Success Story

ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #82

Welcome to the last success story of 2023. I sincerely hope ๐Ÿ™ you have enjoyed the stories and gained some insights into what other people in the Defence community, just like you, are doing on their property journey. This one is no exception!

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Becky first came to us in Sept โ€˜22. Her boyfriend (an Army Sniper, Barry) had already built his first investment property with us in 2021. Becky was observing the process Barry went through with Axon and liked what she saw. ๐Ÿง


She stated: ๐ด๐‘“๐‘ก๐‘’๐‘Ÿ ๐‘ก๐‘Ž๐‘™๐‘˜๐‘–๐‘›๐‘” ๐‘ก๐‘œ ๐‘“๐‘Ÿ๐‘–๐‘’๐‘›๐‘‘๐‘ , ๐‘“๐‘Ž๐‘š๐‘–๐‘™๐‘ฆ, ๐‘๐‘œ๐‘™๐‘™๐‘’๐‘Ž๐‘”๐‘ข๐‘’๐‘  ๐‘Ž๐‘›๐‘‘ ๐‘ ๐‘’๐‘’๐‘–๐‘›๐‘” ๐ต๐‘Ž๐‘Ÿ๐‘Ÿ๐‘ฆโ€™๐‘  ๐‘—๐‘œ๐‘ข๐‘Ÿ๐‘›๐‘’๐‘ฆ ๐‘Ž๐‘›๐‘‘ ๐‘ ๐‘ข๐‘๐‘๐‘’๐‘ ๐‘  ๐‘ค๐‘–๐‘กโ„Ž โ„Ž๐‘–๐‘  ๐‘–๐‘›๐‘ฃ๐‘’๐‘ ๐‘ก๐‘š๐‘’๐‘›๐‘ก ๐‘๐‘Ÿ๐‘œ๐‘๐‘’๐‘Ÿ๐‘ก๐‘ฆ, ๐ผ ๐‘Ž๐‘š ๐‘Ÿ๐‘’๐‘Ž๐‘‘๐‘ฆ ๐‘ก๐‘œ ๐‘ ๐‘ก๐‘Ž๐‘Ÿ๐‘ก ๐‘š๐‘ฆ ๐‘œ๐‘ค๐‘› ๐‘๐‘œ๐‘Ÿ๐‘ก๐‘“๐‘œ๐‘™๐‘–๐‘œ. ๐ผ โ„Ž๐‘Ž๐‘ฃ๐‘’ ๐‘›๐‘œ ๐‘–๐‘‘๐‘’๐‘Ž ๐‘คโ„Ž๐‘’๐‘Ÿ๐‘’ ๐‘ก๐‘œ ๐‘ ๐‘ก๐‘Ž๐‘Ÿ๐‘ก, ๐‘Ž๐‘›๐‘‘ ๐ผ ๐‘กโ„Ž๐‘–๐‘›๐‘˜ ๐ด๐‘ฅ๐‘œ๐‘› ๐‘”๐‘œ๐‘’๐‘  ๐‘Ž๐‘๐‘œ๐‘ฃ๐‘’ ๐‘Ž๐‘›๐‘‘ ๐‘๐‘’๐‘ฆ๐‘œ๐‘›๐‘‘ ๐‘ก๐‘œ ๐‘’๐‘ฅ๐‘๐‘™๐‘Ž๐‘–๐‘› ๐‘กโ„Ž๐‘’ ๐‘๐‘Ÿ๐‘œ๐‘๐‘’๐‘ ๐‘  ๐‘Ž๐‘›๐‘‘ ๐‘ก๐‘’๐‘Ž๐‘โ„Ž ๐‘กโ„Ž๐‘’๐‘–๐‘Ÿ ๐‘๐‘™๐‘–๐‘’๐‘›๐‘ก๐‘  ๐‘Ž๐‘™๐‘™ ๐‘Ž๐‘๐‘œ๐‘ข๐‘ก ๐‘–๐‘›๐‘ฃ๐‘’๐‘ ๐‘ก๐‘š๐‘’๐‘›๐‘ก ๐‘๐‘Ÿ๐‘œ๐‘๐‘’๐‘Ÿ๐‘ก๐‘–๐‘’๐‘ , ๐‘ ๐‘œ ๐ผ ๐‘Ž๐‘š ๐‘ฃ๐‘’๐‘Ÿ๐‘ฆ ๐‘’๐‘ฅ๐‘๐‘–๐‘ก๐‘’๐‘‘ ๐‘ก๐‘œ ๐‘™๐‘’๐‘Ž๐‘Ÿ๐‘›, ๐‘”๐‘Ž๐‘–๐‘› ๐‘’๐‘ฅ๐‘๐‘’๐‘Ÿ๐‘–๐‘’๐‘›๐‘๐‘’ ๐‘Ž๐‘›๐‘‘ ๐‘กโ„Ž๐‘’๐‘› ๐‘œ๐‘›๐‘’ ๐‘‘๐‘Ž๐‘ฆ ๐‘๐‘’ ๐‘Ž๐‘๐‘™๐‘’ ๐‘ก๐‘œ ๐‘๐‘ข๐‘–๐‘™๐‘‘ ๐‘กโ„Ž๐‘’ ๐‘‘๐‘Ÿ๐‘’๐‘Ž๐‘š โ„Ž๐‘œ๐‘š๐‘’.


During the coaching series, Beckyโ€™s guidance to me was to ensure she could own this first property ๐Ÿ  by herself. She had a good amount of cash saved up and was working 2 jobs, so on the surface, things were looking positive. However, one of the jobs was based in the US, so approx. 50% of Beckyโ€™s income was foreign. This presented issues with banks here in Australia.

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After much consultation regarding the incomes with Deb, the mortgage broker, it was decided that Becky could not proceed with her first property alone. She was standing at a T-Junction. (Please take in what happens next closely).
Deb outlined a scenario where Barry could join Becky as a โ€˜co-borrowerโ€™. That is, Becky is solely on the contract, and Barry combines his income to make the numbers work. They live together. They are effectively in a de facto relationship, so it made sense to structure it this way. ๐Ÿ‘


๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ญ๐ก๐ž๐ฌ๐ž ๐ฌ๐ญ๐š๐ญ๐ฌ ๐Ÿ๐จ๐ซ ๐๐ž๐œ๐ค๐ฒโ€™๐ฌ ๐Ÿ๐ข๐ซ๐ฌ๐ญ ๐ข๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ฒ; ๐ญ๐ก๐ž ๐ฉ๐ก๐จ๐ญ๐จ๐ฌ ๐š๐ซ๐ž ๐ฌ๐ญ๐ฎ๐ง๐ง๐ข๐ง๐ :
* Purchase price: $623K
* Land settlement: March 2023
* Key handover: November 2023 (zero delays in the build)
* Same land and build value now: ~$685K
* Rental income: $540pw (only took 5 days to find tenants!)


This property is located in a massive master-planned community in the South-Western growth corridor of Brisbane. They are building a new city with 150,000 residents over the next 15+ years, so Becky has ๐Ÿฆ˜ jumped in early!
Fast forward to now, Becky and Barry are already partway through the build for IP#3. This was done as a traditional ๐Ÿซ‚ joint purchase, which makes things smoother in the finance space.

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This week, we received a review from Becky about her experience using Axon:
๐ด๐‘ฅ๐‘œ๐‘›’๐‘  ๐‘ข๐‘›๐‘ค๐‘Ž๐‘ฃ๐‘’๐‘Ÿ๐‘–๐‘›๐‘” ๐‘ ๐‘ข๐‘๐‘๐‘œ๐‘Ÿ๐‘ก, ๐‘คโ„Ž๐‘’๐‘กโ„Ž๐‘’๐‘Ÿ ๐‘กโ„Ž๐‘Ÿ๐‘œ๐‘ข๐‘”โ„Ž ๐‘ก๐‘’๐‘ฅ๐‘ก, ๐‘๐‘Ž๐‘™๐‘™๐‘ , ๐‘œ๐‘Ÿ ๐‘’๐‘š๐‘Ž๐‘–๐‘™๐‘ , ๐‘ค๐‘Ž๐‘  ๐‘–๐‘›๐‘ฃ๐‘Ž๐‘™๐‘ข๐‘Ž๐‘๐‘™๐‘’, ๐‘Ž๐‘‘๐‘‘๐‘Ÿ๐‘’๐‘ ๐‘ ๐‘–๐‘›๐‘” ๐‘š๐‘ฆ ๐‘ ๐‘–๐‘™๐‘™๐‘ฆ ๐‘ž๐‘ข๐‘’๐‘ ๐‘ก๐‘–๐‘œ๐‘›๐‘  ๐‘Ž๐‘›๐‘‘ ๐‘๐‘œ๐‘›๐‘๐‘’๐‘Ÿ๐‘›๐‘  ๐‘ค๐‘–๐‘กโ„Ž ๐‘๐‘Ž๐‘ก๐‘–๐‘’๐‘›๐‘๐‘’ ๐‘Ž๐‘›๐‘‘ ๐‘’๐‘ฅ๐‘๐‘’๐‘Ÿ๐‘ก๐‘–๐‘ ๐‘’. ๐‘‡โ„Ž๐‘’๐‘–๐‘Ÿ ๐‘๐‘œ๐‘š๐‘š๐‘–๐‘ก๐‘š๐‘’๐‘›๐‘ก ๐‘ก๐‘œ ๐‘˜๐‘’๐‘’๐‘๐‘–๐‘›๐‘” ๐‘š๐‘’ ๐‘ค๐‘’๐‘™๐‘™-๐‘–๐‘›๐‘“๐‘œ๐‘Ÿ๐‘š๐‘’๐‘‘ ๐‘Ž๐‘ก ๐‘’๐‘ฃ๐‘’๐‘Ÿ๐‘ฆ ๐‘ ๐‘ก๐‘Ž๐‘”๐‘’ ๐‘œ๐‘“ ๐‘กโ„Ž๐‘’ ๐‘๐‘Ÿ๐‘œ๐‘๐‘’๐‘ ๐‘  ๐‘’๐‘›โ„Ž๐‘Ž๐‘›๐‘๐‘’๐‘‘ ๐‘š๐‘ฆ ๐‘ข๐‘›๐‘‘๐‘’๐‘Ÿ๐‘ ๐‘ก๐‘Ž๐‘›๐‘‘๐‘–๐‘›๐‘” ๐‘Ž๐‘›๐‘‘ ๐‘๐‘œ๐‘›๐‘“๐‘–๐‘‘๐‘’๐‘›๐‘๐‘’.


๐‘‡โ„Ž๐‘’ ๐‘’๐‘›๐‘‘ ๐‘Ÿ๐‘’๐‘ ๐‘ข๐‘™๐‘ก ๐‘œ๐‘“ ๐‘š๐‘ฆ โ„Ž๐‘œ๐‘ข๐‘ ๐‘’ ๐‘ค๐‘Ž๐‘  ๐‘›๐‘œ๐‘กโ„Ž๐‘–๐‘›๐‘” ๐‘ โ„Ž๐‘œ๐‘Ÿ๐‘ก ๐‘œ๐‘“ ๐‘š๐‘Ž๐‘”๐‘–๐‘๐‘Ž๐‘™, ๐‘Ž๐‘›๐‘‘ ๐‘ค๐‘–๐‘ก๐‘›๐‘’๐‘ ๐‘ ๐‘–๐‘›๐‘” ๐‘–๐‘ก ๐‘–๐‘› ๐‘๐‘’๐‘Ÿ๐‘ ๐‘œ๐‘› ๐‘ค๐‘Ž๐‘  ๐‘Ž ๐‘ก๐‘Ÿ๐‘ข๐‘™๐‘ฆ ๐‘ ๐‘๐‘’๐‘๐‘–๐‘Ž๐‘™ ๐‘š๐‘œ๐‘š๐‘’๐‘›๐‘ก. ๐‘‡โ„Ž๐‘Ž๐‘›๐‘˜๐‘  ๐‘ก๐‘œ ๐‘กโ„Ž๐‘’ ๐‘’๐‘ฅ๐‘๐‘’๐‘๐‘ก๐‘–๐‘œ๐‘›๐‘Ž๐‘™ ๐‘ก๐‘’๐‘Ž๐‘š ๐‘Ž๐‘ก ๐ด๐‘ฅ๐‘œ๐‘›, ๐ผ ๐‘Ž๐‘š ๐‘›๐‘œ๐‘ค ๐‘œ๐‘› ๐‘Ž ๐‘๐‘™๐‘’๐‘Ž๐‘Ÿ ๐‘๐‘Ž๐‘กโ„Ž ๐‘ก๐‘œ๐‘ค๐‘Ž๐‘Ÿ๐‘‘ ๐‘Ž๐‘โ„Ž๐‘–๐‘’๐‘ฃ๐‘–๐‘›๐‘” ๐‘š๐‘ฆ ๐‘”๐‘œ๐‘Ž๐‘™. ๐ผ ๐‘๐‘œ๐‘ข๐‘™๐‘‘๐‘›’๐‘ก ๐‘๐‘’ โ„Ž๐‘Ž๐‘๐‘๐‘–๐‘’๐‘Ÿ ๐‘ค๐‘–๐‘กโ„Ž ๐‘กโ„Ž๐‘’ ๐‘’๐‘›๐‘‘ ๐‘Ÿ๐‘’๐‘ ๐‘ข๐‘™๐‘ก, ๐‘Ž๐‘›๐‘‘ ๐ผ ๐‘’๐‘ฅ๐‘ก๐‘’๐‘›๐‘‘ ๐‘š๐‘ฆ โ„Ž๐‘’๐‘Ž๐‘Ÿ๐‘ก๐‘“๐‘’๐‘™๐‘ก ๐‘”๐‘Ÿ๐‘Ž๐‘ก๐‘–๐‘ก๐‘ข๐‘‘๐‘’ ๐‘ก๐‘œ ๐ด๐‘ฅ๐‘œ๐‘› ๐‘“๐‘œ๐‘Ÿ ๐‘š๐‘Ž๐‘˜๐‘–๐‘›๐‘” ๐‘กโ„Ž๐‘–๐‘  ๐‘ ๐‘–๐‘”๐‘›๐‘–๐‘“๐‘–๐‘๐‘Ž๐‘›๐‘ก ๐‘š๐‘–๐‘™๐‘’๐‘ ๐‘ก๐‘œ๐‘›๐‘’ ๐‘–๐‘› ๐‘š๐‘ฆ ๐‘™๐‘–๐‘“๐‘’ ๐‘๐‘œ๐‘ ๐‘ ๐‘–๐‘๐‘™๐‘’.


๐Ÿ”ฅ What a way to finish our success stories for 2023โ€ฆ I promise you, there are many, many more to come in 2024 ๐Ÿฅ‚ – our clients are building cracking houses right now and I cannot wait to share them with you!