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.
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.
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.
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