This ADF Housing Investment Property Success Story is about forging...Read More
ADF Housing Investment Property:
Success Story #19
Success Story #19
This success story has a bit of a twist to it, yet it’s still a great outcome for this wonderful RAAF couple, both posted to Newcastle.
The Planning Process:
Dan and Libby came to us in April 2020, looking to get into the property market. They had a good amount of savings, and they were implementing the ‘Barefoot Investor’ method of managing their money.
We put the plan together for them to pull the trigger on IP#1 – then the $25K HomeBuilder Grant (HBG) landed, and an update to postings was injected into their plan.
We quickly pivoted the plan to have them purchase their own home (aka PPOR) near RAAF WLM by combining $11K HPAS, the HBG and a DHOAS loan. What you’re seeing here is the outcome of that property (keep reading to discover the twist!)
Investment Property Success Story Details:
- Purchase price: $603K
- Rent achieved: $670pw
- Comparable packages are now selling for approx. $900K!!
Rent? What rent? This was a PPOR build, right? Well….
Due to delays with the approvals coming out of Council and the delays in building, the twist to this story is that the owners never actually moved into the property! AND, they received special exemptions to keep their grants as well – how good!
As you’ll note from the images, the sizes of land in that part of NSW are waaaaay bigger than most other places, especially in the master-planned areas of SEQLD. Whilst many tenants prefer low-maintenance backyards, clearly, there is still plenty of demand for families that love more space on the property they’re renting.
As you’d expect, Dan and Libby are stoked with the outcome of going ahead with this property. Whilst it was a tad disappointing that they never got to enjoy the house they built, it was never their forever home – it was always a means-to-an-end to kick start their property portfolio.
Also, they have already secured their next property with Axon which will commence the build in a few months. (You’ll see that success story eventually!)
A bit of a twist with this one… but when you look at those numbers and the net position these guys are in, it’s a cracker of an outcome!