Hayley & Alex
Hayley & Alex had reached out to Property Mavens as they had equity in their current property along with significant savings and were after an investment property. After speaking to them and understanding their full borrowing capacity we decided to look at purchasing a property that had potential to add value through a cosmetic reno but would also provide long term capital growth as well as rental return.
BRIEF
Investor - The property needed to provide ongoing, long term capital growth with a low to moderate yield. The property had to be a desirable rental option to maximize rent return and minimize potential vacancies.
They preferred something that was already renovated where possible though happy to do any cosmetic changes.
Property Mavens identified a property that had been on market for a while though hadn’t sold yet. Due to having ongoing relationships with local agents we were able to secure this property under the initial ask and market appraisal as well as being under budget we had been allocated.
OUTCOME
Purchased: $20,000 under asking price
Secured: Private Treaty
Identified: no issues presented
Settlement outcome: settled
Returns –
Bought June 2023: $530,000
Current Value May 2024: $560,000
Capital Growth: 6% in just under 12 months
Rental Return: 6.37%
TESTIMONIAL
10/10 Anjay and the team at Property Mavens are the REAL DEAL. Absolutely cannot recommend Anjay highly enough to anyone considering to use a buyers agent for their investment properties. Given this was my first time buying an investment property (and we had never used a buyers agent before), I was at first, highly skeptical of what value would be achieved. But Anjay's commitment to excellence, high standards, and clearly having our best interests at heart at every single step of the way - I found myself already recommending him to friends before we had even finalised our purchase with the house. Where I thought Anjay went above and beyond (beyond just finding the house and negotiating a good price) was all of his guidance regarding how to maximise the value from the property - what would need to be done and over what time frame (in reference to renovations etc), and he had the absolutely BRILLIANT idea to find a house that could be utilised as a share house to help address our strategy to maximise rent - and he even has connected us to all property managers and a potential NFP that would likely enter this agreement with us. He even went as far as to verify that the house would be accepted (as it needs to be the right kind of house for this) before we made any offers on the place. He also successfully bought the house off market for us - saving us a tonne of money. The first property we wanted to buy went on market and Anjay was very skilled and quickly advised us when he no longer thought the price was good value for the property for using as an investment. He made it very easy to trust him as his experience is so vast and he genuinely cares about his clients. He knows absolutely everything and everyone you need to know to buy, manage, maintain, and renovate locally - his guidance on this was so helpful and I never once felt like he didn't absolutely have us at the forefront of everything he was doing. When we had some confusion and challenges with the conditional requirements from our lender - he even called and spoke to our broker to help clear this up - this is definitely beyond his role remit! Honestly, can't recommend Anjay enough. We will 1000% use him and the team at Property Mavens again. If you dont know what value you might get - you will have absolutely no regrets - thank you to Anjay and the Property Mavens team!
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