Great Growth and Solid Returns
Type of Property: House
Reason of Purchase: Investment3 1 1
This property was purchased by the team at Hot Property Buyers Agency, for a young property investor looking to get a foot hold in the Brisbane Property market and she was looking to use a long term hold strategy. This great little property was purchased back in August 2015, our client was happy to attend to a few minor items after settlement to improve the rental yield and rent ability of the property, with future scope to add value to in a few years to help the growth of her portfolio.
Here are some facts and figures about this purchase;
3 Bedrooms, 1 Bathroom, 1 Car, 653m2 block of land
Purchase in Aug 2015 $390,000 now in late 2016 it would sell for around the $440-$450,000 range
Unimproved land value at time of purchase: $240,000 now $265,000
A makeover was done on the property after settlement for under $10,000
Rental return before makeover would have been $300 per week
Post makeover Rental return in Nov 2015: $365 which is a 4.7% Gross Rental
And since purchase the property has grown around 10% in the first year.
Now that is a great investment property!