Real Property Advice Case Study
Sunshine Coast with Growth Potential
Real Property Advice (RPA) was engaged by a client to source a suitable investment for their portfolio with the following criteria:
- Sunshine Coast based house
- Take advantage of infrastructure projects
- Neutral or positive geared
- Good condition with minimal work to be done
- Good walk score for position
- Under $400,000
RPA discussed with the client about the difference type of properties and locations on the Sunshine Coast and how that can impact the price and the quality of the property. We also outlined the locations set to benefit the most from the infrastructure building and the differences in new vs old property in these locations.
The Sunshine Coast has much new development and if the budget is set at $400,000 then it can be done with a new unit or townhouse or an older existing house. The reason this was so important was the clients requirement for minimal work would restrict us to a new / newer property, however the budget would not then allow for a house.
The decision was made to keep the requirement of a house and forgo the ‘minimal work’ requirement for the sake of location.
RPA delivered a partially renovated, 3 bedroom 2 bathroom, house with a large pool, all within walking distance to the new town centre and retail expansion.
Not only that, a tenant was located in 4 days and achieved a 6.8% gross rental return.
Purchase Price – $390,000
Rental – $515 per week
Another successful purchase and satisfied client.
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