Ruv

Congratulations to our latest Albury purchaser, Ruv.

Ruv was looking for a property to add to their investment portfolio. Ruv had initially been approved for a lower borrowing capacity of around $440,000 which had limited his potential options though when we reviewed this we were able to obtain an additional $100,000 so to give us a budget of $540,000. After a new search, we came across a property that had initially been listed at $550,000 which we managed to secure $33,500 under the ask including $3,500 to go towards the replacement of the ceiling in the living area which was identified in the building and pest report. There is still more scope in the property with minor cosmetic work to increase its value or to maximise its potential. 

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. Also, something that had scope for value add was another potential option as well.

OUTCOME

●    Purchased: On-Market
●    Secured: On-market with no competition
●    Identified: There was an issue with the ceiling in the lounge room coming away from the joists so as part of the settlement we had negotiated $3,500 off the price to fix this before new tenants moved in
●    Settlement Outcome: Settled

Returns –

●    Bought (May 2024): $516,500
●    Current Value (2024): $550,000
●    Rental Return: 5.5%

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