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Just Purchased! Over 6% return - a 3 bedder for the price of a 2

Posted By Nicole Marsh - Buyers Agent  
16/05/2019
14:20 PM

Congratulations to Melinda who just settled on this great property located on the northern Gold Coast last week.

 

Purchased: May 2019

 

Client: Interstate Investor 

 

Location: Northern Gold Coast

 

Original Advertised Price: $369,000

 

Clients Budget: $330,000

 

Our Purchase Price: $329,000

 

The Client: Based interstate, this first time investor buyer just wanted a property that would tick along without too much hassle while she worked hard to pay it off. 

There is plenty of scope here add value down the track by converting the garage to additional living space, enclosing the front yard and the addition of a pergola BUT it's perfectly fine as is in the meantime. 

 

The Property: Lived in and loved by the same owner for the last 18 years, this property was in great condition.

This 3 bedroom, one bathroom, SLUG home has everything a tenant could want - aircon, built ins, security screens, fans, new dishwasher, new carpet and fresh paint throughout.

A short walk to shops, schools and public transport - and just up the road from the coasts best theme parks.

 

Rental Return: This property was let at $385 per week within one week of hitting the rental market. Yep, over a 6% return from day one! 

 

Client Savings: With 2 bedders in the same area selling at the same price, if not more than what we paid for this 3 bedder, there's plenty of price upswing built into this property from day one. We estimate this buyer would have had to spend another $20k minimum to secure an equivalent 3 bedder.

This is what comes from watching the property market like a hawk!

 

Congratulations Melinda - what a way to start your investment property portfolio!

 

The seller has a trained negotiator and property professional in their side. Just like Melinda, why shouldn’t you??

 

Find out more about our property buying services and how you can work with me here

 

At Eureka Buyers Agents, We find. We negotiate. You save.