Property Tip #22
Do be engaged with the body corporate where appropriate, to be involved and direct maintenance and improvements as required.
Do be engaged with the body corporate where appropriate, to be involved and direct maintenance and improvements as required.
Chandika is a new Property Club member who lives with his wife Roshini and daughter in the ACT. Chandika and Roshini have been interested in property investment for many years but did not know where to start. They were referred to Property Club by another member who had a great experience.
Chandika was allocated a Property Mentor within the NSW/ACT branch who gave support and assistance. Chandika and Roshini were extremely happy and impressed by the support and agreed that they would use the services of Property Club to help grow their portfolio.
Within a year, they bought two house and land packages, one in Melbourne and the other in QLD. What impressed Chandika and Roshini the most was the support they received from their Branch Manager, Property Mentor and Researcher. Chandika had stated many times that it made the process so much easier, knowing the club could assist him through the process when decisions needed to be made.
One of the properties presented was a Dual Living/Income property. It was on a huge block and handy to shops, including Costco. Under our guidance and assistance, he secured the property at $466,000, a great buy indeed! Considering now, only a few months later, we cannot get Duals for under $525,000 in the same region.
The property is now entirely built and handed over! The property was tenanted on settlement at a combined rental income of $610 per week. This equates to a 6.8% Rental Yield.
The Property Club team assisted the member in making a great decision. He has made over $80,000 in equity in a few short months and will have over $200 per week in positive cashflow!
Chandika and Roshini have now decided to become Property Mentors and have already started to assist their friends with purchases through Property Club.
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