This client works fly in and fly out and wants his income working as hard as he does, without giving up the lifestyle and travel that comes with the job. Rentvesting, buying an investment property while continuing to rent where he actually wants to live, was the strategy that made the most sense.
Blue Key found a three bedroom, one bathroom, one car freestanding home on a 900 square metre block. Solid bones, low maintenance, side access, and clear scope to add a granny flat or extend down the track.
The property was purchased for $530,000 with a projected rental yield of 4.75%. A Building and Pest inspection turned up a few cosmetic issues during negotiations, which Blue Key used to negotiate the price down by a further $10,000.
The Result:
- Purchase price $530,000
- Projected rental yield of 4.75%
- 900m² block with granny flat or extension potential
- $10,000 negotiated off the price following the Building and Pest inspection
