Property deals we’ve done – Townhouse on the Gold Coast
There’s nothing like a sunset over a nice swimming pool, high up on a hill, surrounded by palm trees and then bushland.
It sounds like a potential dream home and as far as rentals go, a tenant would be pretty happy with that situation.
But if you think it sounds expensive, think again.
Nathan Birch and his team sourced this property, a three-bedroom townhouse on the Gold Coast, for just $263,000 for one of his clients. And with that price point, you could be forgiven for thinking it was 15 years ago, but no, the property is only just in the settlement process now.
It sounds great, but it gets even better. The property was last sold for $295,000, so it’s bad news for the previous owner, but Binvested’s client picked it up for a steal. And it’s got nothing to do with market troubles, as identical properties in the same complex have sold for $335,000 this year.
So this client can look forward to pulling significant equity out of this property very, very soon, using it as leverage into their next investment and moving one step closer to living life on their own terms.
Apart from a pool, the complex has a lovely high-up set of district views and a modern, holiday feel. It is already tenanted with a rental return of $410 per week.
That’s a gross rental yield of 8.1% for this investor, which is just about unheard of in city areas in 2020.
There are lots of motivated sellers out there that may want a quick, hassle free sale and be prepared to take a bit of a hit to get it done. Others are forced to sell. These sort of deals are out there to be found all over Australia, but with no experience you wouldn’t know where to start. That’s where Nathan Birch’s experience in building a 200 plus property portfolio comes in handy. Agents know him and they come to him with these opportunities. He is then able to pass them on to his clients.
If you need help finding these kinds of properties and building a portfolio, in all different shapes and sizes, feel free to reach out to Nathan and the team.