The Project

James was an interstate investor seeking long-term capital growth with a budget of up to $450k.   Looking within 25-30km of the Brisbane CBD, he was after a property that would be immediately rentable but with potential to add value through cosmetic renovation in 12-24 months.

The Property

The property we purchased was a typical QLD high-set brick and timber house found in the Northern suburbs of Brisbane.  The previous owners had been meticulous in their care for the property, including full repainting inside and out, and installation of a built-in utility area on the ground floor with separate bathroom and kitchenette.  Upstairs, the kitchen and bathroom were also well presented, but provided an opportunity to modernise in the future and add value.  Against strong competition from owner-occupiers, we were able to secure this property for our client and see them through to settlement.

The Numbers

  • Listing Price: Offers Over $379,000
  • Purchase Price: $406,000
  • Current/Estimated Rental: $410-440pw

Client comments

“The zest app is fantastic and makes the viewing and provision of feedback for each property a very easy and quick process; much better than expected. The amount of photos and research such as flood reports, value reports etc provided in neat folders on Dropbox was great and this was done for every property inspected, even ones that were not as good. Overall the amount of information provided and also the way it was presented was great and made the whole process was very easy and gave me confidence to purchase a property without even viewing it.”