Client Background: First time investor clients with corporate backgrounds, looking to establish their property portfolio.
Where they were: They already owned a family home where they had tapped into $260,000 equity to acquire a couple of investment properties.
What was important to them: Cashflow and capital growth were both important to them. In a fast-moving market, it was essential to secure a quality property as soon as possible.
The property they purchased was part of a family circumstances change and the vendors were committed to selling and even renting back the property. The vendor who then became a tenant paid 6 months rent in advance to secure the property.
The property was purchased in a high growth area with owner occupier appeal as well as strong rental returns within 30 minutes proximity to the CBD in Queensland.
Here is what they purchased as part of the Property Twins Buyers Agency
Property Type: 4-bedroom house, 2 bath, 2 car spaces on 600sqm
Purchase Price: $600,000
Rent: $560 per week
Rental Yield: 4.85%
Vacancy Rate (Current): 0.2%
Cashflow: Positive
Current Value: $775,000
Capital Growth: $175,000 in 11 months
Metro / Regional: Metro – 24.6 km / 26 minutes’ drive from the CBD
Renovation Required: No
Due Diligence Completed:
1) Leveraged qualitative & quantitative factors to determine location, type of property, cash flow and risk-based analysis to zero in on the right property.
2) Discarded lemon deals presenting hazards and high risk (avoiding key mistakes)
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