We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #37
Welcome to another ripper Success Story! Greg is a good mate of mine from many years ago when we were whipper-snappers playing Army footy (AFL) together. He and his wife, Brooke, reached out to me about property – I asked them to watch our video training series, and they booked a coaching session with me in early 2020.
As an ex-field engineer, Greg is a site manager of various projects, overseeing the building of large-scale Government infrastructure sites. Brooke has her own career, contributing to the local industry in the waste management sector.
Living comfortably in their beautiful home on the Sunny Coast, they discovered in the video series that they were ‘stuck in the 30-year mortgage trap’.
In their early 50’s, with two teenage kids, a Y-Junction of their financial future dawned upon them. Enter Axon.
What you see here is the outcome of their first investment property. I did a video with Greg in the kitchen a few weeks ago at key handover (you may have seen it). Brooke could almost see his smile from the Sunshine Coast!
- Purchase price: $567K (split-level house, full turn-key package with ducted a/c, large back yard etc.)
- Site start: 12th Aug 2021
- Key handover: 24th June 2022 (incl. 130 days of construction delays)
- Expected rent at EOI: $460pw
- Actual rent: $630pw (only three days to find tenants!)
- Comparable properties a few streets away are now selling for approx. $800K!
This property is located within a massive master-planned community in SEQLD (not Sunny Coast). I’ve included some of the photos at the FRAME stage, so you can see what was then to what is now!
I asked Greg about how he felt now, after enduring such long build delays. Whilst he was understandably frustrated during the build, now the tenants are in paying the mortgage, the capital value has risen so much, and they have substantial future tax benefits… the feeling of the build delays has literally fallen away into nothing…
Looking ahead, Greg and Brooke are already planning for IP#2. That Y-Junction choice they made is already paying off, and the vision of what their retirement will be like is great to be a part of.