Our client wanted to take advantage of the buoyant local market in the Bays, and even though she lived locally, she was frustrated at
constantly missing out on the best deals. Often properties were sold long before they hit the market, snapped up by buyers in multi-offer
situations within a day or two – she had decided it was time to leverage our negotiating experience, local relationships with agents, and
ability to act quickly in a highly competitive environment.
Ready to go with finance approved, her criteria was cashflow positive 7-8% gross yield in a good street to attract quality tenants – a
“set-and-forget” type of investment to match her and her husband’s busy lifestyles.
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Within three days I got wind of a duplex “worst house best street” scenario and on advice our client put pen to paper immediately to lock
up the deal (she had a suitable due diligence clause). She won the Flaxmere property in a multi-offer out of three other offers within $5K
of hers, and the three bedroom home with great tenants currently paying $350pw was hers for $225,000 (after all costs). Simple investment,
ready to go – a no-brainer – one of the best streets in Flaxmere, a quick tidy up and refreshing the property could easily increase the
current excellent yield of 8.1%.
A builders report confirmed that the dwelling was sound, and the long term tenants were delighted to stay on. Our happy client is getting
ready to go again! Why wouldn’t you, really!
It's not just about finding a deal, to truly grow as an investor you need to plan towards your end portfolio and work with people who can help you move towards that vision. iFindProperty has a service that achieves that for clients, and we are excited to share it with you
As an accountant is not a place for my personal political opinions, but professionally speaking I’m pleased with this result, and cautiously
optimistic we might have a friendlier tax environment for the property sector for at least a few years. But what does this mean for property