Brisbane - Strathpine

How our team of buyers agents helped a pair of brothers purchase an investment property for $50,000 under market value.

When a pair of brothers looked to expand their portfolio they once again reached out to the team at Hot Property Buyers Agency to assist. Running their own businesses, they didn’t have the time to go through the long property process of researching, inspecting, buying and navigating the settlement process.

The goal was to purchase a property that was rentable AS IS for the short to medium term but have longer term development upside.

This property secured in Strathpine has over 700m2 of “Next Generation” zoning which allows for future development upside.

With comparable sales from earlier in the year circa $700,000 we leveraged the softer market conditions to purchase this property for around $50,000 below market value.

Property Management

With the property being currently tenant the client enjoyed returns immediately with no post settlement down time, while the rental amount is below current market the team at Hot Property Management will be able to increase the rent at the end of the current fixed term tenancy, OR should the tenant not accept the new lease, our team will undertake a cosmetic refurbishment to the property to increase the rental and re-lease the property.

Thanks to:

Selling Agent: Kylie Loof from Ray White Bracken Ridge

Solicitor: Megan Roberts from Map Law

Finance: James Kristenson from Fundfin

Building and Pest inspection: Mark Eve Guidance Building Services

Property Info

→ 24 Spitfire Ave Strathpine

→ House ( 703m2)

→ 3 Bed, 2 Bath, 2 Car

→ 19km to CBD

Costs

→ Purchase = $650,000

→ Renovations = $30,000 (Planned for end of current tenancy)

Legals, B&P, Ect $3000

Returns

→ Current rental: $450 Per week (3.6% Gross)

→ New Rental = $550-$580 per week ( 4.4% Gross)

“I couldn’t be happier with Hot Property”

“Zoran makes the process of purchasing an investment so easy we would be silly to DIY it, when you look at the time it would take for us to leave our businesses, and travel to Brisbane it just doesn’t make sense not to mention the knowledge and connections he brings to the process. ”

— Mitch & Harry, Investors

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