We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #56
Brenton first came to Axon in Sept ‘20. Posted to Tindal, he was an Armament Technician (Gunny) in the RAAF, with almost a decade of service under his belt.
After cleaning up some lingering financial elements to his life, Brenton came to us with limited funds. So, we put him on a 12 month dedicated savings plan. This was coupled with explaining the ‘bank of mum and dad’ strategy. Essentially this would see him use equity from his Mum’s PPOR for this deposit and costs.
This strategy allowed us to source him IP#1 in the western growth corridor of Brisbane. The tenants and tax man would take care of the mortgage and effectively pay off that asset. Good plan, no issues.
In a twist no-one saw coming, very shortly before land settlement, Brenton gets a posting order to RAAF Amberley. Switching to guns, we amended the plan to turn IP#1 into his PPOR. This meant the $15K QLD FHOG was in play, as well as much-reduced stamp duty payments.
What you’re seeing here is the outcome of Brenton’s first brand new home:
* Purchase price: $474K (FULL turn key package)
* Site start: June 2022
* Key handover: Feb 2023
* Comparable properties a few streets away are now selling for approx. $650K
The timber look flooring and pendant lights over the kitchen bench are amazing. As you’ll see from the photo of Brenton and Axon team and handover, he is stoked with the outcome.
I have also included the feedback Brenton provided us to really bring to life his experience during the whole journey.
Looking ahead, Brenton and his partner, Brenna are loving being in their own home. They are getting married next year, they’re being posted to Canberra so Brenton can become a RAAF ENGO, and they’ll start a family over the next few years. In the meantime, their PPOR will become IP#1, so the tenant and the tax man can pay the asset off!
Let us know what you think of this property and the success story!