Success Story IP#5
Investment properties for less than $500,000 are in huge demand! This one is a brilliant example of what you can get, if you have the right approach.
These guys initially made contact with us 2 years ago (almost to the day). Back then they were looking down the barrel of saving their hearts out for the next two years alone, just to be able to buy their own home in the NEXT posting. Would they have done it? Absolutely. Was there a way to get better results? Without a doubt.
Their initial strategy creation was actually delayed for one of the most common reasons we encounter – only one half of the equation had started their education process. With them both being highly motivated RAAF members and having two very active sons in their life – it was understandable. When the plan was put together though, it became very clear, very quickly that they would be able to move well before planned so long as they had the right strategy put in place.
Here is the timeline and figures:
- First contact with Axon:
- Initial coaching: 23 January 2020
- EOI Submitted: 23 March 2020
- Property Price: $492,000
- Land Settlement: 24 September 2020
- Build complete/Keys handed over: 11 May 2021
- Rental income: $550pw (was expected at $480pw at time of purchase)
- Estimated value: $580,000 (valuation TBC)
Now that this ripper investment property is complete (did we mention that it is directly across the road from a community park that is scheduled for construction?!), we can switch targets to getting them their own home during the next posting to RAAF Williamtown. It will require some adjustments to the loan structures and meticulous planning to meet the right timelines but with our help they will have their cake and eat it too.