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Michael’s Journey

Michael* discovered Empower Wealth after listening to Bryce and Ben on The Property Couch podcast. As a regular listener and already an avid investor, Michael, 30, definitely had his head “screwed on”! He was keen to continue his property investment journey and came to us to expand the quality portfolio already under his belt. As a touring professional sports medic, looking after some of our most successful Aussie sports players, Michael was particularly time poor and enlisted the support of our Buyers Agent, Christa Batt. Given he had plans of moving to international destinations in the future, Christa served as a base network to offer her property expertise on his behalf.

 

The Search Process

After identifying Michael’s goals, the focus was on a balanced asset surrounded by lifestyle factors. As a result of this, Michael and Christa decided on an agreed percentage number for both capital growth and yield. Targeting a higher percentage of yield would give him flexibility in his cash flow, which was necessary for Michael’s current portfolio commitments, and so would allow future tenants to foot the majority of his bill. In saying that, his investment property would also fill its roof with a nice, steady capital return.

The selection

Christa’s researched suburbs gave Michael some golden markets to play in. Along the way, the competitive nature of these markets meant a couple of properties were missed; but Christa was adamant not to stray from the agreed numbers. Quite often, a Buyers Agent is invaluable in smoothing out the emotionally attached “speed humps” that can sometimes hold up the search process or turn the road into a financial “dead end”. Fortunately, Michael was happy to let Christa steer the wheel.

Not spoiling the choice worked out very favourably for Michael. A beachside property located in Mermaid Beach popped up on Empower Wealth’s database. It was a premium fit, especially with a low vacancy rate.

The Negotiation

The property was advertised for only 2 days (!) before Christa mastered her magic and negotiated the sale, locking it in for Michael. The competition never got a look-in, least of all a chance to bid at auction. To make it all the more fantastic, just a day in the life of a Buyers Agent, Christa sealed the deal with several, high-quality tenant applications for Michael to take his pick!

The Pre and Post Settlement Service

As is the way with all of our clients; after the property was purchased we coordinated the building inspection and all contract reviews. This meant making sure all negotiations made, including additional contract conditions and various maintenance items, were checked and carried out correctly. We assisted with property managers and made sure everything was in place for Michael. He was ecstatic to sit back and watch his money grow! Another win!

 

What they said:

“Thanks Christa for your help.  I am really pleased with the purchase and the location.”

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