We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #49
Welcome to this week’s success story!
We have been honoured to be on M and L’s team since way back in Aug 2018. They built IP#1 with us over the following 12-18 months. I’m very happy to report that the property is still sitting very pretty in a strong and buoyant market – it’s grown in value by at least $250K with a really good rental yield – happy days! The first success story, done
M is in the Navy in Darwin and L is a senior advisor in the resources industry. They both have extremely busy and demanding schedules. As a couple, they have endured this routine since we met, so their combined commitment to the ADF whilst setting up their financial future is unquestionable.
In May 2021, we created a plan and strategy for M and L to acquire IP#2. Since the end of IP#1, they have married and added a child to the family (if they we not busy enough!). The strategy we compiled involved M and L selling an underperforming property they already had, and we used equity from IP#1 for the deposit and costs for IP#2.
What you’re seeing here is the outcome of their current success story:
- Purchase price: $504K (FULL turn-key package)
- Land settlement: Feb 2022
- Key handover: Oct 2022
- Expected rent at EOI: $420pw
- Actual rent: $530pw (it only took 1 day to find tenants!)
- Comparable properties a few streets away are now selling for approx. $650K!
Check out the photos – this is a beautiful home, finished to the highest standards and quality. Steel frame construction, full render and attractive features throughout. No wonder it got snapped up by quality tenants immediately!
Fast forward to now: M has placed in his discharge, WEF 2024. So they are mid-pack for their final ADF posting move. The intent is to utilise their excellent net position from the growth of both properties to launch into their forever home, post-discharge.
As a side note, I’m doing their end-of-build coaching session in 2 weeks, so I can get updated on their crazy, awesome life!
For an ADF couple that placed some faith in us to help them secure their financial future over 4 years ago, we are humbled to deliver these results.
I’m sure the success for M and L is set to continue…
Let us know what you think of this property and this success story!