Case study: Alex’s First Investment Property
Finding your first investment property can often feel like navigating uncharted territory.
For Alex, a first-time investor whose goal was creating a sustainable passive income stream, his journey began with what seemed like an endless search for the right property.
The Challenge:
Alex's journey began with a simple goal: to buy an investment property and create long-term wealth. Like many Aussies, he saw his friends getting into the property market and wanted to join them. However, the high property prices in Sydney (even for investment properties), made it almost impossible for him get into the market.
After two years of searching in Sydney, Alex still wasn't able to find anything suitable. He also realised the suburbs he wanted to live or invest in were overpriced and out of reach. He needed a new approach that would allow him to achieve his goals of becoming a property owner (without breaking the bank!)
That's when Alex reached out to me to have a chat about buying an investment property interstate. Our initial conversations were focused on understanding his short and long-term investment goals. At first, Alex wanted to invest in a particular area of Brisbane. But with my consultative and data-driven approach, I was able to show him several market trends to explain how that area had already peaked and was at risk of going through a short-term price correction.
The Recommendation:
Since Alex had no plans to move to Brisbane, I recommended looking in Perth, a market poised for short-term equity growth and sustainable long-term potential. The strategy was simple – to maximise his investment portfolio's growth potential while minimising risks.
After just one week of working together, we secured a three-bedroom home within walking distance of the local beach. The deal was secured off-market, and with skilful negotiation, I managed to shave $9,000 off the original purchase price after a rigorous building and pest inspection.
The Roadmap:
Besides the property purchase, I also created a 10-year property investment strategy to help Alex achieve his long-term goals. This strategy provided him with a clear roadmap to understand how many properties he needed to buy, and what type of property he needed to buy next in order to achieve his property investing and passive income goals.
The Property:
Purchase price: ~$520,000
Weekly rent: $550
Rental yield: 5.5%
Location: 300 metres from the beach
A Journey to Financial Freedom
Alex's story reflects the importance of a data-driven and consultative approach to property investment. Rather than letting emotions dictate his investment choices, Alex was open-minded about exploring investment opportunities interstate. This willingness to look beyond his backyard was crucial in shaping his investment journey.
If you're considering buying an investment property and would like expert guidance tailored to your needs, please don't hesitate to reach out. Your property investment goals are within reach, and I'm here to help you realise them.
The Roadmap:
Besides the property purchase, I also created a 10-year property investment strategy to help Alex achieve his long-term goals. This strategy provided him with a clear roadmap to understand how many properties he needed to buy, and what type of property he needed to buy next in order to achieve his property investing and passive income goals.
The Property:
Purchase price: ~$520,000
Weekly rent: $550
Rental yield: 5.5%
Location: 300 metres from the beach
A Journey to Financial Freedom
Alex's story reflects the importance of a data-driven and consultative approach to property investment. Rather than letting emotions dictate his investment choices, Alex was open-minded about exploring investment opportunities interstate. This willingness to look beyond his backyard was crucial in shaping his investment journey.
If you're considering buying an investment property and would like expert guidance tailored to your needs, please don't hesitate to reach out. Your property investment goals are within reach, and I'm here to help you realise them.