Type of Property: House
Reason of Purchase: Investment3 1 1
This property was purchased for a young (mid 20’s) professional looking to get his foot into the market with an investment property. After finishing uni and getting into full time work using his degree he found himself in a fortunate position to purchase an investment property. Being a Brisbane local he had personally been searching the market for the past few months, however was finding the market was highly competitive and difficult to find a good quality property. In addition he didn’t have the time or the property market knowledge to make a confident decision. After all, this first property was important to get right as it will be the stepping stone to future purchases, and needed to be a strong performer.
After months of searching himself he engaged the services of the Hot Property Buyers Agency team, immediately we established an investment strategy and began the search. Looking at both on market and off market opportunities, even contacting our agent database and relationships with selling agents in the area to identify any off market opportunities. After a few weeks the off market search was successful and yielded a fantastic opportunity, this great little 3 bed 1 bath 1 car home in Gordon Park. We were able to inspect and secure the property under contract days before it hit the open market for a competitive market price around $50,000 under market value.
We were also able to secure the property with terms and conditions to suit our client allowing early access prior to settlement to undertake some renovation works to increase rental yield.
The strategy with this purchase was to undertake some minor cosmetic works to the property to increase the rental yield and rent ability as mentioned above, and well as manufacturer some equity to then revalue and purchase again, from there our client can leverage against the growth and purchase again to build his portfolio.
Congratulations to our client on this Amazing Purchase!!!
“I was looking to purchase my first property for over a 8 months, weekend after weekend and failed consistently to make an offer on the properties as they sold so quickly. Also, I struggled to determine what constituted a good investment property and what they are worth. That’s when I reached out to Hot Property Buyers Agency and Daniel Mumford assisted me in the purchase of my first investment property.
Daniel was extremely professional and worked tirelessly at searching for an investment property that suited my goals and price. Not only that, throughout the whole process of acquiring the property Daniel was negotiating with the sellers on my behalf and was able to continue slash the cost of the property after the building and pest reports were completed.
Daniel purchased me a 3 bed, one bathroom house in Gordon park for 580k, which at the time had a median house price of 750k. But what was even more impressive, the bank valued the house at 630k at them time of the purchase. Instant 50k capital. Then the management team through Hot property were able to find tenant at the rental price I desired, soon after settlement.
I couldn’t be more happy with Daniel and HPBA for helping me buy my first home. They turned the stressful task of buying a home into an enjoyable experience”
J. Chiang 2017