How they made over $1 million in 10 weeks
James was suspicious…
James Blair is a financial adviser at Lighthouse Financial and he kept noticing something unusual.
One after another, his clients who worked with Wolfe Property were reporting exceptional results.
After months of watching these deals come through, he finally picked up the phone and called Ilse.
“Can I ask you something? Are these deals real?”
Ilse was taken aback. “Of course—why do you ask?”
James explained: “As an adviser, we’re trained to assume if something looks too good to be true, it probably is. But all of these results look incredible—and I’ve never seen anything like them before.”
That conversation changed everything. A few months later, James and his colleague Mike Vincent joined Wolfe Property as Boardroom clients.
Soon after, Ilse brought them an off-market opportunity in the Wellington region that kicks their journey off
Property details:
🛏️ Configuration: 6 Duplexes
12 x 1 - bedroom units
💰 Purchase price: $2,400,000
How did we Cashflow Hack this?
The beauty of multi-units is there are multiple ways to add value.
Because they are valued using commercial valuing techniques, the key driver to increase value is by increasing the rental income.
In this property the way to increase the rent was to improve the quality of the homes.
Before photos
Renovation scope
This was a cosmetic renovation across all 12 units - total spend was $327,000.
Or $27,280 per unit.
The renovation only took 10 weeks.
After Photos
The results
The post renovation valuation was complete and James and Mike were staggered with the results.
Original Rental Income:
$220 per unit per week
$137,280 per annum
Renovation:
$327,360
Total Investment:
$2,727,360
Post-Renovation Rental Income
$471 per unit per week
$293,904 per annum
Increased rent by 114%
Gross Yield (rental income / total investment)
10.7%
New Registered Valuation
$4,140,000
Net equity gain
$1,412,640
James and Mike from Lighthouse with Ilse Wolfe - happy with deal that made them over $1 million in 10 weeks
What did they do next?
This was project was late 2024. Since then they have gone on to buy two more blocks of units with the Wolfe Property Power Teams.
They have gone from 0 rentals to 38 rentals in less than 12 months…
What will your story be?
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