First Time Investors based in Melbourne

 

First up is Karen. Now, Karen’s got a great story about a young Melbourne couple who are first-time investors. Now, what’s interesting about this story is they’ve been doing the grind! They’ve been getting out there. They’ve been looking for an extended period of time and they’ve been missing out but their time-poor professionals. So, it was getting to them in terms of not being able to secure a result. So, they decided to engage a professional buyer’s agent in this case, obviously, it was Karen and they engaged her to get the job done.

Now the brief is this we had $1,000,000 to $1,000,050 in our budget, okay, and was a growth strategy, and we wanted to make sure that we picked a property with owner occupier appeal. So in that case, they wanted some period charm, you know, and they also said we’re happy to add a bit value later, so it didn’t have to be fully renovated completely, set and forget property. So that was the brief. The result was we shopped in the inner north of Melbourne, and we found a great location with great street appeal and, you know, one of those streets they’ve got all of those period properties lined up row after row.

So that’s a great story in terms of walking distance to everything. Single fronted, freestanding property, you know, with good bones, good-sized land. So, land on its side not too tight in terms of what it was. Now, the strategy for getting this property was it was bought pre-auction. So, what happened there was it was early in the campaign and because our clients were ready to go, we were able to act really quickly, so we acted quickly. We put an offer in before everyone else could get their stuff together and we were able to secure that property for the $900s.

We even got under budget!

So, if they wanted to do some tidy up on it [they could], but from my understanding it’s a neat and tidy property. So, there’s not much to do other than get those renters in there and then start thinking about how you might improve that property later on. So, I think this is a great outcome because what Karen was able to do was show her expertise, I mean all Karen does is buy property just like every one of our buyers’ agents. That’s what they do. Week in, week out in terms of looking, so they were able to get quick into the market. For this particular couple, we got that property within two weeks of them engaging us and that’s because we were able to jump onto the market.

Now, for the clients, what’s helped them? And this is what I love about this story, is that [there is] no more weekends. No more weeknights trying to get their inspection list together to go out on a Saturday or maybe on a Thursday night. So, where is this couple right now as I’m recording this? They’re in Europe!

I understand that they’re actually in Italy taking a holiday and we’re doing all the prep work leading up to the settlement of the property.

So, what better outcome can you want for a client who can get on with their life and know that they’ve got their first? Investment property in the bank and hopefully looking for more into the future.