Client Background: John and Levi were first time property investors. John is a corporate professional. They were looking to purchase their first investment property. They were limited by equity and borrowing capacity they could access and they wanted to get into the market at the earliest with what was possible for them.
What was important to them: They want a parallel strategy. They understand the importance of not having work as a single point of failure. They have seen property enable their extended family in the past and they wanted to ensure they could build security & stability for their family.
As they were limited by equity and borrowing capacity, the goal was to acquire a quality asset (albeit at a lower price entry point). They purchased a 2-bedroom unit with 1 bath and 1 car space for $357,00 in an older style block in an affluent Brisbane Suburb where houses are selling for circa $2.5million. The property is less than 8km from the CBD.
This is a once in a lifetime deal for them. As their buyers’ agents we secured the property quickly enough and there were buyers waiting for the deal to “fall over” so they could have an opportunity.
Here is what they purchased as part of the Property Twins Buyers Agency
Property Type: 2-bedroom, 1 bath, 1 car unit in South East Queensland
Purchase Price: $357,000
Rent: $350 per week
Rental Yield: 5.09%
Vacancy Rate (Current): 0.7%
Strategy: Capital Growth
Current Value: $450,000
Capital Growth: $97,000 in 6 months
Metro / Regional: Metro – 7.7 km / 14 minutes’ drive from the CBD
Renovation Required: Minor tidy up required (not urgent)
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