Client Background: John and Jane are a young couple in their early 30s. They are on a family income of $150k approx.
Where they were: John and Jane already owned a home and were looking to start their investment property portfolio. They had received feedback from colleagues and friends who said they should consider buying brand new house and land packages. However, they wanted to ensure they build the right team around them, to guide them towards achieving their long-term goals.
What was important to them: Investing in property was a way for John to reduce his work hours so he can spend more time doing things he loves with his family & friends. His aim is to gain enough passive income from property that he will be able to retire earlier.
Here is what they purchased as part of the Property Investors Academy
Property Type: 3-bedroom house
Purchase Price: $406,000
Rent: $380 per week
Rental Yield: 4.87%
Vacancy Rate (Current): 0.2%
Cashflow: Positive
Current Value: $512,000
Capital Growth: $106,000 in 10 months
Metro / Regional: Regional – 29.1 km / 33 minutes’ drive from the CBD
Renovation Required: Yes – manufacture equity
Due Diligence Completed:
- Secured in a rising market with multiple offer situation (They were able to jump in front of the queue using the Property Investors Academy negotiation methods
- Property with future upside as well as value add to equity
- Leveraged qualitative & quantitative factors to determine location, type of property, cash flow and risk-based analysis to zero in on the right property.
- Discarded lemon deals presenting hazards and high risk (avoiding key mistakes)
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