*PURCHASE OF THE WEEK* showcasing what our client achieved once we STRIKE even in this Hot Market!!
*The property acquired in Metro Adelaide $491 purchase price. 754 sqm Corner land where you can do 3 townhouses
*The rental on the property is $500 per week, making the rental yield sit at 5.08%.
*Each townhouse is selling at $650k to $680k leaving enough meat in the deal.
*18 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
*In the growth corridor 100%
The client is a young 27 year old who has a really astute investor father who understands why properties with development potential is something that adds value in the long term. When we did the strategy session with them, he was very pessimistic about the whole process but then realised that our strategy sessions are actually financially modelling your life through our proprietary software that will give you a long term view of how your portfolio needs to grow. This meant the son can retire by the time he hits 40 quite easily at $150k passive income. In fact his retirement transitions kicks off in early 30’s which keeps his eyes on the ball. The Father also got his strategy session done and his strategy was very different to his son’s as his risk appetite and outcomes were different but that’s a story for another time.
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 62. 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 44. Coming off from 62 days previously
*Stock on market less than 0.52%
*Renters proportion 28%
*Vacancy rate under 0.23%
If you are a passionate property investor, then let’s chat property. Until the next purchase. Peace out!!
