Client Background: Jo works in the public sector and has been a single mother. She didn’t have enough super and had been working to pay down the owner-occupied property.
Where she was: Jo wanted to invest and had been interested in property for a long time. However, what was holding Jo back was the fear factor. The fear of the unknown in the markets that Jo doesn’t know about was also impacting progress and decision making.
What was important to her: Jo wanted to ensure she had income in retirement and to build security & stability over the longer term.
Here is what she purchased as part of the Property Investors Academy:
Property Type: 4-bedroom house
Purchase Price: $795,000
Rent: $580 per week
Rental Yield: 3.79%
Vacancy Rate (Current): 0.4%
Current Value: $980,000
Capital Growth: $185,000 in 12 months
Metro / Regional: Regional – 110 km / 1h 37 minutes’ drive from the CBD – Beachside suburb
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)
- Jo had missed out on a property before due to poor building and pest reports (and the academy helped leverage the right tools to determine how to avoid those deals)
How Jo Felt After:
Jo was relieved and she was finally getting the push needed. The main benefit was learning in a group as she could learn from other like-minded people asking the same questions as Jo so everybody attending was learning from each other as well as the coaches. The main goal was to get the support and avoid the mistakes.
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