We are thrilled to introduce the first of of three...Read More
ADF Housing Investment Property: Success Story #18
This is a terrific success story about some superstar clients of ours! In fact, I consider it a story about mates-helping-mates, such is the nature of how our relationship has evolved. We have really enjoyed seeing their lives change so much, whilst we have helped them expand their property portfolio.
The Planning Process:
After building their first house in Darwin in 2015, Ben and Laura came to us in May 2020. At that time, Ben (an Army veteran) was working FIFO in WA in the resources sector, spending a lot of time away from Laura and the kids in Sydney. Laura was a RAAF Clerk at RAAF Richmond looking to transition to the Navy as an officer. As an NCO > Officer changeover myself, we spoke lots about what she might expect during the Officer Selection Board process.
With excellent levels of income and a focused savings routine, we put a strategy in place for them to acquire their next investment property.
The property we are showcasing here is an absolute banger! It’s a split-level design that takes advantage of the land’s natural contours. The design is super-versatile, and there is plenty of room out the back as well!
Investment Property Success Story Details:
- Purchase price: $543K (comparable packages are now selling for approx. $700K!!)
- Build complete: Late-2021
- Expected rent at build start: $500p/w
- ACTUAL rent achieved: $630p/w
In full disclosure, there were approx. 100 days of delays during the building process, which cost the owners approx. $5,000 extra in interest repayments before tenants were found. BUT, now we know the capital growth and extra rental return, they certainly do not mind the additional outlay during the build.
Fast forward to now, Ben is not doing FIFO anymore, which gives him more time with the family, and Laura is an officer in the Navy! Also, they have secured their next property, which will commence the build about this time next year. You’ll see that success story eventually.
Helping mates is one of the best feelings I can think of. Ben will be joining our Axon’s Unleashed Podcast soon, so be sure to have a listen to discover more about this amazing couple!
Let us know what you think of this success story – I bet so many of you can relate to this!