Off Market Purchase with the Hard Work done
Type of Property: House
Reason of Purchase: Investment3 2 2
Sometimes letting someone else do the hard work is the best option, like in this situation where our team found this off market, fully renovated property that matched our clients investment goals perfectly.
Everyone knows we love to renovate, it’s the best way to add value, increase your rental yield and improve the overall performance of an investment property… BUT, sometimes you can be better off securing a property just like this where all the hard work has already been done.
This NSW based client was looking to get a solid investment property within the Brisbane market, working with limited funds, we realised that this client was better off purchasing a renovated property within their Sub $600K budget, as opposed to going lower in the budget and undertaking the renovations ourselves.
You see it’s all about leverage, using the banks money as much as possible, we discovered for this client was better to purchase something already done so the client could borrow against the contract price, as opposed to using cash to renovate the property.
In addition, this property was purchased off market direct from the owner using our industry contacts, WOW what a result!
Block Size: 542m2
Bed / Bath / Car: 3 / 2 / 2
Rental Return: $480 Per Week or around 4.2-4.3% Gross
Proximity to CBD: 11km Direct Line
Notes: Property Features internal stairs, lower level rumpus area and Wet Bar, Perfect for Large families wanting more space.