Brisbane Buyers Agent Results Durack When It Stinks and no one else wants to even look at a property, I am there rubbing my hands together becuase I know I have a bargain coming up. This Durack Investment Property is a 4 bedroom 2 bathroom brick and tile house on 450 m2 of land within 15 kilometres of the Brisbane CBD. Unfrtunately the tenants had been mistreating the property, It stank of pets, the carpets were dirty and worn out and it needed a good paint.
We all know housing prices are driven by demand and when you have a property that no one wants to even look at becuase of the dirt and odors. I know this can all be cleaned up with a good bond clean and some paint and carpets. Lees than $10,000 in costs to us. So the secret to this property was to secure it for well below the $500,000 asking price.
I was able to successfully negotiate a purchase price of $480,000, a savings of $20,000 which allowed the buyer enoufh funds to clean the property up, recarpet and repaint.
Results
This property was purchased on the 14th of May 2021 for $480,000. It has been rented out since then for $490 per week giving it a return of 5.3%. The property across the road, 39 Treeline shoes land size is 50 m2 smaller and the floor plan is far inferior to this property and has multiple offers over $650,000.
Today in just 3 years the property is now valued at $750,000
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