Case study: Finding Rachel's second property
Finding the perfect investment property can be a real challenge, especially when you don't know where to look or what type of property to buy.
This is exactly how Rachel felt when she was looking to buy her second property.
Rachel Zhang, a busy professional and business owner, had already bought her first investment property and was keen to build her portfolio to create long-term wealth and passive income.
However, with her busy schedule, she simply didn't have the time to do all the research and find a high-performing investment property.
One of Rachel's biggest hurdles was identifying those high-growth suburbs with huge growth potential. On top of that, she was also confused about which property investment strategy would be most suitable for her.
So she spoke with a few experienced Buyers Agents to get advice...
... and then reached out to me, Eric Le Tran, a relatively new buyers agent (but with eight years of property investing experience).
And after multiple in-depth consultations with Rachel, everything just clicked and she decided to work with me to find her next property.
Rachel knew I was new to the industry. But she could see I was very knowledgeable and appreciated the level of care I took to educate her on my strategy.
...Because I wanted to do things differently to a lot of the bigger Buyers Agencies...And I didn't want her to feel like a number.
For such a significant purchase, I wanted to give Rachel a buying experience that was truly unique and filled with genuine care.
So the first thing I did was create a solid investment portfolio strategy tailored to her unique situation and goals.
A strategy to help her buy multiple properties, pay off the debt, and become financially free.
With this strategy, Rachel had 100% clarity about what type of property we needed to buy next (and the one after that...)
And after working together for 5 weeks, I helped her secure a cracker of an investment property in one of Australia's fastest-growing suburbs.
During that time, I had access to multiple off-market listings and all we had to do was sign a contract and the deal would be done!
But I didn't want to rush her into a sale
They were good properties...
But there were better quality properties on the market, in more desirable locations.
I wanted her to have one of those!
And we ended up securing one of them! (In a beachside suburb)
Here are the details:
Purchase price: $457k
Weekly rent: $480
Rental yield: 5.5%
2 min drive to the beach
Lots of renovation potential to create more value in the future.
It was a successful outcome!
And I was stoked for Rachel, after managing all the inspections, price negotiations, due diligence, settlement, and onboarding her with a property manager to find a tenant.
After settlement, Rachel had the inside of the property re-painted to make it look more modern to help attract higher-quality tenants and charge more rent.
It was such a fun and rewarding experience to be part of Rachel's property journey! And I can't wait to work with her again in the future.
If you're looking for a Buyers agent or thinking of buying an investment property and would like to learn more about your next steps, please feel free to reach out.