Our client from Sydney was wanting to invest in Newcastle with a budget of $1.6 million.
We showed our client numerous properties at the top end of her budget, but the yields were 2% or less. We then located this smaller, fully-renovated property on the same street as other properties we’d viewed selling $1,170,000. It was the ideal property for our client, and we were able to purchase prior to auction at a fantastic price.
This property has yielded well and will continue to have capital growth because of the location and proximity to schools, shops and sporting facilities,
Our client can also now purchase another property with the remainder of her budget.
- Purchased: $987,000
- Potential Rent: $750 per week.
- Potential Yield: 3.9%
