Vik came to us looking to start building his property portfolio, and it was going to be key to get the first one right.
Vik was residing and renting up in Brisbane and decided to purchase his first home which he plans to convert to an investment in the future when he moves back to Sydney.
We had identified a number of suburbs, but with a budget of circa $1.5m, we had a number of options. Wanting to stay north of the city, Vik’s preference was Wavell Heights but was open to some of the surrounding suburbs.
Our aim was to spend low $1m’s, but when this opportunity came up, Vik knew he had to grab it. These opportunities don’t come up often, and with a view for the long term, this was a must buy. With surrounding properties climbing into the high $2ms and low $3ms, we knew this was one of the most premium streets in the suburb. The bonus was city views which we knew also couldn’t be built out.
The house was literally falling apart, and the Building and Pest was abominable, but we weren’t buying the house, we were buying the land, the position and the views!
We were 1 of 3 final bidders. 1 other offered the exact same price as us with the same conditions and the other was $40,000 more with less favourable terms.
Being a Buyers Agent and the client having a relationship with the agent through previous property inspections, we managed to secure the deal over the other buyers.
