Douglas is an investor looking for a property within his budget within a tightly held suburb.
- Investor - Douglas was looking for a capital growth driven investment property to generate equity over the longer term within 8kms of CBD.
- Negotiated price: At market price
- Secured: Off market, within budget and in a desired suburb
- Identified: a number of items presented during the due diligence period and were areas of concern
- Settlement outcome: The purchaser was rebated $20,000 to cover cost of repairs to the flooring and re-stumping of the property. The property was sold with a lease agreement already in place.
- Bought Nov 2014: $620,000
- Value February 2017 : $750,000 - $790,000
- Capital Growth : 21% - 27.5% growth in 27 months
- CLIENT TESTIMONIAL:
Another step forward towards reaching my financial goals, I have now got a property in a reasonably tightly held suburb which was within my budget and met nearly all of my requirements. It was an off market purchase which I feel allowed me to paid a fair market value for the property without having to contend with the emotional bidding often present at auctions. My work can be very demanding and time intensive and also being based interstate limited my ability to spend the required time to researching/acquiring an investment property in Melbourne. Your work allowed me to concentrate on my work as required while still being confident with my investment choices.
Any property purchase represents a large if not the largest acquisition in most peoples lives, with each individual only likely to go through the process a handful of times. It makes sense to engage a professional to work in your best interests and who is experienced in the process. Mistakes with purchases on such a large scale can have huge implications in the future and comparing the monetary cost to the overall purchase cost represents only a small percentage. The potential to minimize costly mistakes far outweighs the cost. I doubt I will purchase another property without engaging Property Mavens in some capacity.
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