, renovating and moving on. I love the challenge and seeing the results, and the regular change suits me.
I discovered Property Wizards a few years ago, which has been fantastic. Using their systems and processes I have already bought two properties and will continue to buy more. It has been great working with them as they are focused on my goals, they keep me focused, and ensure all the research is in place to make sure I get a good deal. Because I can get emotionally caught up in the property I don’t look at all the nitty gritty details. Working with Property Wizards and learning how they buy property ensures I get value for money, while taking advantage of any loopholes in the systems. I am like a kid in a toy store. I just want to buy everything.
The first property Property Wizards uncovered was 10km from the CBD, close to shops, parks and schools. It desperately needed renovation – just what I wanted. It was on the market for $25,000 under value and within 24 hours I bought the property for another $10,000 less. This property had something more than those I’d done before – it could be subdivided to create a two-unit site, while retaining the home, and enabling a very big gain in value.
The house renovation included:
- Removing a feature wall to open up the lounge and dining area
- Installing a new ceiling, renovating the kitchen and expanding its bench space
- Transforming the pink bathroom into a modern, white one
- Laying new carpet in the bedrooms
- Adding built-in wardrobes and cupboards
- Replacing the roof tiles
- Building a new patio
From there, the block was subdivided after the pool was removed and retaining walls and fences put in.
After the renovation and subdivision, the property more than doubled in value. The front home was worth more than $100,000 over what I’d paid for the whole property and the back block was worth another $230,000.
Property investment helped me increase my wealth and the Property Wizards’ system of buying has accelerated it exponentially.
There is no way that I would have been able to achieve growth like I have if I had continued with a normal superannuation fund and I certainly wouldn’t be sitting very as comfortable as I am upon retirement.
“Property investment has provided me with a very comfortable lifestyle, and when I choose to, I’ll have a relaxing, enjoyable retirement.”
Travis Stead (*name changed at client’s request)
Goodbye 1960s feature wall!
Hello modern, open-plan living!
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