Student Success Stories

I just wanted to say hello and let you know how I'm getting on.  Since that one flat I bought while you were coaching me, I now own 4 of my own, co-own 4 with a business partner, own 2 houses which are about to be sold, and have now set up a new business in which I raise money with investors and the banks and we renovate and sell on.  The properties I now work with are large houses or flats in very nice locations in London, UK.  We also buy properties for other people and renovate them in the same way.

I love my job!  I still think of our conversations and how much you helped me and wanted to thank you again for all your help.  I probably own over £2.5 million in property now and it's continually rising.  I will take a salary this year--didn't do that before but that's because I did give up my day job to do this and just downloaded money and paid bills but now it's salary year. You can see my website below.

Sally H.
London, United Kingdom
www.propertytransformation.net

Since we last spoke, we purchased another 2 properties.  We sold 1 property and made C$95K within 2 months.  I think you have heard of the crazy Calgary real estate market since the beginning of this year...any one property went up by 30-40% in 6 months!!!  I wish I could have bought more, but I ran out of funds and it's becoming hair raising to manage my debts and mortgages.  I guess buying real estate is easy with readily available funds. 

To date, I have 3 other holding properties on rental, as the rental market have also picked up quite substantially.  We recently took possession of a property in a prime location (purchased just before the market went really crazy in April...and the seller wanted to try and rescind the sale).  That property was purchased at C$278K and is now valued at C$380K.  Adeline and I have decided to keep this property for redevelopment into a multiplex.  Meanwhile, I'm refurbishing some fixtures and walls in this wrecked bungalow to rent out in September (already tenant next door came by to see and wants to rent the whole house while I was cleaning the mess left by the previous tenant).

Many people saw the boom in Calgary's real estate and sparked the chain reaction of others wanting to jump into the bandwagon, even my Realtor and some friends.  These are some of the areas of concern for us and we are recuperating from the several transactions to date.  We did not flip the houses we bought but took possession and did some cleaning before we put 1 back into the market for resale.  As the market demand has cooled off in July/August since more listing are out, we are selective of the properties we want to buy...there are no more residential homes in Calgary below the C$200,000!!  I have this strange feeling that we are likely partly to blame for the recent crazy market...Calgary in history, has not seen property prices go up this high in such a short time!!  No one can believe their eyes...even my bankers regret not buying real estate.  My Realtor said you can blindfold yourself and throw a dart on a map of Calgary and it's as good a community to buy properties as anywhere else!!

Philip C.
Calgary, AB, Canada

Hello,

Things are going well.

FYI. House I bought during coaching:

Purchased $110K
Renovate cost $125K.
I have a contract on the house for $335K

House is sheetrocked; vinyl siding started.

Closing date Aug. 1 of this year.

People said, “Are you crazy?”

Your coaching gave me knowledge and courage to purchase.

I'm looking for the next one now.

Thank You,

Sonny C.
West Milford, NJ

Just wanted to let you know that we have closed on 2 apartment buildings. We paid 45,000 each. The previous owner owed 138,000 each. We have to split profits with partner that put up the money so conservatively speaking we have probably increased our own net worth by at least $55,000. I think we are on our way!!!!!!!!!!!!!!!!!!!!!!

Lisa D.
Liberty TWP, OH

We thought you might like to share in some great news - something that clearly would not have happened without your input, encouragement, and patience (after 3 months of coaching I'm sure you must have wondered at times if we would ever get started and do something!).  Well, we're on a roll, and with the goal to purchase 5 properties by June, we are now well on the way.

Two of our offers have been accepted and our new property investment group is now the owner of two homes in Grantville.  As you know, this area has gone up 20% in the last 12 months and while it is expected to go up 35.7% in the next 12 months, for our figures, we have only worked on 30% in the next 18 months.

Third, and if that wasn't enough, yesterday we took your advice to look in Melbourne's Wild West.  We now know the two suburbs we want to purchase our next property in--but more on that in our coaching session on Friday.

In case you hadn't notice, we are EXCITED!!  I asked you a week or two back, how many of your students succeed?  Your answer along the lines of 98% of those who put in the work really stuck in my mind.  We put in the work (not as much as we thought we would have to) and we started to believe we could achieve what we set out to do.  You were there encouraging us and providing options, lots of options.

A genuine, huge, thank you to you personally for all your input so far.  We look forward to our next session on the "when, where, and how" of our next three properties!  A big thank you to the team behind you at Prosper. We appreciate that a major part of freeing you up to what you do well, is to have the right backup and support. Please pass on our appreciation to all those behind the scenes who have helped us, whether they know us or not. We chose your U.S.-based property investment program over a cheaper local one, mainly because we see long term we will be investing in countries beyond our shores, such as in the U.S.  We are very happy with the decision we made and know it will pay great dividends long term.

Helen & Howard M.
Cowes, Victoria, Australia

We purchased a foreclosure property in Falmouth on December 10 for a purchase price of $185,000. We used a hard money lender, which everyone thought we were crazy, but he financed 100% for us (unusual). We started to rehab the property, replace windows, siding, flooring, kitchen and baths.

While talking to our friends we came across a buyer. We showed them the property on December 21 and on Christmas Eve we agreed on a sales price and had them sign a purchase & sale with an earnest deposit, and a closing within 30 days. What a way to start our new future with investing in real estate.

We bought the property for $185,000 and sold it for $295,000. Once everything is finished, paying the investor and finishing the project, we’ll have profited between $35,000 - $40,000. Not bad for our first flip! Now we’re off to try another.

Thanks for everything!

Sean & Kim W.

East Falmouth, MA

First I want to thank Prosper and my coach for being completely knowledgeable in teaching me the foundations that made this transaction possible.  I found a foreclosure going to auction within a period of 1 month.  The property was quit claimed to the son to take over possession of the home, to turn around and sell giving the profits to his 3 siblings.  It was put up for sale but in its poor condition, it didn’t sell.

During this time one family member put a lien on the property to justify that once the house sold, the siblings would get their share which amounted to $40,000 each totaling $120,000.

We were able to negotiate the $40,000 down to $20,000 for each sibling and the remaining loan on the property was $95,000. The amount owing was $175,000.  We then found an investor who bought the property for $275,000, put up 10% down and got the down back upon closing + $10,000 bonus for going on title which also came out of the equity.  The net was around $100,000 giving enough to rehab the house and put money in our pocket.  Rehab was $15,000 and together with the $275,000 makes the amount owed on the property $290,000.  The property will be sold for $350,000 making an additional profit of $50,000 with actually no out of pocket expenses.

The transaction went very well and now onto our next venture.  Again, I am indebted to Prosper for making available the knowledge to be able to do this transaction and for walking me through all the different possibilities.  I was in very good hands and appreciate being a part of Prosper.

TN
Long Beach, CA

I started by looking for distressed properties and motivated sellers so I would find the best deals.  After finding 3 prospects, I contacted the owners to access the properties so I could make offers.  I quickly found out that making offers is fun, but takes skill.  I asked my coach to break down the process and off I went.

I made 3 offers but, one property stuck out.  It was a foreclosure bank owned property worth $200K, but it was listed for $162.9K.  I made an offer of $155K and 6% closing cost.  They countered with $160K and 3% closing cost.  I evaluated the numbers and because it made sense, I accepted the offer.

I started this real estate investing course and my coach has made all the difference in my quick success.  He made sure we discussed each step I took every week.  If I encountered an obstacle or road block, he would guide me through it.  He offered simple solutions and resources to make the process easy.

For example, this property was bank-owned and very different than dealing directly with the owners.  I was a bit intimidated, but Prosper taught me how to evaluate the property for repairs and profit, and make the offer and negotiate confidently with the Realtor who was not very cooperative.  We didn’t close on time and I had fallen out of contract.  I didn’t know what to do so I contacted my coach.  Due to his advise, the Realtor realized I was not alone and someone very experience must be helping me because I was on top of my game.  She granted an extension on the contract and that advice saved my first deal.

I did exactly what my coach told me to do step by step and I closed on my first investment property with a PROFIT of $40,000.  This course is well worth it. THANKS PROSPER.

L.A. G.
South Holland, IL