Client Background: Sarah and Damien were first time property investors. Sarah is an accountant and Damien is an engineer.
Where they were: They were looking to work towards building a strong foundation property portfolio with quality properties. They already owned their home and they had saved up a deposit for the first investment property (which they used tax effectively based on their accountant’s and Property Twins mortgage brokers advice).
What was important to them: They wanted to set themselves up for the future for their retirement and build a property portfolio with multiple properties.
Here is what they purchased as part of Property Twins Buyers Agency
Property Type: 3-bedroom house
Purchase Price: $430,500
Rent: $480 per week
Rental Yield: 5.80%
Vacancy Rate (Current): 0.30%
Cashflow: Positive
Current Value: $740,000
Capital Growth: $309,500 in 21 months (72% capital growth since purchase)
Metro / Regional: Metro, 23km / 30 minutes’ drive from the CBD
Renovation Required: No (Minor improvements required)
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)
- Negotiated with the agent on the terms and put Sarah and Damien front of the queue. They did make use of a market when many others were fearful. This has paid off for them!
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