I first met Andrew Spencer several years ago whilst I was inspecting ‘Oceana’ the units he was building on West Coast Highway Scarborough. The units were well designed and looking spectacular on top of the hill offering great views. Andrew was very approachable and in discussion he mentioned he was on the verge of creating System 8 which would give investors the opportunity to invest in similar projects.
I have always been interested in property and bought my first investment property at the age of twenty after prompting from my parents. I have focused my career on property and have always been keen to go into property development.
Some months later I met Andrew again whilst inspecting his units inNorman Place, Innaloo. He informed me that System 8 was up and running and looking for investors to commence a new project.
Before long my wife and I were offered the opportunity to invest in ‘The Steeples’ in Mt Hawthorn which had just received planning approval. After doing some of our own investigation into the project we took up the offer.
The System 8 strategies are essential to any good property investment, however are not always available to the smaller investor/developer. The System 8 strategies allows like minded investors to pool their resources and take advantage of economies of scale, access to professional consultants, and shared knowledge whilst being able to split their investments between various projects rather than focusing all their investment into one project, thus diversifying their risk.
The team at System 8 are always available to discuss any of our concerns, and if unable to answer questions immediately get back to us soon as they have the answer. They are a professional group with good property knowledge and use all the appropriate consultants to make for a smooth running project.
The ‘Steeples’ project has recently been completed with a better than anticipated return. We have now committed to another project with System 8 at Mandurah.
The level of return is hard to gain in any order form of investment, with this amount of control and is better than we could have achieved by doing our own smaller development.
The System 8 strategy allows us to make our own investigations into the project, consult with architects, planners, accountants, and have our input. Problems of running the project which is often time consuming and frustrating.
We enjoy watching the project develop from land purchase to final completion with minor input however we leave the day to day management to System 8.
The System 8 strategies are working for us and it is our intention to continue investing in this form for many years to come. I would recommend it to anyone with sufficient equity in their homes.
- Phil Grove