Type of Property: House
Reason of Purchase: Investment3 2 2
When a local time poor Brisbane investor came to the team at Hot Property his goals where simple, he was looking for a Solid, low maintenance property that would be a constant performer. this gentleman actually drove past our office everyday on the way to work and one day decided to take action and give us a call.
As they say the rest is history, then just a few weeks after that first meeting and after investigating both on and off market properties, this large 3 bedroom high set home in a popular Brisbane suburb was found. The property was rentable as is but given the property was going to be vacant at settlement we took the opportunity to undertake some minor improvements, installing A/C units, Fans, updating Lighting, installing some fencing. all to improve the rent ability of the property and also the rental yield as well.
In this situation, Hot Property Management were aware of this property becoming available and off market where able to secure a tenant immediately after the works were completed post settlement, which reduced down time
Price: Mid $600’s
Rental: $530 Per week (~4.2% Gross Rental Yield)
Block Size: 622m2
Proximity to CBD: 9km
Notes: Nice quiet street full of quality brick homes, good block size and good proximity to shops and transport.
Capital Growth Rate: 4.8% P/A over the past 5 years