ADF Housing Investment Property: Success Story #24

This is a tale of hardship, yet tenacity to succeed, no matter the circumstances.
 
This couple, both in the Navy, first came to us in May 2018 – yes 4 years ago! Being posted to Rockingham, they were living in their own home (PPOR) in WA. It was the right thing to do, back in the day.
 
Unfortunately, the house had dropped in value and they were heading to a worst-case scenario: owing more than the house is worth (aka an ‘upside down mortgage’). Frankly, things were bleak. 
 
Once they eventually sold the PPOR (at a loss), and with a dual-relocation to Sydney, they knuckled down on their savings for 18 months (including having a second child!) to get to a point where they had their deposit and costs ready to acquire an investment property – a property that would benefit their future. I have included the figures they needed to get to that point (see the last image).
This success story is the outcome – check out below!
 
The project started with them securing an EOI in July ‘20 – which means they started benefitting from the growth of the market at that point.
  Investment Property Success Story Details:

  • Land settlement: March ‘21.
  • Purchase price: $506,000 (full turnkey, with ducted a/c)
  • Expected rent: $490pw
  • Handover/Build Complete: Jan 2022
  • Comparable packages are now selling for approx. $730K!
  • Actual rent achieved: $630pw – yaaaaas!!
 
This property is located in one of SEQLD’s fastest-growing regions. Rest assured, there is still PLENTY of gas left in the tank for continued capital growth and uplift in rental yield. How good!?
The commitment and focus to getting their financial future back on track is an inspiration.
 
Now they have a bucket load of equity in their property which places them in a much better position than 4 years ago.
 
Let us know what you think of this success story. 

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