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.
Here are two case studies of new clients we welcomed to iRentProperty. We are ready and eager to help investors unlock value in, and
upgrade, their properties, when other property management businesses say “too hard”.
Read More…
Right as the CCCFA changes were starting to bite, an investor asked us to market their 3-unit property in Rotorua. We used our investment experience to highlight the upside potential for the incoming buyer and marketed it to our exclusive database of investors, generated a good result.
Read More…