Dual-income in Tauranga at a discount

by Chris Sim on Jul 19, 2021
Article appears under: Case Studies, About Property Investment, Tauranga, Goal Setting, Local Markets

The brief

My clients are both busy parents and professionals living in Auckland. They were time poor and out of town, so our services made sense. The aim was a positive cash flow for retirement - ideally with potential to develop in the future.

We were targeting rental areas to make the numbers work, however we ended up securing a multi-income in a top suburb.

The details

• 2 bedroom & 3 bedroom attached flats
• Great Tauranga suburb
• Purchase Price = $905,000 + Fee
• Rent = $920 - $960 per week

The deal

It was a great find - attached 2 bedroom and 3 bedroom flats in a great Tauranga suburb, close to schools, shops and other amenities. Both properties had been rentals for some time, and there is room to add value/rent with renovation down the track. However, both properties were suitable to rent out as is following minor work and Healthy Home upgrades. 

The iFindProperty Difference

Having just missed out on a multi-income deal in the same neighbourhood, we knew we’d need to act fast to secure these properties. My being active in the market every day allowed us to move forward quickly and with confidence. Having been involved in hundreds of negotiations over the years, I felt there was room to get a discount based on some minor findings during the due diligence process. With this hunch, and with the support of my buyers, I negotiated a further $40,000 off the purchase price on their behalf. Great outcome.