The Project
S & N were Sydney-based investors looking for growth and yield in a Brisbane property purchase. We narrowed the search down to a couple of suburbs in the North of Brisbane that could provide that with a budget of $350-450k.
The Property
The property we purchased was in a great location, walking distance to local shops, with train and bus connections to the city. The property itself was a great price for a 4-bed home in this area, and while it had been well cared for over the decades, it was in need of a freshen up before going to the rental market. With a renovation budget of $20k, we helped to install new flooring, re-paint the full interior, opened up the floorplan in the living room, and upgraded a lot of the fixed electrical fittings. The difference was remarkable, and when the property went to the rental market, it was quickly snapped up at an increase of around $50pw!
The Numbers
- Listing Price: Offers Over $370,000
- Purchase Price: $355,000
- Estimated Rental before renovation: $340-360pw
- Current Rental: $400pw
