We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #34
This is a story of commitment and ‘playing the long game!’
Ben came to us in Oct 2018 (nearly 4 years ago), looking to get started in the property market – he’s a young Army officer posted to Darwin with about $50K saved. So it was time to get cracking with the planning and acquisition of his first investment property.
However, a few things started to impede Ben’s ability to commit to buying that property, so we put everything on hold to allow him to focus on life events. No issues here, the way we live our lives always supersedes any property-related activities.
After maintaining regular contact with our coaching team and following us on social media, fast forward to mid-2020, Ben was ready to commit to getting his foot on the property ladder.
What you see is the outcome of his first newly built investment property with us. He placed an EOI on a land and build package and placed everything on the shelf for almost a year before the land registered. The good news is that from that point, he was benefitting from the market:
- Purchase price: $450K FULL turn-key
- Land settlement: May 2021
- Key handover: 29 April 2022 (including 97 days of construction delays)
- Tenant signed lease: 2 May 2022 (3 days to find a tenant!)
- Expected rent at EOI: $380pw
- Actual rent: $480pw
- Bank valuations of comparable properties are $620K!
Ben’s feedback on his journey with us: “I’ll be straight up by saying there is no one else in the property world that can do what these guys do! Very highly recommend. The equity in my first property has already grown significantly, and I will be working with them for property #2 & even #3!
Throughout the journey, the service has been fantastic. Axon has always been forward-leaning and transparent at all stages. They not only want you to get the best property you can with your circumstances, but they also want to teach you along the way.
It can be daunting to take the first step into the property realm; however, don’t be afraid; Axon will be there every step of the way to help. Axon is not just a business; it’s a family.”
Yes, Ben is now full-steam ahead into IP#2 – needless to say, his financial future is looking fantastic!