6.7% Gross Yield Buy-Hold Below Market Purchase
HOLY SHHHPROPERTY...Purchase #39 by Easy Buyer's Agent. It has been a busy month, stay tuned because there will be few more purchases coming up. Asking $249,000, Purchase $225,000. Currently tenanted $290/week until November 2021 = gross yield of 6.7%. Read on
Our Buyer is a 22-year-old who is starting his property investing journey and wanting to start to build his portfolio.
Within one day of signing, we found a matching property for him. When we found this property which tenancy (at $290/week) started only few weeks ago (and running until November 2021), we were immediately interested. At asking price it was already returning 6%. However, using negotiated tactic we managed to buy it for $225,000. This instead, gives 6.7% gross yield.
Domain valuation says $275,000. Suburb median is $269,000 which 12-month growth shows 8.5%. Vacancy rate is sitting at 0.8%. And here we are buying it at $225,000. Awesome.
Looking to buy property in WA? You know who to call. Whether you are First Timers, Investors, Owner Occupiers, First Home Buyers we can help you finding great property deals. Consultation is free and let's just chat property.
Until the next purchase. Peace.