We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #31
Welcome to our latest Success Story. She is a 25yo Army officer that came to us with about $85K saved. She has only been serving for six years. Clearly, she has an excellent money mindset!
Being posted to Enogerra in Brisbane, she could have pulled the trigger on her HPAS & DHOAS. Noting the budget for the price range we were constrained by; this would have seen her buy in an outer area, a long way from her work.
However, after a strategy session with us crunching the numbers and discussing COAs, it was decided that the highest and best use of her funds would be to acquire a brand new investment property in a high-growth area instead. Holding onto her entitlements until the time was right.
This would see the tenants and the taxman pay off her house.
With long-term posting prospects around various units of 7 BDE, she simply did not want to be stuck, slugging away at her own mortgage and commuting a long distance to and from work.
- Purchase price: $467K
- Build timeline was the majority of 2021
- Bank valuations of comparable properties are $620K!
- Rent: $460pw
Besides, her RA property suited her needs, so her housing situation did not have to change. Using your RA is still benefiting from your ADF housing entitlements – cheap rent!
Check out the quality of this ‘investment property’. It would pass for most people’s dream home! The capital growth and rental income are fantastic contributions to kick-starting this young Army Officer’s portfolio!
Let us know what you think of this property and this success story.