Local Investor in Geebung
B rian and Anne Walker moved to Brisbane from Canberra and wanted to buy an investment property in Queensland before they moved to Tasmania. With limited knowledge of the Brisbane market and the property purchase process in Queensland, they weren’t confident in finding the right investment property to purchase on their own.
Coming to us as a referral from their accountant, Brian and Anne requested a solid 3 bedroom house with a double lock-up garage with a block that is at least 600m2. They also wanted the home to have renovation potential to increase the value of the home but only wanted to spend a maximum of $650,000 on the purchase price.
Following their brief, we were able to purchase a solid, but original home, that had plenty of opportunity for renovation. There were multiple offers on the property though we were successful in securing the property for $581,000. After the Building and Pest Inspection were completed, we were able to negotiate the property down further to $550,000 to cover the items listed in the reports.
In addition to the renovation potential, the house had a functional layout with 3 bedrooms and 1 bathroom with the ability to easily add an ensuite to the master bedroom if desired. It also had a double lock-up garage and an internal staircase with an additional self-contained Granny Flat at the rear of the 736m2 block with a further 2 bedrooms.
Our Property Management team have now rented the home for $520 per week.