Lucy & Robb
Lucy & Robb were looking to purchase their first investment property and establish a property portfolio but didn't know where to start.
BRIEF
- Investor - After determining a cash flow (yield) strategy and working with a strict budget, searching commenced in a highly populated regional city and purchased a property on their behalf in Ballarat, Victoria
OUTCOME
- Negotiated price: At budget
- Secured: An off market sub dividable duplex site in the desired suburb
- Identified: a number of small items presented during the due diligence period but nothing of concern
- Settlement outcome: The property was sold with tenants already in situ.
RETURNS
- Bought Feb 2015: $295,000
- Appraisal Aug 2016: $315,000 (un-renovated, not yet subdivided)
- Rental Yield: 5.8% pa
- Client testimonial:
As newcomers to the market we were motivated to purchase a regional investment property but didn’t feel confident is finding the right property for us. We were very time poor and weren’t able to carry out the due diligence we knew was important when purchasing for an investment.
Property Mavens presented as a very professional buyer advocacy service that suited our needs perfectly, they took our brief and completed the research and legwork we did not have to do. They found us the perfect property and put us into contact with some great people to help us make the whole process smooth and stress free.
We are very happy with our decision to consult Property Mavens before making such a large investment and would recommend to others.
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