ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #24

Kieran & Hailinn came to us in June ‘20, wanting to buy their first home whilst posted to SEQLD. Kieran is in the RAAF and Hailinn is a school teacher.

Whilst they did not have enough cash to get started for their deposit and costs on a house straight away, we created a strategy and plan for them to benefit from the market by submitting an EOI, and keep saving until finance approval and land settlement (many months later).

During one of our education sessions, they also realised they could implement the use of their Govt and ADF housing entitlements: HPAS ($11K), QLD FHOG ($15K) and Homebuilder ($25K) – that’s $51K of extra funds they used to get this property underway!

Investment Property Success Story Details:

Purchase price: $494K (full turnkey)
Site Start: Aug 2021
Build complete: Apr 2022
Comparable packages are now selling for approx. $600K!

When they turn this house into an investment property, the expected rent will be >$550pw, and their tax benefits will kick in, so they will have 2 forms of income to service the mortgage and all outgoings. (aka ‘The Self-Licking Icecream!’)

Check out the size of the walk-in pantry and the open flow of the kitchen, dining, living and massive outdoor alfresco.

With just the two of them and a dog, they did not need to overextend themselves and buy their dream home straight up. This is a perfect first property for them that has risen in value, they pulled the trigger on their entitlements at the right time and place, whilst providing a very comfortable place to live during their tenure to SEQLD.

Understandably, Kieran & Hailinn are stoked with this house.

Let us know what you think of this property and this success story!

Success Story

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.