Ravi & Nisha were looking for an investment. As two full-time professionals working in Sydney, they had limited time and information on where to invest or what they could get.
The budget of $680k allowed them to consider many areas, but after going through our research with them and analysing value, they decided they wanted to focus on QLD.
It was important for them to have a good yield and capital growth potential. Since they were using equity in their home for this purchase and were 100% geared at over 6% interest, it was crucial for us to find an opportunity that would deliver a strong rental return.
We reviewed several options across Greater Brisbane and Townsville. We initially went to contract on another property, but the building report uncovered material defects, including land subsidence, so we advised them not to proceed.
After the disappointment with that property, we were able to secure a property in a premium suburb of Townsville. We obtained it below the AVM, as higher offers had less favorable terms and were risky for the vendor.
We were able to execute the contract quickly, securing the deal on a Sunday afternoon and exchanging by Sunday evening.
