Success Story

ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #90

This is one hell of a bitter-sweet success story… keep reading this one. I’ll take you on a journey!


Justin has served 16 years in the Army. Cat, a veteran herself, is a superstar mum and she is a weapon medical receptionist. Justin pulled the trigger on his ADF housing entitlements back in 2013 when he was posted to Enoggera. That property, in a blue-chip area of North Brisbane, performed very well for them. 


After being introduced to us at a client meet-up in Darwin mid-2019, they came on board and built their first property with us (their IP#2). Land settlement December 19, and key handover June 2020. Easy and hassle-free build, they said. That property has risen in value by around $250K, happy days. What a start to their experience with us. LFG!!


Being committed to acquiring investments in their accumulation phase, they dropped an EOI on IP#3 in May 2021. They used equity from IP#1 as the deposit and costs to protect their cash holdings, a smart move for any property investor.


However, the story of the build of this investment property could not be more different.  Justin and Cat knew they were entering into a build process during the CV-19 period. That’s ok, 75+ more Axon clients were doing the same – we got this.


Take a look at this house and the stats. The photos are ah-mazing, and the quality of the build is second to none:
* 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐩𝐫𝐢𝐜𝐞: $𝟓𝟓𝟓𝐊 (𝟒/𝟐/𝟐, 𝐭𝐰𝐨-𝐬𝐭𝐨𝐫𝐞𝐲 𝐭𝐨𝐰𝐧𝐡𝐨𝐮𝐬𝐞, 𝐅𝐔𝐋𝐋 𝐭𝐮𝐫𝐧𝐤𝐞𝐲)
* 𝐋𝐚𝐧𝐝 𝐬𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭: 𝐒𝐞𝐩𝐭 𝟐𝟎𝟐𝟏
* 𝐊𝐞𝐲 𝐡𝐚𝐧𝐝𝐨𝐯𝐞𝐫: 𝐃𝐞𝐜 𝟐𝟎𝟐𝟑 (𝐧𝐨, 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐚 𝐭𝐲𝐩𝐨)
* 𝐒𝐚𝐦𝐞 𝐥𝐚𝐧𝐝 𝐚𝐧𝐝 𝐛𝐮𝐢𝐥𝐝 𝐯𝐚𝐥𝐮𝐞 𝐧𝐨𝐰: ~$𝟕𝟓𝟎𝐊 (𝐧𝐨, 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐚 𝐭𝐲𝐩𝐨 𝐞𝐢𝐭𝐡𝐞𝐫)
* 𝐑𝐞𝐧𝐭𝐚𝐥 𝐢𝐧𝐜𝐨𝐦𝐞: $𝟔𝟓𝟎𝐩𝐰


Being involved in a 2+ year build is not fun (personally, Tamara and I have just completed something similar for our own home). Understandably, the elongated build timeframe took a toll on Justin and Cat. As well as testing their resilience, it depleted their cash holdings substantially. Paying interest on a loan for more than double the expected time will hit anyone’s buffers.


Side note: It also took a toll on the members of Axon that were responsible for fighting for information from the builder, every week. Coming to Axon HQ and delivering news of ‘nothing happening’ or ‘more delays’ was also not fun for them.


Thankfully, it’s all worked out really well for Justin and Cat. They have sold IP#1 for a really good price, topped up their buffers, and still have 2 great investment properties sitting in buoyant markets.


In their own words:
𝑂𝑢𝑟 𝑒𝑥𝑝𝑒𝑟𝑖𝑒𝑛𝑐𝑒 𝑤𝑖𝑡ℎ 𝐴𝑥𝑜𝑛 𝑃𝑟𝑜𝑝𝑒𝑟𝑡𝑦 𝐺𝑟𝑜𝑢𝑝 ℎ𝑎𝑠 𝑏𝑒𝑒𝑛 𝑛𝑜𝑡ℎ𝑖𝑛𝑔 𝑠ℎ𝑜𝑟𝑡 𝑜𝑓 𝑎𝑚𝑎𝑧𝑖𝑛𝑔. 𝑈𝑛𝑑𝑒𝑟 𝑡ℎ𝑒𝑖𝑟 𝑐𝑜𝑚𝑝𝑟𝑒ℎ𝑒𝑛𝑠𝑖𝑣𝑒 𝑔𝑢𝑖𝑑𝑎𝑛𝑐𝑒 𝑎𝑛𝑑 𝑚𝑒𝑛𝑡𝑜𝑟𝑠ℎ𝑖𝑝, 𝑡ℎ𝑒𝑦 ℎ𝑎𝑣𝑒 𝑏𝑒𝑒𝑛 𝑎𝑏𝑙𝑒 𝑡𝑜 𝑖𝑚𝑝𝑙𝑒𝑚𝑒𝑛𝑡 𝑎 𝑡𝑎𝑖𝑙𝑜𝑟𝑒𝑑 𝑝𝑙𝑎𝑛 𝑡𝑜 𝑠𝑢𝑝𝑝𝑜𝑟𝑡 𝑢𝑠 𝑖𝑛 𝑟𝑒𝑎𝑐ℎ𝑖𝑛𝑔 𝑜𝑢𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑔𝑜𝑎𝑙𝑠. 𝐿𝑖𝑘𝑒 𝑒𝑣𝑒𝑟𝑦𝑜𝑛𝑒 𝑏𝑢𝑖𝑙𝑑𝑖𝑛𝑔 𝑎 ℎ𝑜𝑢𝑠𝑒 𝑑𝑢𝑟𝑖𝑛𝑔 𝐶𝑂𝑉𝐼𝐷, 𝑤𝑒 𝑤𝑒𝑟𝑒 𝑛𝑜𝑡 𝑖𝑚𝑚𝑢𝑛𝑒 𝑡𝑜 𝑑𝑒𝑙𝑎𝑦𝑠 𝑠𝑢𝑐ℎ 𝑎𝑠 𝑠𝑢𝑝𝑝𝑙𝑦 𝑎𝑛𝑑 𝑡𝑟𝑎𝑑𝑒 𝑠ℎ𝑜𝑟𝑡𝑎𝑔𝑒𝑠. 𝐻𝑜𝑤𝑒𝑣𝑒𝑟, 𝑡𝑜 𝐴𝑥𝑜𝑛 𝑎𝑛𝑑 𝑡ℎ𝑒𝑖𝑟 𝑝𝑎𝑟𝑡𝑛𝑒𝑟𝑠 𝑐𝑟𝑒𝑑𝑖𝑡, 𝑡ℎ𝑒𝑦 𝑑𝑖𝑑 𝑡ℎ𝑒𝑖𝑟 𝑏𝑒𝑠𝑡 𝑖𝑛 𝑚𝑖𝑛𝑖𝑚𝑖𝑠𝑖𝑛𝑔 𝑡ℎ𝑒 𝑖𝑚𝑝𝑎𝑐𝑡 𝑜𝑛 𝑢𝑠 𝑎𝑛𝑑 𝑒𝑛𝑠𝑢𝑟𝑒𝑑 𝑡ℎ𝑒𝑟𝑒 𝑤𝑎𝑠 𝑐𝑜𝑛𝑠𝑡𝑎𝑛𝑡 𝑐𝑜𝑚𝑚𝑢𝑛𝑖𝑐𝑎𝑡𝑖𝑜𝑛 𝑡ℎ𝑟𝑜𝑢𝑔ℎ𝑜𝑢𝑡.


𝑊𝑒 𝑏𝑒𝑙𝑖𝑒𝑣𝑒 𝑡ℎ𝑒 𝑏𝑒𝑠𝑡 𝑝𝑎𝑟𝑡 𝑎𝑏𝑜𝑢𝑡 𝑤𝑜𝑟𝑘𝑖𝑛𝑔 𝑤𝑖𝑡ℎ 𝐴𝑥𝑜𝑛 𝑖𝑠 𝑡ℎ𝑎𝑡 𝑦𝑜𝑢’𝑟𝑒 𝑛𝑒𝑣𝑒𝑟 𝑓𝑜𝑟𝑔𝑜𝑡𝑡𝑒𝑛 𝑎𝑏𝑜𝑢𝑡. 𝑇ℎ𝑒𝑦 ℎ𝑎𝑣𝑒 𝑐𝑜𝑛𝑡𝑖𝑛𝑢𝑒𝑑 𝑡𝑜 𝑝𝑟𝑜𝑣𝑖𝑑𝑒 𝑜𝑛𝑔𝑜𝑖𝑛𝑔 𝑠𝑢𝑝𝑝𝑜𝑟𝑡 𝑡𝑜 𝑢𝑠 𝑛𝑜 𝑚𝑎𝑡𝑡𝑒𝑟 𝑤ℎ𝑎𝑡 𝑠𝑡𝑎𝑔𝑒 𝑤𝑒’𝑟𝑒 𝑎𝑡 𝑡𝑜 𝑒𝑛𝑠𝑢𝑟𝑒 𝑜𝑢𝑟 𝑝𝑜𝑟𝑡𝑓𝑜𝑙𝑖𝑜 𝑖𝑠 𝑟𝑢𝑛𝑛𝑖𝑛𝑔 𝑎𝑠 𝑖𝑡 𝑠ℎ𝑜𝑢𝑙𝑑 𝑏𝑒.
𝑊𝑒 𝑐𝑎𝑛𝑛𝑜𝑡 𝑡ℎ𝑎𝑛𝑘 𝑡ℎ𝑒 𝑡𝑒𝑎𝑚 𝑒𝑛𝑜𝑢𝑔ℎ 𝑓𝑜𝑟 𝑠𝑢𝑐ℎ 𝑎 𝑠𝑒𝑎𝑚𝑙𝑒𝑠𝑠 𝑒𝑥𝑝𝑒𝑟𝑖𝑒𝑛𝑐𝑒 𝑎𝑛𝑑 𝑤𝑒 𝑤𝑜𝑢𝑙𝑑 ℎ𝑖𝑔ℎ𝑙𝑦 𝑟𝑒𝑐𝑜𝑚𝑚𝑒𝑛𝑑 𝐴𝑥𝑜𝑛 𝑡𝑜 𝑎𝑛𝑦𝑜𝑛𝑒 𝑤ℎ𝑜’𝑠 𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡𝑒𝑑 𝑖𝑛 𝑔𝑎𝑖𝑛𝑖𝑛𝑔 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦 𝑡ℎ𝑟𝑜𝑢𝑔ℎ 𝑝𝑟𝑜𝑝𝑒𝑟𝑡𝑦.


With Justin likely separating from the ADF this year, I sense this is not the last you have heard from him. Watch this space.