WHOOPS WE DID IT AGAIN...PURCHASE #31 AND #32 by Easy Buyer's Agent. Asking: $295,000+, Purchase: $250,000. This is a duplex pair sitting on a 941sqm boasting 2 x 3x1 units that can be rented for $250/week each minimum. This equates to 10.4% gross yield. Slurp.... read on
This purchase is by our repeat investor. This is the 5th and 6th property we have purchased for him.
When we spotted this duplex pair we were immediately interested. Equipped with WA market knowledge, we know straight away that 3x1 duplex in that area can easily rent for $250/week minimum. Even if we purchase at above asking price of $300,000, at $500/week this equates to 8.67%. Regardless of which angle you look from, this property is too good to be missed.
What's even more interesting is, this property is sitting on 941sqm land that is zoned R40! It means, up to 4 units can be constructed upon this property. But hey...why bother if you can simply rent them out for now, keep holding positive gearing and when market is rising, cash in.
Using negotiation tactic we managed to buy at $250,000. Which, at $500/week this equates to 10.4%.
Looking to get into the property market in WA? You know who to call. Our Buyer's Agency service is one of the best in WA. Our director who came from software development background has tools, knowledge and angle to look at properties analytically. And this what has given us the edge to be able to identify such opportunity.
Until the next purchase. Peace.