The Best of Both Worlds!!
Type of Property: House
Reason of Purchase: Investment4 1 2
As an interstate investor these clients where wanting a mix of low maintenance investment but also value adding opportunity. Some might say the best of both worlds!
And after just a few weeks we found this perfect property that offered both.
After over a week of back and forth negotiation, we ended up securing the property under my clients budget and within a fair market range, in fact slightly lower then an other offer presented to the seller. The Seller and Selling agent realised that the value of working with a buyers agent not only ensured a strong contract success rate but also a smooth transaction as well.
The strategy with this property purchase was to secure a solid house which offered the opportunity to lease it out AS IS with minimal costs, but then have scope to add value in the future.
Moving forward we will look to under the following works to increase the rental yield and enhance the value of the property:
- Internal Repaint
- Window Furnishing update
- Lighting update
- Carpet replacement
Purchase Price: $650,000
Rental assessment: $500-$530 Or around 4-4.2% Gross Rental Return
Block Size: 580m2
Proximity to CBD: 12km Direct Line