20% OFF list price and 8% yield. And pays you to buy it!
This property pays you to buy it
This is yet another spectacular buy for one of our clients. Who says you cannot invest with under $20k? We've found one.
This property in a Victorian town, not far from Melbourne, with an ultra low vacancy rates of just 0.2%, has just gone unconditional.
✅ $45,000 savings
✅ 21% off list price
✅ Only $8,500 cash to secure*
✅ $95,000 below valuation
✅ 8.1% rental yield
✅ Ultra low 0.2% rental vacancy
✅ Double size block
✅ Potential for 4 to 5 townhouses
And here are the purchase numbers:
List Price: $215,000
Bought: $170,000 (a 20% savings)
Buyer Agent Fees: $11,000
Savings for our client: $34,000
This is not just another purchase. Other positives includes:
1. Immediate Equity of $95,000
The bank subsequently valued this property at $265,000, ie, this property has an immediate positive equity of $95,000! Yes, refinance or access your equity at 80% LVR, and you'll get you'll get $19,000 back in your bank almost immediately!
2. Rental yield of 8.1%
Rental has been appraised at $265 per week, making this a 8.1% yield. And in this region of ultra low vacancy rates, this will be leased in no time.
3. Developers dream. Profit circa $400,000
Did I mention this property sits on a double sized block? It is a full 1500sqm of land. The creative developer will have no trouble building at least 4 townhouses on this land. New townhouses in the area are being sold at $450,000 to $500,000. Factoring a build cost of $1.2m, there is a potential for a tidy profit of $400,000 conservatively.
Positive cashflow properties like this with good rental yield and growth are almost impossible to find. But we found it.
Get in touch, if you want a similar one. We cannot promise we'll find another one with such potentials, but we'll get something for you.
* Buyers eligible for the First Home Loan Deposit scheme pays only $8,500 to secure this!