A young couple with a passion for property and a wealth of knowledge, faced a common challenge in their property journey – finding the right suburb. Despite their research efforts, they often found themselves led in the wrong direction, considering properties with lower yields.
Our services involved crafting a strategic investment plan that aligned with their goal of becoming savvy renovators. This approach allowed them to supercharge their property portfolio and unlock its full potential.
The first property acquisition through our Direct to Vendor network perfectly met Harris’ criteria, ticking all the boxes for a promising investment. While their refinancing on their principal place of residence was still in progress, we stepped in to cover the deposit – a testament to the strong bonds within our IPG family.
A Snapshot of Success of strategic acquisition
The couple secured this property for $410,000, a promising acquisition that presented multiple opportunities for growth and value addition. Boasting a generous land size of 659 sqm, this property offers the potential for subdivision into two lots or conversion into a co-living space. The flexibility it provides aligns with their investment goals.
Currently, the property generates a respectable rental income of $430 per week, resulting in a yield of 5.45%. However, a pending rental review is expected to push the weekly rental to $480, elevating the yield to an impressive 6.09%.
The property’s recent renovation has enhanced its value. The bank’s valuation came in at $440,000, and the median value of similar houses in the suburb presently stands at $485,000, showcasing the property’s potential for growth.
In the Growth Corridor: Salisbury North is thriving as a growth corridor, evident from various high-level data points.
If you share a similar passion for property investment and aspire to unlock opportunities in thriving markets like Salisbury North, we invite you to connect with us. At IPG, we are committed to providing the expertise and support you need to make informed property decisions and achieve your financial goals.
Until our next success story, let’s continue to explore the exciting world of property investment, with peace and prosperity as our guiding principles.
