We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #68
Nick and Clair have taken massive steps to secure their financial future with us over the last few years. This success story is IP#2 for them. The property is a stand-alone success story in itself – however, when you couple it with their personal, professional and financial growth, it’s a wonderful tale of inspiration! 🙂
Nick first came to Axon in Oct 2018. He was in the Army with 12 years service. He already had IP#1 that was sitting idle in the market. After discussing options with the mortgage broker, it was determined he was unable to grow his portfolio as a single member. No probs, we take a tactical ⏸️ pause.
Fast-forward ⏩ 12 months, Nick and Clair return to Axon, as a couple. Clair was also in the Army, with a couple of years under her belt. This is their game-changer moment. This bumps their borrowing power and funds made available to easily expand their portfolio to get IP#2. The property they acquired with us in 🌅 Sunny Coast was completed in Aug 2020. Purchase price $564K; the value now >$850K. A decent outcome. 🤗
As one would expect, Nick and Clair rolled straight into another property. Along the way, it was decided that Nick would sell the original IP to release some of that debt. They already had plenty of equity from the new IP#1, so they used that as the D&C for IP#2.
𝗖𝗵𝗲𝗰𝗸 𝘁𝗵𝗶𝘀 𝗼𝘂𝘁!
* Purchase price: $660K (unfortunately they incurred a $20K price rise from the builder)
* EOI submitted: May 2021
* Land settlement: Aug 2022 (not a typo – it took a looong time for the land to register!)
* Key handover: May 2023
* Rent: $610pw
* Comparable properties a few streets away are now selling for approx. $820K!!
The numbers are impressive. They never lie. That said, it ended up being a 2-year project. It was sh*t they copped a $20K price rise from the builder. 😥 At that time, it was commonplace. Thankfully that does not happen anymore.
The property is located in a master-planned community in Brisbane’s Bayside region. There are years of sustained and low-risk growth coming their way.
Looking ahead, Nick has now commissioned and he is loving life as an Army Officer. I know that exact feeling all too well! Clair has since transitioned and is an Accountant. Of particular note, they have a beautiful daughter 👨👩👧 and they both beam when I ask about parenting. How good!?
We can’t wait to see what’s next for this superstar couple!