Property Club Book of Tips and Traps

Property Tip #22

Do be engaged with the body corporate where appropriate, to be involved and direct maintenance and improvements as required.

Nic and Robyn Thiele

Nic and Robyn Thiele

Our investment property journey started some years ago when we decided to move from homeowners to Rent-Vesters. We wanted to continue investing, so we chose to sell our family home and rent instead. We already owned one investment property and had been members of Property Club, so we spoke with Michael over a few months until the time was right. We then sat down and talked more about properties and ran some numbers.

We initially chose a townhouse from the club in Brisbane, but after some further research, we decided not to proceed with that one. Michael then found another one with a slightly higher price, but the location was much better. We bought when the demand for townhouses in Brisbane was high, and in our development (only 14 km to the city), all of the townhouses sold before any construction started. This process was new for us as we had never built a property.

After signing contracts in April 2021, our new townhouse settled in May 2022. Yes, the build process took a bit longer than we had hoped, but we were kept informed along the way, and we have been super impressed by the quality of the completed townhouse that Property Club mentor Fred Zanette inspected on our behalf. Working closely with the club and the property manager meant we had tenants in the property before it settled, so we had zero vacancies! Additionally, our initial quoted rent of $510 per week skyrocketed to a massive $600 weekly. We know that will help us manage the property's cash flow, and any excess can be used to repay the debt.

We have been impressed with the professionalism and assistance of our Property Mentor, Michael Brooks, who has always been just a phone call away in case we ever had questions, and we have had a few. We are glad we took this first step with the club, and it looks like it has paid off for us because the townhouse has also grown in value whilst it was being built.

Thanks, Michael and the Property Club Team.

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