Jane Slack-Smith has recently been awarded the title of Australian mortgage broker of the year. She is the Director of Australia wide Investors Choice Mortgages and Founder of Your Property Success online education, Jason Penna recently had the opportunity to ask Jane some questions about her property investment success and how she helps others achieve their Property Investment goals.
1) Jane, you are the Author of the book Your Property Success with Renovation, which has been one of the best selling renovation books on PropertyBooks.com.au can you tell us what inspired you to write the book and if you will be writing any more books anytime soon.
“my book is a simple approach that allowed the typical Australian family to put $1million in the bank ” – Jane Slack-Smith
In my mortgage broking business Investors Choice Mortgages I consistently saw my clients believing that they needed many properties to achieve their financial income goals. I personally had developed a large portfolio based on a small deposit and using renovation as my strategy. So when Wiley’s and Sons approached me in 2012 to write a book I knew that I wanted to communicate a simple approach that allowed the typical Australian family to put $1million in the bank with just 2 investment properties. Your Property Success with Renovation: 2 properties, 1 renovation, $1million in the bank was the result. Although I feel I have another few books in me, for now they are still on the drawing board.
2) You now operate a very successful property investment education company – Your Property Success – can you tell us a little about this business and how you are helping investors achieve their dreams of building successful property portfolios.
“create wealth in residential property using low-risk techniques” – Jane Slack-Smith
I started as a mining engineer specialising in the application of explosives. As you can imagine every day I was assessing risks. I used this approach to develop my Trid3nt Strategy® and I built my company Your Property Success around teaching how it is possible to create wealth in residential property using low-risk techniques. My mission is to reach as many people as possible in sharing this strategy and showing how buying the right property in the right location with the right finance structure can assist the typical family in achieving their financial goals. My company provides loads of free education and resources as well as many online video courses which allow people to complete the course, with heaps of support through Private Facebook pages and group mentoring calls, when and where it suits them.
3) Jane you are a very successful property investor yourself what would you say has been your greatest property investment success and can they be replicated?
“The Trid3nt Strategy® gives me 3 ways to make money in real estate” – Jane Slack-Smith
I developed the Trid3nt Strategy® which essentially gives me 3 ways to make money in real estate, so even if I get one completely wrong I have a Plan B and C to fall back on.
The Trid3nt Strategy®:
- Buy below the market, to make money immediately
- Add value. I do this through renovation however some people develop, sub-divide add a granny flat etc. This creates money in the medium term and improves rental income
- Buy in an area with good potential capital growth. This allows you to make money in the long term.
I personally have done this many times, accessing the increased equity (which I have made available from those 3 sources) from the property and used those funds to buy again, and again, and again.
4) What sorts of property investment strategies are you using at the moment with your clients? are you focusing on renovations, duplex, granny flats, developments?
“Renovate where there is a large difference between the value of renovated and the unrenovated properties” – Jane Slack-Smith
My property investing strategy has always been about renovating properties where there is a large difference between the value of renovated and the unrenovated properties in an area and then using capital growth to continue growing equity. Many of my mortgage clients want a hands off approach and concentrate on a buy and hold strategy, others use Granny flats to improve rental income, so I am working with clients daily who are using pretty much every strategy there is. The important thing though is that they understand the risks of their strategy and make sure that not only the strategy selected will get them to their long term financial goals but they can minimise the risk along the way.
5) There are not may online courses for property investors but you have taken the challenge and build a very successful series of courses, can you explain what these involve and what sorts of investors they might suit.
“The flagship course is The Ultimate Guide To Renovation” – Jane Slack-Smith
There are many courses available through Your Property Success to suit home owners, investors and those who are still concerned about investing and somewhere in between. The flagship course is The Ultimate Guide To Renovation. It is a video based course that covers everything from how to set your goals, how to select an area to invest in, checklists to assist in assessing properties for renovation potential all the way through to how to strategically carry out a cosmetic or structural renovation to keep or to sell. So we go through step by step tutorials in the studio and onsite throughout the entire process.
We also have smaller courses that target individual topics like How to Undertake Suburb Due Diligence or even the Book Companion course that offers additional insight into Your Property Success with Renovation: 2 properties, 1 renovation, $1million in the bank. I have spent years in working out how to deliver the highest quality content in the best way so that people not only have the convenience of doing their study when it is convenient to them but they also can go back to the areas they need whenever they need it and they also have the Your Property Success community for support and assistance.
6) If our readers would like to connect or follow your movements, what is the best way for them to reach out? Facebook? Linkedin? Twitter?
For access to the complimentary Investors Invest Kit packed with tools, the Home Owners Your Home is Your Gold Mine free video series (as developed for and appeared in Australian Women’s Weekly Magazine) or to access our unique calculator that not only assessing your borrowing capacity but also then tells you where you can afford to buy and shows you properties on the market now go to www.investorschoice.com.au
For information of the various courses available through Your Property Success go to http://yourpropertysuccess.com.au/. Make sure you signup for the monthly newsletter. Each month I summarise all the property magazines and bring to you reports that are not available usually to the public. A great monthly market wrap.