Glenn already has an existing investment property in Albury and was looking to purchase another investment locally. He engaged Property Mavens to help him find an A Grade investment with renovation potential.
Investor - The property needed to provide ongoing, long term capital growth with a high level of yield. The property had to be a desirable rental option to maximize rent return and minimize potential vacancies. He preferred something that was unrenovated where possible.
Property Mavens identified a property that was off market and matched his specific requirements. I sourced a property that suited his brief, was under budget and under market appraisal.
Purchased: $20,000 under the vendors initial asking price
Identified: no issues presented, original condition internally and bought with intention to renovate
Settlement outcome: yet to settle
Bought May 2023: $430,000
Current Value May 2023: $470,000
Capital Growth: bought under market value
Rental Return: 6.04%
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