Western Australia (Perth) - Aug 2023

📢📢 Investor Purchase (Western Australia, Perth)

Brief: The client, a busy IT professional based in Melbourne was looking to start building out his portfolio with a clear passive income target. He reached out to me through a mutual friend and was looking to invest outside of victoria but did not have the time to research interstate markets. Before working with me his main concerns were:

😟 If the property purchased would be vacant too long.

😟 Selecting an area with good growth prospects.

😟 Being unfamiliar with the dynamics of interstate markets.

With a purchasing capacity of 820K we decided to split his purchase into 2 properties to diversify his investment and to take advantage of the growth prospects in two different markets.

Here are the details of purchase 1:

Location : Western Australia, Perth (off market purchase)

How did I help?

✔ Educated him on the market dynamics of the Perth property market

✔ Selected an area with strong rental demand. (vacancy rate : 0.4%)

✔Formulated a property plan to hit his long term passive income target

✔ Targeted a suburb with strong growth over the next few years based on demand supply indicators. Proximity to major employment hubs.

✔ Got access to an off market property

✔ Purchase price : 415K (3bed, 1 bath) - 883m2 land.

✔ Similar properties were selling close to 450K in the current market.

✔ Rental appraisal in the current market : $450/week

✔ Development potential : Yes - It is possible to keep the existing house, build a house at the back and subdivide under the R25 zoning code.

✔ Conducted all due diligence :

❌No floods,

❌No bushfire

❌No high voltage lines nearby

❌No busy road

❌No slope on the property

❌No easements

✔Completed a professional inspection of the property (condition and maintenance)