Simon and Leanne's Journey
Being time poor, Simon and Leanne were in need of help to buy an investment property that would provide them with flexibility and options to match their risk profile. This was the second investment property Simon bought via Property Mavens.
BRIEF
Investor - This needed to be a capital growth property for which also allowed for capital growth to be manufactured via future development or the site. Working with a tight budget, the search commenced in a highly desirable middle ring location.
OUTCOME
- Negotiated price: purchased at auction against strong competition in Reservoir
- Secured: In desired location with a tenant in place
- Identified: some insignificant building issues that needed repair during due diligence.
- Settlement outcome; settled
RETURNS
- Bought Sep 2016: $ 705,000
- Value Oct 2017: $1,000,000
- Capital Growth : 42% capital growth in a 13 month period
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