Two’s Company – JV Deal
During the year two investors in Grant’s mentoring program joined forces and together they tackled a large renovation in the Metro building in Wakefield Street.
It was a large two bedroom apartment with a study and a carpark. This deal was quite interesting because the apartment had previously been the building manager’s apartment and office, so there was an extra space that opened into the lobby of the building and it had another entrance. Investors’ Cathy and Leigh were able to remove the odd opening windows from the office into the lobby to create a seamless wall on both sides and create a study area with two built-in desks.
The renovation was extensive, requiring new carpet, a full paint job, a new kitchen and appliances, plus a new vanity, a new toilet and re-tiling of the bathroom walls (floor to ceiling). It also got a new wardrobe with sliding doors and shelving in the laundry and new blinds.
“It was a large renovation project with some costs running over budget. However this paid off as it was only one day on the market before another pre-auction offer was made.”
The staging was only in the apartment for one day.
“I have been in the group for the last three years and have found the time invaluable. Grant is a great sounding board and someone who understands the highs and frustrations of property trading. I have also had support from other people in the group, sharing ideas, giving encouragement and sharing in the success of the team. This course has changed my career direction and my life – it’s been a blast. Thanks Grant.”
“I’ve been mentored by Grant for 2 years now and it’s great. I’ve learnt a lot and Grant’s support and availability is amazing.
Prior to the joint venture, I had done 3 trades on my own. The joint venture was a great opportunity to work with someone else in the group and take on a larger project than I would have been comfortable doing on my own.”
Plus I will share more apartment deals with you. Book now for my seminar on 21 May and you’ll find out how investors made a profit from Auckland Cash Flow Apartments and you can get bring a friend for free!
Your attendance at this event guarantees you’ll get a voucher for a free iVal Estimated Valuation Report worth $44.95 from Valocity. Plus I have 45 Tony Christiansen: ‘Race You To The Top’ (revised edition) books to give away. Tony’s life story is inspiring and his book is a great read and it’s full of tips so you can get the most out of your life.