Client Background: Ben and Kate are corporate professionals. They owned a home in Sydney and were looking to purchase their first investment property.
What was important to them: They wanted a low maintenance property with capital growth potential. The strong rent return (at the time of the purchase) also assisted with the holding costs.
Here is what they purchased as part of the Property Twins Buyers Agency – The original purchase price for the property was $626,000. As part of property searches completed by their solicitor and the building inspections, the vendors adjusted the purchase price. The issues were genuine and were presented to the vendor for consideration.
Property Type: 4-bedroom, 2 bath, 2 car spaces house on 400sqm in South East QLD
Purchase Price: $618,000
Rent: $570 per week
Rental Yield: 4.70%
Vacancy Rate (Current): 0.8%
Strategy: Capital Growth
Current Value: $700,000
Capital Growth: $82,000 in 8 months
Metro / Regional: Metro – 31.7 km / 34 minutes’ drive from the CBD
Renovation Required: Minor tidy up
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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