$575K Buy with $300K Profit Potential – A Game-Changing Deal

*PURCHASE OF THE WEEK* showcasing what our client achieved once we STRIKE even in this Hot Market!!

*The property acquired in Metro $575 purchase price. 620 sqm land can be subdivided into 2 and each would sell at $950k. Can deliver $300k in profits today.

*The rental on the property is $540 per week, making the rental yield sit at 4.9%. Rent to be increased at next renewal to 600 per week taking the yield to 5.4%

*5 km from Adelaide CBD

*Walking distance to Lake, playground, primary and secondary school, parks and two shopping centres

*5 mins drive to the train station

*Easy access to city via direct access through 2 major roads which is 5 mins drive from the place.

*In the growth corridor 100%

When I met Nathan and his better half they were a family of four. With a house they call principal place. They were decent income earners and paid off their loans faster. They also bought the property and renovated it to acquire manufactured equity. I must say they started the journey right. What they didn’t know was where to from here. They were about to get into some house and land packages and lucky they didn’t. Their problem wasn’t cash flow it was equity growth. Thus we bought them something that grew by $90k in literally 2 months before the property settled. A property purchased 15km from CBD and 10 mins walk to the beach in a suburb where median price was hitting close to $700k and was soon to be a million dollar suburb in Adelaide. Their strategy is something they are following religiously and we are soon to acquire property number 2 for this client taking them closer to their passive income target and net wealth goal. Also as part of the portfolio review, we found out that their own PPOR can be a future development site that can be developed into a 3 unit site. A news they were pretty happy to hear.

Now let’s try to understand why we think this is a growth corridor, let’s see some high level data

*Demand supply ratio of 58. That means demand is significantly higher than supply i.e. there are more people looking for properties than the available supply

*Days on market under 53. Coming off from 67 days previously

*Stock on market less than 0.21%

*Renters proportion 14.4%

*Vacancy rate under 0.61%

If you are a passionate property investor, then let’s chat property. Until the next purchase. Peace out!!