Moving quickly and confidently to get the deal done - that's how we handled this particular deal in beautiful Rotorua.
Our client was based in Tauranga and was looking for a yield over 6% without needing to do much work on the property.
Low maintenance unit
Happy tenant - wanting to stay on
PP of $363,000
Yield - 6%
This deal was a private listing with a seller that had worked previously with iFindProperty. I called the seller the moment the property
came online and was the first to arrange a viewing. There was an asking price of $349,000, which we quickly offered and he accepted.
It had been under-rented and the rent was being raised for the tenant, who had been there for 7 years. The tenant had looked after the
property and wanted to stay on. I am unsure if she did stay in the end, but rent could easily have been raised to achieve the 6% gross yield
that the client was looking for. The vendor was happy to sell with us because the deal was quick and we were offering at a price they
were happy with without mucking around.
What made the difference
Being ready to move. Clients who work with me on our buyers agency service in Rotorua are shown deals like
this literally as I am analyzing them. It works well, we communicate a lot, often evaluating many opportunities before the right one comes
along. Having my finger on the pulse in our local markets means that when a good deal comes up, our buyer is comfortable that it is the
right move for them (so we can move fast to snatch it up).
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