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Last week I was assisting a client with her dual occupancy construction finance. We have Development Application (DA) and Construction Certificate (CC) consents and the builder has issued their Building Contract. The bank now has all the documentation required to unconditionally approve her construction finance.
They had conditionally approved her loan a few weeks earlier after verifying income and assessing serviceability and all the other stuff they do after you sign a mountain of loan docs. The next step was for the bank to value the two dwellings and then they could finalise the construction loan.
Her bank did an "As if Complete" valuation. This is also known as a Tentative on Completion valuation. It's when the bank value the project before it's constructed but based on how they think it will be completed.  lf it's more than one dwelling - a dual occupancy or multi unit project - they look for a value of the property '"in one line". This means not subdivided. If the bank had to sell the dwellings all on the original title, what would they get for them?
The number one, massive, biggest, fattest, most frustrating issue with this type of valuation  is that there are generally NO sales references. Who in their right mind would sell in one line if given the choice of making far more profit by subdividing?
When there are no sales references in one line, it is up to the valuer to determine how they discount the end values if the dwellings were on their own title.  Valuers must take legal responsibility for their opinion. The valuer needs to cover themselves in the instance that the bank may need to fire sell the properties together on one title of land.
The process of subdivision after building works are complete, whilst not complicated, can take a number of months to get to the registration stage. Yet the builder's final payment is due on completion of construction.
The Australian Property Institute publish a very interesting document on valuation standards. It's 395 pages long. That's how complicated the valuation process can be.  It covers valuations for different purposes such as market, mortgage and loan security, rating and taxing, for compulsory acquisitions, for assessing rental value, for property plant and material, for insurance purposes and to use in financial reports. 
In this instance due to no direct sales the valuer will possibly use a gross realisation of the dwellings assuming they are subdivided and on separate titles and then deduct a profit and risk factor, holding and selling costs to arrive at their valuation figure. 
They may also take into consideration a capitalisation of the gross income and use an acceptable market capitalisation rate or cap rate. 
In my opinion, without actual sales references of properties sold in one line, the valuer will be super conservative in their calculations and hence, a low On Completion valuation may be received. This is one of the perils of construction finance and so a buffer of cash should be put aside in case the construction loan requires supplementing. 
Applying for and then finally receiving approval of, construction finance can be one of the most lengthy phases of a development project. It can take longer than obtaining the DA consent and in some cases, has taken longer than the construction phase itself!  So be careful to allow, not only enough extra funds, but also time for your construction finance.
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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The complicated process of valuation: Jo Chivers

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Over the years I've refined the fittings and fixtures that we include in our villas. When we first started off many years ago, we'd just run with the basic builder's range.
When I look back on the fittings in the basic builder's range I'm horrified. You see, the basic range is usually selected by the builder. The builder is very good at building homes but may not have a very strong sense of style. Large building companies will usually employ interior designers to make selections but if you are using a smaller building company, double check their fittings and fixtures.
I remember on one build, after the timber mould out stage, (when the skirting boards, architraves and internal doors are hung) I arrived on site for my inspection. Walking into the villas I saw something bright and shiny in the corner of my eye. I turned to see gold hinges on the door. We'd chosen matt chrome door handles and I asked the builder about these brass hinges. His reply was "they are the best quality hinges you can get, Jo".  It didn't cross his mind that they didn't match in with the door handles. 
Some small changes to items like tapware can make a massive difference and not even cost any more. It's all in the style of tap. A builder's range tap may be functional but not necessary pretty. If you ask your builder who his plumbing supplier is, a quick visit to their showroom and I'm sure you'd find a nicer looking tap for the same price or a higher end range that may be on sale.
The vanity is the focal point of a bathroom so look at what is available in the builder's range. Often you can add a coloured or timber look base to the vanity for no extra cost and tie in the colour with your tile scheme. A wall of feature tiles can really add impact, but make sure it's not overkill if it's a small bathroom.
Lighting is another area that adds to the style of a room.  We try to avoid boring oyster lights. It's amazing how far the humble oyster light has come. Ask the electrician where he gets his lights and again take a look at what's available. Energy saving downlights give good light and are not that expensive and if you add two pendant lights over the kitchen then you will immediately give the kitchen a higher end feel. Add bulkheads above the overhead cupboards for a clean look. 
Ceiling fan with lights to the bedrooms are usually well received by tenants and buyers and not that much more.
Don't forget the front door lighting, by adding a couple of stylish lights you're creating a good first impression.
Look at a slight upgrade to the kitchen rangehood as this adds more dimension to your kitchen.
I like to use a gloss floor tile in the living areas as it reflects light around the room and has a more luxurious feel.
Finally, give the front façade something that will increase its appeal. Aluminium timber look garage doors are only slightly more than standard colours. Upgrade the front door handle to an oversized handle and combine it with a nice metal plate with the street number  to give a glamorous entrance.
Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Small upgrades that give big impact: Jo Chivers 

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With each property development we manage, we'll fine tune the process so that on the next one, we'll do something a little differently to improve the results. 
After completing over 80 developments, our process has become pretty refined. But there is always something we can improve on. 
Sometimes they are just small tweaks that can make a massive difference. This particular example I'll share with you shaved literally a month off the planning process.
At Property Bloom we work across a number of different councils and each council has their own way of looking at and processing a Development Application (DA). It can be easy to make assumptions based on past experience. 
So when we started working in a new location that fell under a council we'd not yet worked with, we assumed they'd review our plans in the same fashion as the other councils. The first few DAs (all assigned to different town planners) were processed within about 7-8 weeks on average. This is a lot longer than we liked but still not as bad as another council's processing times. It fell somewhere in the middle of our best and worst processing times. 
The time your DA is in council is dead time, there is not too much you can do whilst you wait for the consent in case changes need to be made. We tend to use this period to choose material and colours.
Even after working with some councils for ten years, it will come down to the individual town planner who is assessing your DA and what they like to see marked on your plans. If they request 'more Information' then your DA is put on hold until they receive a response.  
This particular DA was assigned to a planner we'd not yet worked with at this council. We received a letter requesting more information on off street parking locations. The plans detailed a single garage for each villa. The requirements are to provide two parking spaces. Obviously one is in the garage - but here's where our assumption kicked in -  we thought the planner could 'see' that the second space was on the driveway as a stacked or tandem parking space.  
We quickly marked this on the plan and immediately sent it to the planner, and within three days we had the DA Consent on our desk. This set a record of processing time with this council - four weeks, down from eight weeks. 
It goes without saying that this was added to our list of what to include on the plans and we made a mental note never to assume. We are now a month ahead of schedule and our client is happy to save time and holding costs.
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Drop assumptions and save time on your planning process: Jo Chivers

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So you’ve decided it’s time to embark on a property development. Great stuff – you’ve made the first of many, many, many decisions for your exciting development journey.
So here are some more decisions to make.  The very first question you’ll need to answer is, ‘what is your development strategy?’
It’s a good question that only you can answer but it also leads straight into a whole list of more crucial questions:
1  Budget – cash available and how much can you finance?
2  Risk profile – do you have a low or high tolerance for risk?
3  Time – how much time do you have available to run your development?
4  Knowledge – do you understand the different development processes?
5  Skills – project management, negotiation, communication, patience 
Once you have answers to the above, you can then work out your development strategy.
Your strategy may include:
<ul>
<li>Land Subdivision</li>
<li>Renovate and add value to an existing dwelling</li>
<li>Dual occupancy or low density development</li>
<li>Renovate an existing dwelling and also build new dwellings on the land</li>
<li>Medium density development</li>
</ul>
The development strategies above will all have a different impact on your crucial questions.
Let’s start with Budget. If you are on a low budget then you may choose a house renovation. For this strategy you’ll need to have lots of question 3 as house renovations can be very time consuming.
If your budget is higher, then you may choose a low or medium density project. This choice of strategy will mean you’ll need a high tolerance for number 2 and lots of number 5.
Whichever development strategy you choose; you will need some help. Now it’s time to put together your team.
Who do I need on my Development Team?
<ul>
<li>Property Specialist Accountant &amp; Solicitor</li>
<li>Finance Broker or personal banker</li>
<li>Surveyor</li>
<li>Architect/draftsperson</li>
<li>Builder and other tradesmen; plumber, electrician, carpenter, landscaper</li>
<li>Consultants such as an engineer and private certifier</li>
<li>Quantity Surveyor</li>
</ul>
And if you are short on crucial question number 5:
<ul>
<li>Development Project Manager who will guide you through the entire process</li>
</ul>
Congratulations, you have now answered the crucial questions, decided on a development strategy and built your development team. The next step is to find your development site; you’ll find this raises a whole new series of questions. Have fun!
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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5 crucial questions to answer before starting your development: Jo Chivers

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Christmas always puts a deadline on things. For Property Bloom this year it's completing four development projects before the big man with the white beard arrives.
Of course our builder and all their tradies are under the pump at this time of year and our job as project managers really comes into play.
Our goal is not only to have the dwellings completed with Occupation Certificates (OCs) issued, but also tenanted before Christmas. And I've found a way to achieve this.
It's called supporting your site manager.
Rather than micro manage our site managers which just drives people crazy, we try to help them by giving them a hand. They feel supported and at the end of the day, we are all on the same team striving for the same result: Happy clients.
Here's an example. I'm doing two Practical Completion (PC) inspections this week and I have a tool I'm going to take along that should help. It's a bottle of Spray and Wipe.
Because we are pushing the process, we'll often get asked to move the PC date so they can be completely ready. But I don't want to give our builder another few days. Because right now, we literally don't have them.
We want tenants settled in before Christmas, we need the properties to look their best because on the same day we do our PC inspection, our appointed property manager will be taking photos and uploading the properties onto the Internet. This way we can advertise for tenants during the PC and Handover period.
The Handover period is the time after PC when the builder has seven days to complete any outstanding items we've picked up and before the bank pays the builder's final drawdown. Once the builder receives their payment, they release the keys to the owner and the dwellings come off construction key. That is literally the Handover date and of course a tenant can't move in before Handover.
Once asked to pay the final invoice, the bank typically take about a week, sometimes longer to send their valuer to check construction has been completed then transfer the money to the builder.  Before they release the final payment, they will have conditions such as receiving a copy of the OCs, and a copy of a building insurance policy in the name of the owners. 
This week or two is valuable and we use it to show potential tenants and hold open homes. We can do this because we have a great relationship with out builder and they will allow access BEFORE Handover. That's pretty unusual for a builder. But it means tenants are lined up as keys are handed over, which results in zero vacancy time for our clients.
So back to the PC inspection. My theory is that we set a date for PC and we do all we can to get the project to that stage. By having a deadline, more action is taken. I've found that there ends up being only minor items to attend to if any at all, because the site manager has done all he could to meet the deadline.
Short of bringing a pair of white gloves, I am fussy at these inspections. But some things just need a bit of elbow grease. So the bottle of Spray and Wipe comes out and we can clean the spots as we go through the property. It's so much easier than adding it to a list and having to wait for cleaners to come back. Of course I do draw the line at mopping floors, but small marks can easily be removed along with the fine layer of dust that always seems to settle on the kitchen benches a day after the construction clean is done.
I'm looking forward to Christmas this year but there's still a bit of work to be finished before the champagne is poured and prawns are peeled. 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Countdown to construction completion: Jo Chivers

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I was interviewed for a great story in one of the property magazines, the article was called Keep and Reap and it examines the pros and cons of holding onto property after you finish developing it.
One of the biggest things to consider before you start a development is entry and particularly exit costs - if you are developing to sell.
Around the same time I received a call I had from a guy called Dave.  He said ‘Hi Jo, can you help me with a dual occupancy project’.  To that I replied...’sure Dave, we’d love to. Tell me a bit about your strategy and what you are hoping to achieve from a property development’. 
'Well, my wife and I want to turn over a few developments, you know...complete one, sell and then use the profits to go again. Our aim is to use the proceeds to pay down the mortgage on our principal place of residence and keep investing’.
Dave certainly has a very good plan. As property development project managers, we are not qualified to give accounting or financial advice, but what I do like to check with anyone making this kind of enquiry is that they understand what selling or exit costs are involved.
Dave said he understood there’ll be agent’s selling commission and marketing costs to sell the new villas, we might have to pay some Capital Gains Tax and that’s it I think’. He said.   
My reply...’Are you sure Dave?’
If you take a look at the exit costs, then you may think twice about selling on completion, especially if it’s a small development like a dual occupancy.
In the Hunter Region of NSW where we manage developments for our clients, we can typically create around one hundred thousand dollars in equity on a dual occ project within twelve months. This sounds like a lot of equity to create and it is...if you are holding the properties you’ve built.
By holding on completion you'll not only get the benefits of depreciation and higher than average rental returns (everyone loves to rent a brand new property) but some clients choose to refinance and by doing this they can access some of the equity that’s been created through the development process.
But, if you are looking to sell on completion, then there is a whole list of costs you need to consider.
The big one is GST and as I explain this to Dave, I highly recommend he checks this out closely with his accountant.  GST is applicable when you sell new property, so Dave would need to ensure he pays 10% of his selling cost to the government. If he is not registered for GST, he can't claim back the GST he's paid over the life of the development so he's essentially losing 10% on his sales. However, if he holds the properties for five years, they are no longer deemed new and no GST is applicable.
Finance costs are another cost to consider. Dave needs to check with his lender what fees and charges may be applicable when he sells, these may include a prepayment fee, settlement fee, early exit fee or Government mortgage discharge fees.
There will be legal fees for your solicitor to prepare Sales Contracts and manage the conveyancing for you.
In some instances, Land Tax may also be payable on a property that is being sold.
Then of course, the sales agent's commission, marketing costs and perhaps auctioneer costs.
Also consider the holding costs. During the sales process you probably won't rent the villas and they'll be sitting empty on a fully drawn construction loan.
One of the advantages to holding and renting the properties on completion is that the interest you pay during the development process is tax deductible. However, if your intention is to sell on completion then you lose this important deduction during construction but also during the selling period.
I recommended Dave have a meeting with his accountant to make sure he understood the implications of selling.  A few weeks later, he called to tell me he's switched strategy and wanted to hold onto his properties. One of his reasons was to take advantage of the higher depreciation benefits and he wanted to build a property portfolio. His accountant showed him just how much income tax he could save himself as he was in a high tax bracket.
It wasn't long before we had found him a great site in Newcastle with a potential gross yield of 7%. This strong yield will make it easier for Dave to hold and continue on his property investment journey.
By going through the exercise of weighing up the pros and cons of holding, it helped Dave realise that if you are going to the trouble to develop property in the right location, you may as well hold to reap the immediate and future rewards. 
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Is it really worth selling on completion? Jo Chivers

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Last week one of my project managers used an interesting story to illustrate a point about being patient when developing property.    
Rich is a country lad brought up on a farm in rural NZ… no it wasn’t a sheep station. Lucky for me, he decided to ‘cross the ditch’ and settle in Australia to make his fortune in developing property in the Hunter Region of NSW. He was working with one of my builders when I discovered his expertise. It was some time later that we ended up working together. 
The message from Rich’s story was simple – “Pushing too hard at the wrong time can cause problems rather than solutions.”   
The message came about whilst discussing how we could fast track lodgement of a particular Development Application.  As project managers I knew we were doing all we could.  I also knew that the other people involved; our builder and engineering consultants, were too.  We wanted to illustrate this to our client.  And then Rich sat down with a steaming cuppa in his hand and spun me a yarn.
I thought I’d share his tale because it made sense, even to a city gal like me.  Hope you enjoy it as much as I did...
Rich:  On the farm we never had a dog to move the cows into the milking shed. But our neighbours did and they were always in a hurry to get the milking done for the day. One day I asked Dad; “Why don’t we have a dog to chase the cows like our neighbours?” 
He responded by saying, “Son, when a dog chases cows, by the time they arrive at the milking shed, they’re all nervous and tense because that dog has been snapping at their heels, barking and generally causing them grief. Because of this, those cows never milk for long and as a consequence, they don’t produce much milk.”
Rich explained that what those stressed out cows did was to produce a lot of crap. The cow manure mounted up quickly and ended up covering the shed while they stood waiting to be milked.  
The neighbours with dogs always finished milking earlier than us, but spent more time cleaning up their milking shed at the end.  They produced very little milk. 
When it was all washed up and done, we always finished around the same time as the neighbours. Although our cows milked longer, we had less to clean up and we always produced a lot more milk. 
Relating this back to our property development situation, the bottom line was if we did things properly and not rush the procurement and planning stages of the process, the delivery and close out will move along smoothly and end up producing a better, more profitable ‘on time’ result. 
My take out of Rich’s yarn: There are times for snappy dogs, but use them sparingly and intelligently. 
Property Bloom understands the need for speed, as do our builders.  At the end of the day we all want to complete the project quickly.  But what we really want to ensure is a development that is well planned, delivered efficiently and on budget - and hopefully with very little crap to clean up at the end!
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Milking the property development process: Jo Chivers

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Property Bloom has been developing property in New South Wales Hunter Region for almost fifteen years now and it still amazes me the sheer potential this region has to offer. 
As we near our one hundredth property development, I took some time to reflect on this magnificent region after some light bedtime reading I came across this week. I've shared some of these research links with you.
The Hunter Region has everything going for it; beautiful environment, awesome beaches, fabulous mountain ranges and bush settings, wineries, diverse economy, dynamic industry, vibrant restaurant scene, affordable housing and amazing people and community. It continues to reinvent itself and there is now great focus on making it an information technology and professional services centre. 
Did you know that the Hunter is the first Australian region to measure it's innovation performance on a world scale?  
Measurements included:
Introducing new or significantly improved methods and processes Introducing marketing or organisational innovations Innovative businesses collaborating with others  Businesses innovating in-house
You can check it out <a href="https://rdahunter.org.au/initiatives/2014-hunter-innovation-scorecard" target="_blank">here</a>.
This week the NSW Government released its new twenty year Draft Plan for Growing  the Hunter City and it confirms all that I hoped for and more.  Hunter City is defined as ..." the metropolitan area extending from Toronto and Swansea in the south to Raymond Terrace in the north and from Newcastle Harbour in the east to Lochinvar in the west. It has emerged from the expansion of Newcastle and its surrounding towns and has a rich history and strong growth prospects for the future." 
It has identified Newcastle or the Hunter City as they've coined the area, as Australia's next major city. Of course Newcastle is already a Australia's seventh largest city by population according to population experts 
When you are researching an area in which to invest in, then reading these types of government plans is key to getting a real feel for what is planned for the area. 
The draft plans released identify visions, goals and actions that will guide the strategic planning of the region over the next twenty  years.  They aim to:
<ul>
<li>protect the region’s most important asset, the environment</li>
<li>grow and diversify the economy to create local jobs</li>
<li>create thriving, liveable centres</li>
<li>deliver greater housing choice</li>
<li>in collaboration with councils, establish a committee to drive the coordination and delivery of the actions in the Plan. </li>
</ul>
The public have been invited to have a say in this direction and you can do that here: https://www.planning.nsw.gov.au/hunter
 Maybe Property Bloom will be celebrating our century of property development sooner than expected, based on what I read about the plans for Australia's next major city; Hunter City. 
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>. 
 
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Where is Australia's next major city? Jo Chivers

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If there's one thing I've learnt from developing property, it's that you definitely need a 'can do' attitude.
This week, I've come across so many 'can do' people that it's inspired me to write about them.
So what's the definition of 'can do'?  It's basically, when everything goes to shit and things seem totally not doable, then a person with a 'can do' attitude always finds a way.  So today, this goes out to the many people who've I've crossed paths with and who've reminded me of how we really can achieve anything we put our minds and hearts to.
Meet Bob from Port Macquarie, he's an older gentleman who has been emailing me for the past five years on and off. Every now and then I'll get a message from Bob. He may be responding to one of my Property Observer stories or our newsletters, but he always asks different questions. Well, this week Bob decided to take a big step and to be the property developer he'd wanted to for some time. His purpose?  Well, it is to use the equity he creates to help his daughter buy her first property.
Then there's my step daughter who rang me today to tell me that whilst planning her thirtieth birthday party she'd also set herself the goal to buy her fourth investment property by the time she turns thirty. Her birthday is in May 2016 and my heart sang as she described the type of property she's looking for.  Go girl, you have the 'can do' attitude.
This goes out to a dynamic young couple who called my just a week ago and who were so focussed they made calculated decisions to be able to secure their development site within a week and are now Property Bloom clients. They explained they have their sites set on building their wealth quickly and they've asked me to find their next site soon. Did I mention they also have seven dual occupancy projects underway in Queensland?
This goes out to my little brother who celebrated twenty-five years in the NSW Police Force this week and whom I proudly watched being awarded special things from Commissioner Scipione. His focus and hard work has seen him rise through the ranks, raise a family and build their dream home.
This goes out to the client who was recently turned away from the four big banks, despite being on a $300,000 plus salary because of the ridiculous changes in their serviceability calculators. I referred him to Rams who more than welcomed his business and gladly offered him the finance he wanted for his development project with Property Bloom.
This goes out to my project manager who after approaching many lenders has used creative strategies to source finance for her first development project.  She has drive and determination which comes from her desire to become financially independent.
This goes out to my builder and the amazing staff who always use the 'can do' attitude which means we'll be completing many of our development projects before Santa arrives this year.
Finally, this goes out to all of you reading this who refuse to let life's ups and downs stop you from driving forward with your goals and dreams. You all have the 'can do' spirit. As the famous Walt Disney said "If you can dream it, you can do it." 
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Keeping a can-do attitude in the property game: Jo Chivers

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For those of you who follow my writings (I am grateful), you may be aware that I started my property journey 14 years ago.
Lately, I’ve been reflecting on what’s happened over that time. It’s nice to allow time to remember because life can be so hectic.
14 years ago I purchased my first investment property. I had purchased two homes (principal places of residence – PPRs) before then but one of them hardly counts.
I’d bought a house with a boyfriend who decided a few weeks after we settled on the property and moved in together, that he wanted to ‘explore’ a relationship with an old flame.
Well that went down like a ton of bricks!
Here I was working crazy hours in a product manager’s role, studying at university three nights a week and just invested all of my hard earned savings into a home with someone now thinking the grass may be greener elsewhere.
Needless to say I ‘asked’ him (very loose description) to move out, giving my blessing for his so called ‘exploration’ project. I then put the house up for lease and moved home to mum and dad – thank goodness for parents.
After a couple of years, I sold my 50 percent share to him, recouped my savings and promptly used them for a deposit on my second home, bought with a husband this time. I’m still living in this home and it has served us well.
Back to my investments…it all started when I was pregnant with my first son and picked up the book Rich Dad, Poor Dad by Robert Kiyosaki. This was life changing for me and literally a light bulb moment.
I put the book down, booked into an intensive property educational course and whilst studying, working, pregnant and highly motivated, bought my first investment property. It settled around the same time my beautiful son was born and I couldn’t have been happier. I was now a property investor and a mother.
This led to buying four more within two years. Sydney was in a growth phase – it was 2002 - but still property seemed very expensive, pretty much like right now! I quickly learnt that whilst the properties were increasing in value, the yields in Sydney were decreasing. I needed cash flow and the properties I’d purchased were negatively geared. Not bad for my tax returns, but still draining.
I’d already started researching large regional areas outside of Sydney where properties were cheap, rents were strong and land size large. I purchased a property, renovated the house, added two dwellings and subdivided it. Now I was a property developer as well as an investor.
I loved the idea of adding value and creating equity, rather than passively waiting for growth.
This led to my property development project management business; Property Bloom. I had two friends who saw what I was doing and wanted me to manage a development for them. And so I started a system that I’ve never stopped refining. My first two clients/friends lead to many more and now I’ve developed over 100 properties for happy investors who wanted to take their first step into property development but needed some help.
What else has happened?
I had another beautiful son 9 years ago. This was interesting times with a little baby and a 6-year-old to care for and a growing business to run, I worked harder than ever. There was no napping when the baby slept, I’d jump into the office when he napped during the day and work into the nights. I was tired but determined.
My determination came from watching my parents retire on very little. There was no Super in those days. They had some money from selling the family home and downsizing to a sea change location but had to rely on pensions. No grand world trips to celebrate years of hard work for them. They were still happy, but had less options. I wanted a lot more for my retirement. I wanted the freedom and options that comes from having money.
My property portfolio appreciated and my business grew. I felt I was finally building wealth. Then, 3 years ago the worst thing happened.
After almost 20 years, my marriage crumbled and I found myself in the most difficult time of my life. I was scared. I didn’t know how I could get through it or what the future held. I focussed on one day at a time and thank goodness my business kept me focussed.
Guess what? I did get through it, my financial situation actually improved even after the property settlement with my ex and I am happy. I coped because the energy around me changed. I know this sounds a bit new agey but the energy in my life during the final stages of marriage was not good. As soon as things changed, I literally felt positivity radiating around me. I have awesome friends, awesome sons and awesome family that all helped me and I am very grateful.
I have learnt that gratitude is paramount. When you feel grateful, you feel great. Try it. Think of something you are really grateful about and I guarantee it’s put a smile on your face. You can also attract things and people into your life with the right focus and energy. Trust me it works.
When I read that book 14 years ago, I had no investments and were about to start a family. Now I have a portfolio of investments and feel secure about my future. My pride and joy – second to my two sons of course - is Property Bloom, my business. I get to do exactly what I love every day, help others and have flexibility and time for my boys and special friends.
Life is good. 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a><a href="https://www.propertybloom.com.au/">.</a>
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Jo Chivers

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