We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #36
Welcome to another heart-warming success story! This is the second property with Axon for Mr and Mrs A. This dual-Army-officer couple are posted to Canberra and they’re 48yo and 50yo respectively.
With approx. 10 years of working life remaining, they’re full steam ahead in wealth creation mode to ensure they’re not just relying on their (substantial) superannuation in retirement.
Their first property with us has grown in capital value by approx. $250K. So when we put the strategy together for the acquisition of this property I am showcasing here, the mantra was: ‘let’s go and replicate what happened the first time!’ Challenge accepted.
Here’s the thing – when you’re at this stage (and age) of life (like I am), we do not have heaps of time to ‘un-fk’ a failed investment event. The sync matrix must be carefully coordinated. The borrowing power and cash-flow analysis must be wired tight. And of course, the prospects of further capital growth must be well-researched.
What you’re seeing here is the outcome of IP#2:
- Purchase price: $505K (FULL turn-key package, ducted a/c etc)
- Land settlement: 25th May 2021
- Site start: 26th July 2021 (it takes approx. 8 weeks for the building approval from Council)
- Key handover: 10th May 2022 (incl. 69 days of construction delays)
- Expected rent at EOI: $440pw
- Actual rent: $550pw (it took only 3 days to find tenants!)
- Comparable properties a few streets away are now selling for approx. $700K!
This property is located within a massive master-planned community in SEQLD. There is a train line, hospital, university and large shopping centre within approx. 2 km of this property. Of course, there is a high demand to live there!
We love the timber look flooring and pendant lights in the kitchen! It’s little wonder this place got snapped up so quickly, for a premium rent. The best thing is that another family gets to live in this great property, helping the current rental crisis.
This is definitely mission accomplishment. This wonderful and humble couple are over the moon with this outcome and they’re already creating a vision for when IP#3 will appear… so good!