We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #28
We first had the pleasure of coaching this ADF couple way back in early 2020. He was posted to HMAS Cerberus as an instructor and she was a disability support worker. They had equity in a property in Cairns and they wanted to get started with a brand new investment property.
Nek minute: COVID-19 strikes, plunging greater Melbourne into extended lockdown (we all know how that played out!). She was unable to work, so their plans of acquiring another property came to an abrupt halt.
Fast forward to April 2021, Melbourne starts to emerge from its lockdown and we restart the plan for them. After experiencing some turbulence, we decided that accessing equity from the Cairns property for the full amount of deposit and costs (D&C) was the smartest move to protect their cash holdings.
What you’re seeing is the outcome of their first property with Axon!
It’s located in one of SEQLD’s fastest-growing regions. They’re building a city the size of Darwin there over the next 10-15 years. I have included an image of the proximity of the property in relation to the established and future infrastructure.
Investment Property Success Story Details:
- Purchase price: $449K (full turnkey)
- Site Start: June 2021
- Build complete: March 2022
- Comparable packages are now selling for approx. >$600K
- Rent: $440pw (which will jump to almost $500pw later this year)
Whilst 125 days delay might seem undesirable, the ~$150K of capital growth is a nice compensator!
Now living in Darwin with him on the Patrol Boats, looking ahead, they have received a fresh borrowing capacity report from their mortgage broker. This healthy report, coupled with the equity in this property, will allow them to roll straight into another investment property, without using any of their own cash. How good?!
Even with a 12-month tactical pause at the beginning, they are stoked with how their property portfolio is ticking along. We love being on their team to make it all happen!