Finding the right properties to build an impressive portfolio can be intimidating and tiresome, especially if you don’t know where to look. Our clients, lovely husband and wife, were at this point on their journey to create a property investment portfolio. The couple had not been able to find anything that suited them despite looking for about 3 months!
After an intense strategy session with the husband and wife, we realised that we can set up an enviable property portfolio for them if we go with the proposed structures. This was the second property we helped them purchase in 3 months and are on our way to getting them another in the coming months!
Now, on to the property. The family wanted to sell it in an emergency since the husband was in the hospital and the wife was being shifted to a nursing home and their children wanted to sell it off before it could become a probate issue. So, we moved in fast and managed to buy it for well below its market value. For context, similar houses in the area are being sold for $590,000-660,000.
The property has a rental of $480 per week and a 4.98% yield, with a potential for 3-lot subdivision. As per our client: “Is this right Moss, we created $70k in equity on our first deal and it seems like we are creating almost $100k of equity on the second property. I believe by the time we get out fourth property we would be able to acquire 3 more and be on our merry way to retirement.