Client Background & Where They Were: Kate is a project manager with one dependent. She owned a home and had been wanting to get into property investment for some time.
What was important to them: The goal was to acquire an investment property to build generational wealth. Something low maintenance and set and forget for the longer term.
Here is what they purchased as part of the Property Twins Buyers Agency
Property Type: 4-bedroom house, 2 bed, 2 car spaces in South East QLD
Purchase Price: $500,000
Current Expected Market Rent: $480 per week (was under a lease for $400/week)
Rental Yield: 4.99%
Vacancy Rate (Current): 0.40%
Cashflow: Neutral
Current Value: $580,000
Capital Growth: $80,000 in 9 months
Metro / Regional: Metro – 34.3 km / 37 minutes’ drive from the CBD
Renovation Required: Yes – Paint once the current tenants vacate
Due Diligence Completed & Steps taken:
- 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)
- Securing the property before any open for inspections (the property was already tenanted and the vendor lived interstate)
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