Hot Property

Overview:

Buyers agent Ray Chua was approached by our client looking not for an investment property, but for somewhere to live. Having had trouble finding a suitable property and being cautious about making a wrong decision, our client decided that using a buyer’s agent would be a wise choice. Although the brief was for our client’s personal home, it was also crucial to select the right property that would perform solidly as an investment in order to accelerate her wealth creation plans.

Using a buyers agent ended up being the right decision for our client. Thanks to our careful due diligence process, our client was able to easily pull out of an earlier deal that she simply decided she was not comfortable with.

Following on from this, Ray found another more suitable property located in Lathlain. With Lathlain being centrally located yet still affordable, in the midst of redevelopment and with good growth prospects, it fit our client’s criteria well. The property itself was a lovely 3x1 villa in excellent condition on a quiet street near Victoria Park train station. With Ray’s significant knowledge of property values and sales in the area, he was quickly able to identify this property as a prime opportunity to achieve instant equity. Our client happily settled on the property knowing that she had already built a decent sum of equity in it through astute buying.

Result:

Purchase of a 3x1 brick and tile villa in Lathlain, 4km from Perth CBD.

Purchase price:                                                     $410,000

Estimated market value at time of purchase: $435,000 - $445,000

Savings:                                                                  $25,000 - $35,000