Emma and Rob came to us as a referral from previous clients. They were high income earners with a principal place of residence that had built up a healthy slice of equity, and they were ready to take the next step into property investing.
When we sat down for the strategy call, we asked a lot of questions. They wanted to invest, but not at the expense of changing their lifestyle. That meant the target location needed to deliver a certain rental return from day one, while still sitting inside a capital city market. They were specific too, a freestanding house, with a healthy budget of around $750,000 to $800,000.
With that brief in mind, we shifted our focus across the country to Perth and zeroed in on Banksia Grove. It was a pocket that ticked the boxes on yield, fundamentals, and price point, and gave them the kind of asset they wanted to hold long term.
The search was not a straight line. We missed out on multiple opportunities along the way because we were not prepared to overpay or follow the hype. After about six weeks of working the market, an off market opportunity came knocking through an agent we had built a strong relationship with from previous deals.
The beauty of this one was that the vendor wanted to lease the property back at, or slightly above, market rent. That meant immediate income, no vacancy risk, and a tenant who was motivated to look after the home. After a quick negotiation, we had the deal wrapped up within 48 hours.
They exchanged in October at $795,000. As of the desktop valuation on 6 May, the property is sitting at $933,000, close to $150,000 in equity growth in around seven months, and a strong foundation for the next chapter of their portfolio.