💥🏡 BOOM...MORTGAGEE IN POSSESSION...PURCHASE #29 by Easy Buyer's Agent. Asking price: $220,000. Purchase price: $180,000. That's $40k off asking price negotiation. This property is sitting on 783sqm zoned R15/25 with side access enough for retain-subdivide. Based on the current rental data, this property can rent for at least $250/week giving it a 7.2% gross yield. Read on.
🏡 BRIEF:
Our Buyer is a local investor who is looking to expand his property portfolio using buy-hold strategy.
🏡 PROPERTY STORY:
Our relationship with the selling agent helped us in getting early access to this property. When we were first introduced to this property, we were immediately interested. This is a mortgagee-in-possesion 3x1 property located at about 26km from Perth CBD which nearest train station is only 1.5km away. And not just that, this property is located close to local schools and amenities. Nearest bus stop is also only 350m away. Talking about the location, this property definitely ticks the box.
Furthermore, the property is zoned R15/25 sitting on a 783sqm with large side access. Meaning, retain-subdivision is possible. What is interesting however, our Buyer does not need to subdivide now. He can rent it out as is because the internal is in ready-to-move-in condition. Current rental market shows a minimum of $250/week rental income which equates to 7.2% gross yield positive gearing.
Our Buyer can just hold onto this property, and when market is rising and he is ready to cash-in, he has few options to choose from:
- sell the whole thing
- do battle-axe subdivision
- demolish and do 2-streefront subdivisions
🏡 When we buy property, we always apply multiply strategies to each property we crawl to ensure we fetch its highest potential. And yes, we do crawl thousands of them everyday. Furthermore, we have established relationships with a lot of local agents in WA so that we can get early access to properties before they hit the market. And the relationship helps us a lot in our negotiation.
🏡 Looking to buy property in WA market? You know who to call. It's FREE consultation, so give us a call now and let's just chat property. Until next purchase.
