Potential Subdivision Buy-Hold 6.56% Gross Yield
WE MIGHT BE LOCKED DOWN but property purchase kept going. Purchase #44 by Easy Buyer's Agent for our repeat investor. Purchase price: $250,000, 4-bedders R15/25 sitting on 711sqm. And with a frontage of more than 21m, this property is indeed very versatile. Read on.
Our Buyers are repeat investors of ours. They are in the process of adding more into their portfolio.
In this very hot WA property market, finding a deal is getting more and more challenging. With multi-offers on the table almost 100% of the time, unless one is very courageous with price, then be prepared to lose. This brings the dilemma of "since market is rising, buy anyway" VS "move on rather than overpaying". When it comes to purchasing property, regardless of where the market direction is, Easy Buyer's Agent follows some strict rules to ensure the property we buy is of the highest quality.
This particular property was indeed very interesting. It was a 4x1 sitting on a 711sqm land that was zoned R15/25. Suburb vacancy rate is currently sitting at 0.4%. Even some 3x1s have recently been rented out for as high as $350/week. In regards to the suburb, REIWA has reported a 14.3% growth in the past year and median price is currently sitting at $320,000.
It was a "no-brainer" that we must pursue this property. While our buyer could not negotiate much on the asking price, however, looking at the data, it was an opportunity too good to be missed. Many 4x1s have sold for more than $300,000, and 4x2, even more at $350,000+. This made the options to be endless. From adding a bathroom to increase equity, potential subdivision of 2-street-fronts lands, to the 7%+ gross yield positive gearing...there are so many strategies that can be applied here.
Looking to buy property in WA? You know who to call. We have more than 20 strategies to profit from property. We have helped Owner Occupier, First Home Buyer or Investor buying great quality property. Let's chat property, consultation is free.
Until the next purchase. Peace.