We have recently settled on this property for one of our clients. This property was purchased off market for $550,000, a comparable property just two streets away recently sold for $590,000. The property secured has 5 garages, even with one garage space being converted to an additional room. This can be used as a study or another bedroom opposed to the comparable on the same size block with 1 garage space and no additional converted spaces. That’s a minimum of $40,000 straight into the deal from day one. Imagine making 7% the day you take ownership of the property.
BUT WAIT IT GETS BETTER!!
Due to our high level negotiations with the agent and high quality property management team we were able to market the property before settlement which resulted in having a tenant in place before settlement occurred.
Our client was able to achieve $20 a week higher than the cashflow analysis completed on the property when securing it. Resulting in $1,040 in additional income per annum that our client wasn’t expecting.