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The Step-By-Step Story

In this Story Behind The Numbers, I theme this one step-by-step. This one comes from Matt — one of our great Buyers Agents in the team. I’m choosing to do this step-by-step because this particular couple had a lot of cash — they built up a very, very nice nest egg.

They’ve been working hard — good money managers — and they wanted to put that money to work. And whenever you get someone who’s investing for the first time, or anytime really —there’s a real chance to be able to build trust and take people on a journey. For first timers, it’s a great opportunity to build out that education, because you want to be able to make sure that you’ve got their confidence — their confidence that you’re going to pick the right asset. And when you’ve got people who are very detailed, that’s when it’s going to take some time. And we love detailed people, because in our business we’re known for detail.

We’re absolutely known for the amount of detail we go to in cash flow analysis in the research that we do. I mean, all of the parts of the process in our business. So, we get delighted when these people entrust us with their money. And this couple, who were based out of Sydney, gave us a Melbourne brief, which we were very happy to take. We call the process “a slow and steady; build that trust, get that detail right. The bottom line was that Matt was able to buy down Bayside way. He’s bought a really safe and reliable asset down there. A solid brick home, incredibly neat and tidy, on a good patch of dirt — 687sqm of dirt — three-bedroom, one-bath. It rented straightaway — with a nice yield, 3.4%, for the price point. Basically this property is really is a low maintenance and there’s potential for future value add on that particular site as well.

So, the transformation here is that first property. Just like every property, that very first one, once you get it away, you realise that it doesn’t impact your life.

I remember my first investment — you’re watching it for the first three, four months, maybe six months, and then you just get back on with your life. And I think that’s what’s going to happen for this particular couple. They’re going to be able to build more confidence from making this particular purchase, and this confidence will allow them to step forward with their next purchase. So, step by step is the process. Purchasing property is a process — it’s not an event. So build up that knowledge, win that confidence, be trusted to make the right execution. Matt did a great job here and we’ve got some happy customers who have got their first investment property!

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