Metro Adelaide Win: $480K Buy with $520K Bank Valuation

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

The property acquired in Metro Adelaide has a potential to put a granny at the back or subdivide into 2 lots.

*$480k purchase price. 675 sqm land with potential to put a granny at the back or subdivide into 2 lots.

*Bank valuation sits at $520k and the area has grown to $560k.

*20 km from Adelaide CBD

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

*5 mins drive to the train station

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

*4 major shopping precincts within 10 mins drive.

*In the growth corridor 100%

My client is a young IT professional who bought his PPOR when he was in his twenties. A townhouse to call home that is a lifestyle choice. He wanted to buy another townhouse for investment purposes when he first came to us. Once we did the strategy and helped him understand how scaling and creating a sustainable portfolio works he was slightly convinced. The first property purchase was a bit of a conservative decision for him trusting our process. 3 months in and the property has over $80k equity built into the property and he is ready to make an acquisition number 2. His parents also didn’t believe him at first but now can see the value of following a trusted strategy and building a portfolio that is scalable and sustainable without sacrificing lifestyle. We are now in the process of acquiring another investor property for him to get him retired over the next 7 years.

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

*Demand supply ratio of 76. 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 46. Coming off from 86 days previously

*Stock on market less than 0.52%

*Renters proportion 32%

*Online search interest over 795 and growing

*Vacancy rate under 0.32%

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