Overview
Doolandella Investment Property purchased $15,000 below the asking price for overseas investors. This is an example of the type of investment properties I seek out for my clients. The property has 4 good sized bedrooms with walk-in robes and ceiling fans in each room, 2 bathrooms, one being the ensuite in the master bedroom, a good-sized double lockup garage on 535m2 of land.
Purchase Type
Off Market Transaction. This property was purchased prior to being offered to the public. I have had a strong relationship with this agency for over 15 years. They provide me with a strong list of properties coming on to the market which allows me to avoid competition from members of the public.
Negotiations
The asking price for the property was $550,000, yet our offer of $535,000 was accepted by the vendors which in this current seller’s market is just about unheard of with most buyers having to pay more for a property than what they would have had to 6 months ago. Right now with interest rates the lowest, they have ever been we are seeing a surge in market activity in Brisbane and this is leading to very high property prices.
Return on Investment
Weekly Rent = $465 per week
Cost to Finance 100% @ 2.7% = $276 per week
Cash Flow Positive by $189 per week gross.
Return on investment is 4.51%, Gross
