Type of Property: House
Reason of Purchase: Investment3 1 2
Late 2015 our team assisted a time poor Aussie Ex-pat working overseas to start building a strong investment portfolio back here in Australia. We secured a renovator for him on Brisbane’s north side in Zillmere. The property was purchased for your around the Mid $400’s and was tenanted at $400 Per week. Considering the condition of the property this was a strong rental yield, but the client was focused not just on yield but capital growth and growing his portfolio. The strategy with this property was to vacate the tenant at the end of the tenancy and undertake a renovation and thats exactly what we did. The client then engaged our renovation consulting service and we spent just under $50,000, works included landscaping and fencing, External house wash, preventative maintenance, Kitchen replacement and wall removal, Bathroom make over, internal repaint, floor polish, new lighting and switches throughout the list goes on the down time for the renovation was around 4 weeks.
The property is now on the rental market and receiving great feedback, the yield of the property has now gone from around 4.6% to just under 5%, and the client is currently ordering a revaluation of the property to access some equity that we have now manufactured. From our current assessment and market feedback the price point of the property is believed to be around the $530-550,000 mark, which assuming our client is leveraged at 80% LVR, this re-val could provid our client potential equity of around $70-80,000.
That means our client can now have a high yielding, low maintenance property in an area that has strong capital growth potential, AND with potentially $70-80,000 ready to draw down on for the next investment property.
All in under 12 months, this is a key portfolio building strategy we use to help clients build their portfolios fast, and safely.
Purchased by Zoran Solano
Brisbane born and bred, Zoran Solano, has been immersed in property investment since he was a young boy.Learn More
I wanted to invest in Brisbane , but living overseas it was a challenge to select a property so after investigating buyers agency’s I decided on Hot Property Buyers Agents because of there extensive area knowledge .
From the very beginning I was impressed with there constant support and communication and as a whole the experience was very satisfying .
With the new purchase it was then decided to do a medium sized Reno to manufacture some growth , Zoran completed the Reno on time and under budget!
Great Job Zoran