Ralph and Wilma were seeking to purchase a property to live in when visiting Melbourne and to also rent as short stay accommodation when not personal use.
Investor - determined a cash flow strategy, seeking to generate income over the longer term. Our clients brief included some non negotiables to ensure the property would appeal to them personally as a priority and to be used to also generate income via short stay.
Secured: prior to auction via swift and strategic buying tactic
Identified: no major concerns noted during due diligence period
Settlement outcome: settled
We engaged Miriam at Property Mavens as a buyers agent after deciding to buy a property in Melbourne which we could use when we were visiting friends and family and make available for short term rentals during other times. We are experienced investors but a previous experience trying to buy in Melbourne was difficult, particularly because we didn't have a relationship with an agent (let alone a network of agents) and our availability for specific short trips made it difficult to consider property being auctioned.
Although we had bought and sold property in the past we had no experience of auctions and our willingness to negotiate that path was negligible. In addition, due to our finance situation, we were keen to identify a property during the traditionally low activity period of the festive season. Along came Miriam (by personal referral) and after our first discussion we felt comfortable that her skills, knowledge and enthusiasm for our project would lead to a successful outcome.
From the start Miriam's approach was organised and we had a clear understanding of how the process would unfold. If anything Miriam moved too fast for us - only in that we all knew the time of year we were looking could result in few options so it was a surprise to have one property identified before our deposit had even landed in Miriam's bank account! Within two weeks of the engagement we had secured a fabulous property, pre auction, at a very acceptable price.
From our previous experience trying to buy real estate in Melbourne remotely we know that Miriam's expertise, network and enthusiasm for her work has resulted in an excellent outcome for us.
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