Client Background & Where They Were: Gene and Emma are corporate professionals. When they came to us, they owned their home with substantial equity.
What Was Important to Them:
The goal was to build up an asset base of quality properties that would enable future security, stability & control.
They wanted something low maintenance yet something that offered future demand with tenants and property buyers alike.
They purchased their first investment property in a highly sought-after area with Owner Occupiers. The initial estimate for the property rental was sub $500 per week. However, they managed to secure a tenant at $585 per week, with three months’ rent paid in advance.
The property was rented to the DHA by the previous landlord. Fortunate for Gene and Emma, the property was immaculate and all items were fixed up when the previous tenants vacated. Hence minimising future maintenance in the near term.
The property was secured leveraging the Property Twins network of agents. The previous offer on the property was much higher and we leveraged the changing market conditions to secure this deal for our clients.
Here is what they purchased as part of the Property Twins Buyers Agency
Property Type: 3-bedroom, 2-bathroom, 2 car spaces on 450sqm block; 13-year-old house in South East Queensland
Purchase Price: $670,000
Rent: $585 per week
Rental Yield: 4.5%
Vacancy Rate (Current): 0.3%
Strategy: Capital Growth (and the rental return to cover most out goings)
Current Value: $700,000
Capital Growth: $30,000 in 4 months (Annualised 13.3% capital growth)
Metro / Regional: Metro – 34.4 km / 46 minutes’ drive from the CBD
Renovation Required: No
Due Diligence Completed:
- 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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