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Below Market Purchase 6.0% Gross Yield Buy-Hold

LET'S GOOOOOO...Purchase #81 by Easy Buyer's Agent. You must pardon our excitement because buying property in this market has not been easy for us. Asking price: $489,000+. Purchase price: $470,000. This property was located in a suburb with median price of $730,000, and property on the same street has sold for $600k+. Vacancy rate is 0.6%. Read on.

BRIEF:
Our client was a first time investor and looking to accumulate into his portfolio.

PROPERTY STORY:
Our client was interested more in potential equity growth than rental yield. When we spotted this property we were immediately interested. We knew the area had way higher median price than the asking price. When we viewed the property, we asked the agent why this was the case. Apparently, the property was tenanted which the tenant was in the process of moving out. Many potential buyers couldn't see pass the tenants' items within the property.

We get our buyer to get organised right away. While everybody was looking the other way, we put an offer down. Long story short, our buyer got the property. This property had stone-bench throughout, ducted aircon, 900mm oven, custom cabinets below the kitchen table, study nook and theatre room ie. features that could potentially lift the value of the house. After our offer get accepted, the agent told us she had way more inquiries after that. We're not surprised, this property was good. 

Property sat on 400+sqm of land in a suburb with median price of $730,000 and vacancy rate of 0.6%. Based on current rental data, property should be able to fetch $550+/week, making it 6%+ gross yield.

 

Looking to buy property in WA? You know who to call. Let us deal with all the stress and the endless driving, and help you buy property with the best potential possible. Consultation is free and let's just chat property. Until the next purchase. Peace.