Joey & Lauren’s Journey
Joey and Lauren* were devoted listeners of The Property Couch, and decided to get a Property Portfolio Plan in place before they went ahead with the purchase of their first property. Relatively young, which is one of the best way to start in property, Joey and Lauren were looking towards their financial future while also aware that they would like to start a family, along with getting married, in the foreseeable future. This meant that preparation for cash flow changes was vital in order to work out, realistically, what they could afford to buy now, mindful of servicing costs over the long term.
With their Plan in hand and a brief for the first investment property, Joey and Lauren meet with our Buyers Agent, Christa Batt. Because we were targeting both capital growth and enough yield to take the weight off the loan repayments, our search headed to Brisbane.
Joey and Lauren were in luck when Christa discovered an off market property in a rapidly growing suburb of Brisbane. Not only was it a low-cost maintenance home, it had over 700m2 of land … indeed we all felt like we had won TattsLotto! It was the ideal property for a family and showed a great potential for long term growth.
Christa Batt’s negotiations were fruitful, and a longer settlement was sought. The Brisbane property also had a current tenant in place, who was happy to stay on. Although Christa did advice Joey and Lauren that the rental return in current market conditions could have been increased. By keeping the remaining tenant in place, however, Joey and Lauren were avoiding the biggest expense a property investor will face … a vacancy!
The Pre and Post Settlement Service
As usual, what you should expect post settlement, we coordinated all contract reviews, additional contract conditions and various maintenance items that were included in the negotiations to be rectified by the landlord. Lastly, we assisted Joey and Lauren with property management through recommended property management companies.
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