The Project
B was an interstate investor on a mission, looking for a property to buy and hold in the outer Northern suburbs of Brisbane. The objective of the project was to find an investment property with capital growth as the main driver, but also a property that would provide positive cashflow.
The Property
The property we were able to secure was a 3 bedroom, one bathroom high set property which had been partially renovated. Located in a popular family friendly area and boasting a generous yard and additional rumpus room, this property was set to be a winner. The scope for later cosmetic updates (painting, flooring, bathroom), would assist with the capital growth on the property, but being neat and tidy with a completely new kitchen and built in downstairs area, meant this would be an attractive property for renters and would provide steady rental income.
The property was tenanted within the first week of being on the market, and is renting for $400 per week.
The Numbers
- Listing Price: Offers Over $429,000
- Purchase Price: $420,000
- Estimated Rental before renovation: $390 – $410 p/w
- Current Rental: $400 p/w
Client Comments
“The team had great guidance and advice. As a first time buyer and being interstate this was so important to me. I feel as though I learnt a lot along the way rather than just being told what was happening.” – B
