Success Story IP#10
How good were the days of deployments?!
Before we were all thrown a massive curveball (otherwise known as Covid-19) the ADF still had some very distinct forces deployed overseas. The subject of this success story was one of those that deployed on one of the very last conventional force rotations.
In fact, he put together the entire plan and submitted the EOI for this property while abroad and came home just in time to put the final touches on it.
This property was actually completed nearly six months ago, so it gives us a good opportunity to show that the performance of this specific area is sustained and likely has a LOT more potential to come.
It is in one of the most highly sought after regions in Australia right now and once the borders open for those in the southern states to migrate again… well, you don’t need a crystal ball to see it’s primed to maintain its trajectory for a little bit longer!
Here’s the details:
- Purchase price (Mar 2020): $525.5K
- Est price at completion (Jul 2021): $580K
- Estimated current price (as at Dec 2021): $640K+
- Estimated capital growth (so far…) : $135K
- Estimated rent at purchase: $490pw
- Actual rent at completion: $580pw
- Estimated current rent – if listed on the open market: $630pw
- Cash flow: Estimated at +$56pw after all costs AND paying making P&I repayments
With all the talk being about the RBA and possible interest rate increases coming your way, you will love to know that even if interest rates raise another 1.5% this property will still have positive cash flow while making the full repayments. It is a prime example of those that are still available on the market – if you know where to look!