Gary
Congratulations to our latest Wodonga purchaser, Gary.
Gary was looking for a property to start their investment portfolio. We had a limited budget of $500,000 to find a property that had good capital growth potential along with a rental return of 4.5-5%. This property we secured was off-market due to the owners having bought elsewhere and wanted a reasonably quick sale. Had this property gone to market an owner-occupier would have easily snapped this up for $510-520k. By utilising my relationships with the local agents we were able to snap this fully renovated property below its true market value.
BRIEF
Investor - The property needed to provide ongoing, long-term capital growth with a moderate yield and low maintenance. It is a set-and-forget option and something to springboard on for future purchases.
OUTCOME
- Purchased: Off-Market
- Secured: Off Market with no competition, $20,000 under clients budget and $35k under market value
- Identified: No issues presented during the due diligence process, negotiated for the vendor to remove the stump that was at the front of the property as part of the terms and fix up a few of the minor defaults that came up in the building inspection
- Settlement Outcome: Settled
Returns
- Bought (Aug 2024): $480,000
- Current Value (2024): $515,000
- Rental Return: 5.3%
TESTIMONIAL
10/10 I approached Anjay at Property Mavens to help me purchase my first investment property as I was ready to buy but had limited knowledge of the marketplace and am time poor. Anjay was great from the get go, he was able to present an off market opportunity within a week of the engagement and we were able to settle the property within a month at a great price.
Anjay has very good knowledge of the marketplace, he was very trustworthy, had access to off market properties, sublime negotiating skills and that he would be able to secure the right property for be at the best price.
Anjay’s communication was great throughout the whole process and made it an easy and seamless transaction for me. I would highly recommend.
WANT TO BUY A PROPERTY SIMILAR TO THIS ONE?
As professional property buyers we know the difference between a bad property and a good one and where to buy to generate the strongest return on your money.
If you would like help to identify an ' investment grade' property like this one, whether it’s a family home or an investment property and you’re ready to get started, click here to book a time to discuss your requirements.
It’s 100% obligation free
