The clients were Kiwi offshore investors based in Sydney. They were looking for a multi income property that was cash flow positive and had
upside for development down the track. They were open to multiple locations, not just Hamilton. As the client was based overseas, they
relied on our connections for the due diligence part of the process, including sourcing a building inspector, council communication, and pre
A large 1,004m2 section with two lots. There was a three bedroom house and a separate one bedroom unit on the property. Even though it was
currently being used for residential purposes, the land was commercially zoned, and therefore had development potential for this. As it was
two lots, it could also be subdivided and a larger house moved or built on site in the place of the 1 bedroom unit. This would greatly
increase the rental return on the property.
As is, the 3 bedroom house is rented at $400pw and the 1 bedroom at $250pw. The property was purchased for $459,000 inclusive of our
finder’s fee, resulting in a gross yield of 7.36%, and a positive cash flow projection of over $9,000 per year with a 30% cash deposit on
interest only lending.
Case Study 2: Hamilton Central
Our client was based in Auckland and was looking for a lower priced property, preferably under valued and cash flow positive. As they were
unable to get down to Hamilton to view the property, they relied on our services for all aspects of the due diligence on the property,
including negotiating with the vendor, sourcing a building inspector, organizing rental appraisals and taking video footage of renovation
work that was completed to ensure work was up to scratch.
The original listing agent was unable to sell the property for the vendors once we hit lockdown, however the unique way that iFindProperty
works enabled me to get a great outcome for both my client and the vendors.
The deal was a relatively new, low maintenance 2 bedroom unit located close to the Hamilton Lake and CBD. The property had a contract on it
that fell over just prior to COVID-19 lockdown. The vendors were keen to get the property sold in order to move on to another project. The
unit was valued in the range of $380,000 - $405,000. I managed to secure it for my client at a price of $353,000, roughly $45,000 under
market value. The property is tenanted for $420pw, resulting in a gross yield of 5.8% inclusive of our finder’s fee, and is cash flow
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