Purpose of Purchase: Investment
Property Type: House
- Capital growth
- Low maintenance
- Elevated position facing north/east
- Views over the surrounding suburb and distant mountain views
- Large land component
- Multiple covered outdoor areas for entertaining
- Renovated & fully fenced yard
- Walking distance to shops and transport
A Successful Investment:
This is the client’s first investment property. He is a young Doctor moving to the Northern Territory and was using savings as the deposit on an investment rather than his own home. The primary focus was capital growth and while he is still an intern & registrar for the next 3-4 years, wanted the cash flow and maintenance to be minimal.
Our client secured the property before it went to the open market due to PMC’s agent relationships and at the first open home when it went to the market, the selling agents received offers in excess of $620,000 (our purchase price was $595,000). Our client has saved over $20,000 immediately and PMC Property Management sourced tenants who moved in within 4 days of settlement at a gross yield of 4.89%.