Purpose of Purchase: Investment
Property Type: Off Market House
How this purchase met the client’s brief:
- Possible add value through cosmetic renovation
- Low vacancy
- Minimal ongoing maintenance
A Successful Investment:
Off-market transactions in the Highgate Hill/South Brisbane area are almost unheard of in the current market environment however due to a strong agent relationship and an overseas vendor, we were able to secure this property. We proposed to the client to spend approximately $10,000 on cosmetic works and internal reconfiguration to create an additional bedroom. This resulted in an increase of $80pw rental income, so the works that PMC Project managed for the client, has provided almost a 50% return on the investment. As a first investment property, the client is extremely pleased with the outcome and will be looking at purchasing again through PMC within 6 months to continue to build their portfolio.