4 Properties By Age 25 And Now A Developer

Matt Cosgrove, 25, who lives in Roma, approximately 480kms west of Brisbane, has two new property builds already under his belt, and two developments underway that he expects to net him more than $350,000 in twelve months.
 
But just two years ago, Matt was working in an office and his life was very different. “I was trying to show initiative by putting forward all these ideas to my managers, coming up with reports and documents to show them how they would work. But they just weren’t interested and said I should focus on my work otherwise my career wouldn’t go very far.  To say the least, that made me pretty angry! I basically hit a snap point.”
 
Breaking Free
 
Matt’s frustration led to an epiphany as he realized that “there is a better way of making money, one where my own initiative and work can be appreciated.  Plus, I liked the idea of not having to turn up to a job and being able to do whatever I liked during my time on this Earth.  That same day I went to a bookshop and bought a property-investing book.”
 
The initiative and research skills that had gone unappreciated at Matt’s workplace suddenly found a focus as he educated himself about the potential pitfalls of property development. Matt has a degree in environmental science, but he believes that anyone can teach himself or herself to be a successful developer. “You do not need a formal education but I would suggest getting educated in property otherwise you will stumble and learn the hard way after losing money.  
 
“The best learning experience is just getting in there and start doing it, but go in there armed with knowledge so you can avoid the showstoppers and the money pits.  Buy as many books as you can and read them. Nothing ever goes by the book, but by teaching yourself you are well prepared for whatever will come your way. Being forewarned is being forearmed.”
 
Invest in Yourself
 
As well as being an avid reader of property investment books, Matt is a keen advocate of seminars such as Reno Kings’ Developing for Profit. “Go to as many seminars as you can and learn; talk to people who are doing similar things that you want to do. Everybody I have met has been very friendly and happy to share their knowledge.”
 
Matt acknowledges that the cost of a seminar can seem like a big financial outlay but he points out that “a $3000 seminar is a lot cheaper than a half million dollar stuff-up. When people said I was wasting money I didn’t care; those same people now are asking me how I am doing it.”
 
There are many people out there who dive into development without really understanding the risks. “I can’t understand for the life of me why people are willing to give up their hard earned cash on something they know very little about.  You don’t see people becoming engineers without getting an education, do you?” But do it right and the rewards can be enormous. As Matt notes, for most people stuck in a job that they find frustrating, however well paid it might be, “their wage or earning capacity is nothing compared to what property development can offer.”
 
Learn from the Professionals

If you want to stop being a wage slave and start enjoying a steady income from property investments, join us at the next Reno Kings’ Developing for Profit Workshop in Brisbane on 5^th and 6^th June 2010.

To read more on Matt Cosgrove's amazing story, Click here.