Amanda’s Journey

Amanda* was referred to us in September 2012 and her investment strategy was to purchase a highly sought-after, well-located asset which would bode well as a property suited to professional tenants. Amanda’s preference was for a property on its own title (as opposed to strata/body corp) with a strong historical capital growth record, but more importantly, Amanda needed an investment which would yield no less than 3.5%pa gross rental and would not require ongoing maintenance. Amanda’s budget was up to $700,000 and given her fondness of period properties, we knew that a suitable option would be a property in Yarraville within a moment’s walk to village shops, schools and train station.

After considering several period properties boasting beautiful internal renovations, we narrowed it down to this beautiful masonry Victorian single fronted house. Although it was scheduled for auction we made the decision to buy it swiftly, prior to auction for $680,000. A building inspection was incorporated into the conditions and we were able to secure it at a price which we feel would have been exceeded at auction due to the popularity of these types of houses in Yarraville. The terms of the sale suited the vendors, as we were able to ascertain dates that suited the vendors best.

Aside from representing a slice of history, the property is both well located, well suited to professional couples and small families alike, and it was rented at 3.6% gross rental yield within four days of settlement. We were able to negotiate as part of the purchase conditions for the property to be advertised for rent prior to settlement and as a result the new tenants were able to take possession immediately.