Jeremy & Carmela's Journey
Jeremy and Carmela needed help to buy a property for their SMSF. This was the second property they bought through Property Mavens
BRIEF
- SMSF Investor - This needed to be a cash-flow property for their SMSF which also allowed for capital growth to be manufactured via cosmetic renovation. Working with a low budget, the search commenced in a highly desirable regional location of Ballarat.
OUTCOME
- Negotiated price: $15,000 below asking price
- Secured: In desired location with a rent appraisal of $350 per week rent (4.7% yield)
- Identified: plumbing issues that needed repair during due diligence.
- Settlement outcome; All repairs were attended to by the vendor, due to the strict contract clauses we used.
Bought July 2016 $380,000
Valued July 2022 $700,000
Capital growth 83% in 6 years, or 14% per annum
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