Mitch and Brooke came to us in Jan 2021. Living in Sydney, Mitch is in the Army (7 years service), and Brooke was studying Nursing whilst being a Retail Supervisor.

As we gained some insights into what they needed from Axon, they stated to us, “Brooke and I have never owned a property before and are interested in some assistance in entering the property market. As Axon is directed towards serving and ex-serving veterans, I believe your business will help us understand my benefits and direct them to most effective use.”

With a posting to SEQLD on the cards, we explored 2 COAs: buying their own home (PPOR) using their ADF and Govt housing entitlements; or buying IP#1 (and have the tenant and taxman pay the mortgage). After we crunched the numbers, it was decided COA 2 would be adopted.
What you’re seeing here is the outcome of their first brand-new investment property. There is a bit of a twist in this one, so check out the stats below:
* Purchase price: $530K (FULL turn-key package)
* Site start: Sept 2021
* Key handover: Feb 2023 (161 days of construction delays)
* Expected rent at EOI: $500pw
* Actual rent: $650pw
* Estimated value now ~$730K (~$200K capital growth)

This is a super-modern 4Br terrace house located in a master-planned community in SEQLD. As you can see from the photos, it’s an amazing property. This is one of six terrace houses, all built together. The dates tell us the house was built right in the middle of the nationwide material and trade delays, combined with some constant and terrible weather events. A contributing factor to the extended delays was access to timber for the frame and trusses.

Let’s not sugar-coat this… the delays were not nice to be a part of. The clients paid additional interest on the loan. Our build support team were frustrated, having to constantly ask for updates from the builder – and often getting crickets… FFS. That being said, Mitch and Brooke were super-happy on their end-of-build coaching call and very appreciative of the support we provided them. This success story highlights their resilience and dedication to riding out the bumps, which has resulted in the property doing exactly what was planned, extra $150pw rent and $200K of capital growth.

Going forward, we will pause for 6-12 months, so Mitch and Brooke can reset everything. Then we will put a plan in place for what’s next.