[THE VAULT] CAIRNS INVESTMENT PROPERTY BOUGHT IN LATE 2015 FOR $25K
This edition of the vault showcases an unusually shaped shaped Cairns investment property. This unit is unattractive and it’s not the ideal property for a foundation portfolio, but, as the numbers show, it offers a lucrative role to play for a well established investor – assuming they play their numbers right.
GUESS HOW MUCH IT COST?
Nathan and the team picked up this flat for the unbelievable price of just $25,000. A deal like this doesn’t come up too frequently! It rents for $180 per week – that’s a rental return of 40%.
WHAT ROLE DOES IT PLAY?
For someone who has already built a strong foundation portfolio, and is in the position to buy a few investments that sit just outside the square, this round apartment has the potential for making money in the short to medium term. Nathan’s vision for this flat was for the owners to collect their rental income and wait for its value to reach $60, $70 or $80,000 before selling it to double or triple their money.
PIA KICKS ASS!
This deal was one of many bargain properties sourced by PIA to build up their clients’ wealth – a perfect example of what an exemplary buyers agency can do.
Have you bought any properties that sit outside the square? Please share your experiences with us in the comments section below.