We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #45
Chris is an Army Officer posted to Townsville in his mid-20s. He first came to us in late 2020.
He bought a house for his parents to live in the year before. What a wonderful gesture! He acknowledged that this purchase was mainly a lifestyle one. No issues with that.
However, the property had usable/available equity… so we put a plan in place with the mortgage broker to access this equity for the deposit and costs to acquire a brand-new investment property to allow Chris to keep moving towards his goals. This structure meant that Chris preserved his cash holdings for increased risk management.
What you see here is the outcome of the brand-new property. Check out these stats; they’re IMPRESSIVE!
- Purchase price: $510K (FULL turn-key package, ducted a/c etc)
- Land settlement: 30 June 2021
- Key handover: 30 August 2022 (incl. 66 days of construction delays)
- Expected rent at EOI: $475pw
- Actual rent: $650pw (that’s an additional $9Kpa in rental income!)
Comparable properties a few streets away are now selling for approx. $750K.
You’re probably surprised to learn that it’s (only) a 300m2 block with a 180m2 house. A ‘pretty standard land and build package’. But the stats tell us one essential thing: choosing the location is WAY more important than agonising over land, house size/design, etc. The stats don’t lie. The old saying ‘the rising tide lifts all boats’ is undoubtedly true.This property is located within a massive master-planned community on the Sunshine Coast. Usually, I do not disclose the location.
However, with entry levels now being in the current price range, most of our clients will get better value elsewhere. Don’t misinterpret me; the Sunshine Coast has plenty of growth and potential to come – those that already invested in the area have likely benefited the most.
I did a Facetime with Chris when he attended the key handover. Understandably, he was beaming. That happiness was still resonating when we did his end-of-build coaching session recently. He’s a great bloke on his way to securing his financial future!
And for an ADF member who placed family first, he deserves all the success coming his way.