My Auckland based client was looking for an investment property under $450,000 and wanted to do a renovation for up to $50,000. So all
in, they had a budget of $500,000. She wanted it to be cash flow positive.
The deal
It was a multi-offer situation and we successfully secured the property for $420,000. I was able to get a builder in for an estimate
and a property manager immediately, so we knew we could renovate the property to be able to rent it out for the amount my client wanted
after renovating it within the budget she needed.
The details
3 Bedroom
PP: $420,000 (not including fee)
Rent Appraisal: $535
Gross Yield: 5.8%
The iFindProperty Difference
The selling agent I was working with has a good relationship with iFindProperty so even though it was a multi-offer situation, the agent
knew that our buyer was pre-approved and would not waste the vendor’s time. Also, having connections with local contractors enabled us to
begin the renovations the day after settlement so the client had the shortest vacancy in her property possible during the renovation period.
As out of town buyers we weren’t sure how we were going to make it work, searching for and purchasing a property, but Kara from iFindProperty made the whole process a breeze. Kara was friendly and very patient with all of my questions. Her knowledge of the area was so valuable, and with her guidance we successfully purchased the perfect place for us! We would recommend Kara and iFindProperty to anyone and look forward to working with her again soon.
The coalition government has continued to reset some policies that affect rental property owners. In this article I summarize recently
announced changes for interest deductibility, brightline, pets and pet bonds, 90 day no-cause tenancy termination and fixed term
tenancies.
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Hamilton is a proven fantastic location to invest, providing strong long term capital growth and rental demand. Employment opportunities in the region have resulted in a population increase of over 23% in the last 10 years.
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