We were offered OFF-MARKET a unique 3 bedroom, 1 bath, 2 parking home on a large flat block of land (809sqm) located in a main coastal town which is north of Brisbane, Queensland. We avoided Queensland mining towns, locations on flood plains, and instead we targeted towns with multiple industries that creates the locations growth drivers.
This property is located close to town centre as well as sporting and recreation facilities, shops, cafes and restaurants. But what really stood out as an excellent opportunity is this property is only 1.3km to the main public hospital, and 1.2km to the main private hospital in the area which provides additional opportunities for this property.
The offer accepted on this property was $377,000.
The original rental appraisal on this property was $410-$440 per week. However, we secured a new tenant with a rental increase to $465 per week which brought the yield to 6.41%.
This purchase aligned with our client’s strategy and we successfully bought well under their budget, with positive cash flow and in a good growth suburb.
The advantages we had above the competition:
- We were offered this property off-market and completed our due diligence quickly.
- Our market comparison identified the true value of this property.
- We have purchased in the area before and understand the rental market, so knew we could obtain a good yield.
- Sellers take offers from Buyer’s Agents seriously because our clients are pre-qualified.
- We are expert negotiators. We know how to put pressure onto a vendor to accept our offer. We are not emotional so are ready to move on if the numbers don’t stack up for our client’s needs.
