💥💥 $55,000 REGIONAL PROPERTY....PURCHASE #25 by Easy Buyer's Agent..2nd this month and more will be coming. Purchase price: $55,000. While we generally are against regional property purchase due to the risk, but this opportunity is too good to be missed. It is tenanted to a long term tenant which lease has just been extended until June next year for $150/week = 14.2% gross yield! Read on 👇
💥 BRIEF
Our investor is a repeat customer of ours. This is the 3rd property we purchase for him. He is looking to add more into his portfolio.
💥 PROPERTY STORY
We are generally totally against regional purchase due to the risk. However, when we spotted this particular property, we were immediately interested. It was for sale for FROM $60,000. It was a 3x1 property already tenanted to a long term tenant who is happy to stay currently paying $150/week. Vacancy rate is sitting at 0.5%. Yes...0.5%.
More than that, this is literally the cheapest 3x1 in the suburb. Others have sold for at least $100k+. Talking about below market price, this one is nothing like others.
While it is definitely a ultra high-risk purchase, the numbers, the information we collected and the potential outweigh the risk. Plus, the purchase price is super cheap. Talking about minimising risk, this property can definitely be considered.
We checked with the selling agent on running costs such as council rates, water rates, property management fee, etc and they all look normal, very similar to metro prices.
Long story short, our buyer agreed that this is a deal worth taking the plunge on. We made an offer and it was accepted at $55,000. At $150/week rental, this gives him 14.2% gross yield. Coupled with potential capital growth (due to the below-market purchase), we feel that the risk is definitely minimised.
💥 When we buy property for our buyers, we don't just present "any" property. We analyse, calculate and assist our clients to minimise their purchase risk as much as possible while maximising their returns. We are equipped with more than 20 strategies to make profit through property which gives us the versatility when it comes to finding deals.
If you are looking to buy property, whether you are Investor, First Home Buyer or Owner Occupier, you know who to call. Our buyer's agency service is one of the best in the state. Looking forward to be able to assist you.
Until the next purchase.
