Sold Oamaru Buyers Agency

Off-Market Dual Income for a Premium Buyer Client

Reed Street, Oamaru

Deal won through Buyer’s Agency

We bought this one for a client.

Recently purchased through our Buyer’s Agency service, this purchase is an example of an off-market deal that worked nicely for my Premium Buyer Client.

Initially I followed up on a lead of a private seller looking to sell their multi-income investment property off-market. I did some early due diligence and background checks on the property including gathering feedback from the property manager and also investigating the properties subdivision potential, before sharing the opportunity with one of my Premium Buyer Clients.

My client’s brief was pretty clear. “Looking for a buy and hold investment with significant equity growth through renovation and/or subdivision.”

Book a 20-minute strategy call

In the client’s words

I’ve now purchased two properties through IFP and have been extremely satisfied with both experiences.

Most recently, I worked with Dean. Because I work offshore frequently, I often struggle with communication and service levels, but after discussing exactly what we were looking for, Dean got straight to work.

He is a true professional in the industry. He knows his locations and numbers inside out, has a strong understanding of costs and timelines, and brings a wealth of knowledge to the table. On the rare occasion he needs additional insight, he has an excellent network of trusted contacts he can consult. I would highly recommend Dean and would not hesitate to work with him again.

Ryan, Hamilton
A Buyer’s Agency client
Oamaru · sourced by Dean Horo
  • 7 Bedrooms
  • 3 Bathrooms
  • 2 Car parking
  • 675sqm Land area
  • Freehold Estate type

Description

This 2-unit dual income property was well located, walking distance to town. Property was fully healthy homes compliant with very good property managers in place, but the property did require some love and investment which my client budgeted to complete asap after taking ownership.

On acceptance of the offer, I did a road trip to Oamaru to inspect the property, meet with the property manager and several contractors who provided feedback to my client on the condition of the property and estimates of upgrade costs.

At settlement, the property was offering a very solid 10.2% gross yield.

After introducing my client to Dunedin planner Conrad Anderson during the DD stage, less than 2 weeks after settlement, the Resource Consent for the subdivision of the property into 2-lots came through. A great outcome.

Property details

Bedrooms
7
Bathrooms
3
Car parking
2
Floor area
180sqm
Land area
675sqm
Estate type
Freehold
Rates
$5,264.06

Location