Glenn

Glenn already has an existing investment property in Albury and was looking to purchase another investment locally. He engaged Property Mavens to help him find an A Grade investment with renovation potential.  

BRIEF

Investor - The property needed to provide ongoing, long term capital growth with a high level of yield. The property had to be a desirable rental option to maximize rent return and minimize potential vacancies.  He preferred something that was unrenovated where possible.
Property Mavens identified a property that was off market and matched his specific requirements. I sourced a property that suited his brief, was under budget and under market appraisal. 

OUTCOME

Purchased:                       $20,000 under the vendors initial asking price

Secured:                           off-market

Identified:                         no issues presented, original condition internally and bought with intention to renovate

Settlement outcome:     yet to settle

Returns –

Bought May 2023:                    $430,000

Current Value May 2023:        $470,000

Capital Growth: bought under market value

Rental Return: 6.04%

WANT TO BUY A PROPERTY SIMILAR TO THIS ONE?

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