Sarah and Justin came to us through a mortgage broker we work closely with. Based in Cairns, they were a North Queensland couple ready to take the step into their first investment property.
Queensland was familiar territory, but buying in their own backyard was off the table. One of them would have lost work related benefits by purchasing locally, which meant the right strategy had to look outside Cairns while still leaning on a market they understood.
We quickly identified Townsville as the right fit. They wanted to be in a position to purchase a second property in quick succession, so the first one needed to do more than just sit there, it needed to lift in value with conviction. Getting in mid cycle, with the right fundamentals behind us, gave us a much higher probability of 20% plus growth over the next couple of years and the equity runway to move again sooner.
Townsville stood out for all the right reasons, a diverse economy, a major RAAF base, a strong hospital network, and a price point that remains genuinely affordable for the average wage earner to buy and pay off. From there, we cherry picked four target suburbs that gave us the best mix of growth fundamentals, rental demand, and tenant quality.
When we found the property, we were not the only ones at the table. After fierce negotiation and fending off five or six other interested parties, we secured it under budget with a lease already in place. That gave Sarah and Justin immediate income certainty and a position that was as close to cash flow neutral as possible from day one.
In under six months, the property has already shown a 10% uplift, around $70,000 of equity growth, setting them up perfectly for the next move in their portfolio.