Family man Michael is thriving thanks to the financial freedom HI RES gave him! Find out how…


– I’m Michael from Victoria, and I’ve been part of the HI RES programme for probably about 10 months, I think now. So I work in IT, I’m employed full time, I have two young boys. They’re now 13 and 12. Before HI RES, I was just
doing what everyone does, looking after the family, paying
the bills, working my job. I had a very serious incident with my health not too long ago, I was very lucky to survive that. Literally on my deathbed in
hospital filling out wills and stuff like that. I’ve been interested in
property for quite a while, and I’ve done a few
projects with mixed success. So I’ve known Ian for quite some time, but I’ve, you know, I saw the promotional materials for HI RES and the fact that it was
getting the group running. And I thought that’s a great opportunity to work with him directly
and leverage his expertise. There is a real need to cater for people who don’t have like, the full resources of a, you know, well-employed
professional couple, and the options for
them are quite limited, and this is exactly the sort of strategy which fills that need. (gentle music) I was starting fresh after a separation from my wife of 21 years. I have two kids and a job and just, and limited time and limited resources to finance the project. So I definitely took my time
to go through all the materials because there’s no point
in joining a course, and not paying attention to
what you’re being taught. I think for my personal situation, I needed to make sure that
the next project I undertook, the strategy was right, and the outcome was as sure
as you can make an investment. (gentle music) What gave me comfort
there was knowing Ian, knowing the way he operates, and what his goal is both
from a community perspective and from an investing perspective. I’d say Ian is very energetic, and he’s very straight-spoken, so he’ll tell you if something makes sense or if it doesn’t make sense. So this is a large family home in a nice suburb in Melbourne,
close to public transport. We’ve managed to rework the interior so that it fits nine bedrooms and one large shared living space with lots of garden around it. The house was initially
advertised at $800 per week. We rented it in the end for $700 per week, so that dropped our
initial costs a little bit, which is great. Set up costs on this, we
allowed between 40 and 45,000. We’ve come in at that budget. We’re looking at very conservative numbers which are based on feasibility, put the returns on the
property at about 2,000 a week. More detailed work that
I’ve done then indicates that we might push up closer
towards 2,800 per week, which means that we’re looking
at a cash-on-cash return of somewhere between, you
know, getting our money back within the first 12 months
or in a best scenario, maybe within the first 8 months. This is about doing it in a way which… creates good, supportive,
welcoming environments for the tenants, in such a way that they’re
really safe and looked after. And if that doesn’t, if
you don’t provide that, then you won’t be successful. So this is the first
time doing this for me. So first up is to understand
the process and be good at it, second to prove out that it works. (gentle music) I’ve learnt through life that you don’t… When people are prepared to
put themselves out there, to tell you what you need to hear, even if you’re not going to enjoy it, they’re actually working
really hard for you, and that’s something that I
really value in, you know, the people I associate with. (gentle music)

Leave a Reply

Your email address will not be published. Required fields are marked *