We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #72
This is another story of massive commitment over a few years, with a couple of twists no one saw coming… We first met Mick and Hannah back in Aug 2020. They are a Defence couple in Townsville in their mid-30s with 3 kids. Sound familiar?
Mick is an Army Air Crewman with over 12 years of service, and Hannah was caring for their children and doing some hobby photography on the side.
With some enduring expenses over the preceding years, Mick and Hannah did not have their deposit and costs saved. That’s more than okay. If one is not ready now, they need coaching, mentoring and guidance even more! Enter Axon.
In April 2021, we helped Mick and Hannah submit an EOI on their first investment property. The land was not expected to register for another 12+ months. This afforded them the opportunity to keep saving, all the while benefiting from the market.
Twist 1: Whilst awaiting land registration, Axon parted ways with the original builder (they wanted to charge $50K more on the build). This meant Mick and Hannah had to review and approve new plans with a new builder. They took it really well, and we were able to secure them a better package with only a $15K increase.
What you’re seeing here is the outcome of that property – 𝗰𝗵𝗲𝗰𝗸 𝗼𝘂𝘁 𝘁𝗵𝗲𝘀𝗲 𝘀𝘁𝗮𝘁𝘀:
* Purchase price: $536K (FULL turn-key)
* Same land and build value now: ~$700K!!
* Rental income at EOI: $420pw
* Actual rent achieved: $535pw
The property is located in a massive master-planned estate in the Western Corridor of Brisbane. The forecasted population growth and infrastructure planned for the region will provide years of low-risk capital growth. The performance of this first property meant they could likely expand on their portfolio with another investment property.
Twist 2: During the recent end-of-build coaching session, Mick informed me of an unplanned medical discharge that was possibly looming. The family is settled in TVL and Hannah is now producing income from her photography business.
Rapid plan update: Mick and Hannah have now placed an offer on buying their own home in TVL. With DHA not being an option for a couple of months, they needed to secure suitable housing for their family.
Without the capital growth (and resulting equity) from IP#1, which they are now using for the deposit to buy their own home, Mick and Hannah would be in a very difficult situation.
They are so grateful for working with Axon over the last few years. This story still has a bit to play out, so watch this space…