Chris and Bec’s Journey
Chris and Bec* discovered us after listening to The Property Couch. With time on their side, they realised they were in a prime position to plan ahead for retirement. Like many of our clients, Chris and Bec wanted to continue enjoying the fruits of their life well into old age. Without delay, the pair meet with our team to have their finances reviewed and a property plan was tailored to their needs. From here, Chris and Bec began the fun of finding their investment property with the support of our Buyers Agent, Christa Batt.
The Search Process
With a goal to create a nest egg for retirement, the main objective was capital growth, and Chris and Bec were happy to contribute towards yield. With this in mind, Melbourne became our destination to chase the long term goal of capital growth. Plus, Christa’s invaluable experience and intimacy of the city meant the search was a lot easier — she dug up a number of properties that met Chris and Bec’s numbers!
With a few quality properties to choose from, a classic weatherboard in the increasingly popular pocket of Altona North was decided on. As a charming 3 bedroom home, close to all lifestyle drivers — cafes, shops and a railway station just down the road — it definitely ticked all the boxes of an investment grade asset. Not to mention, the growing location was easily accessible to the CBD. Chris and Bec were happy with the smaller block, which would cater for quality, busy tenants.
Like most properties in Melbourne, this one went to auction. Bidding was met with another investor, obviously also seeing value in the capital return of the property. Unfamiliar with the auction process and no doubt nervous about the completion, Bec spent the time on the phone, appearing to most to be in the midst of nervous breakdown! (Not really Bec — you did a fantastic job and were a great sport indeed!) At times like this, a Buyers Agent is an incredible support — Christa, true to form, stayed collected and eventually we were the successful bidder, under our budget at that!
The Pre and Post Settlement Service
A longer settlement was negotiated and a number of applications for tenancy were received, which allowed property managers to select the best tenant available. Tenancy was eventually won with a relocation firm.
Even though Chris was a studious numbers man, by planning out their future financial outcome, we were able to give both Chris and Bec confidence to move forward into the property market. Their result has been outstanding. Well done guys!