Hot Property

Overview:

Looking for a high growth investment property in Perth, our clients enlisted the help of Momentum Wealth and its buyers’ agents to do the hard yards.

Given the client’s requirements, we immediately focused on the sometimes overlooked suburb of Craigie in the northern suburbs of Perth. Being a tightly held suburb (both for resale and rental) it tends to achieve good property price growth and also has the benefit of providing plenty of value-add opportunities.

When the right property came on the market, our buyers’ agents kicked into gear immediately. Being familiar with the area from a property investment point of view, we were instantly able to assess the potential and value of the property and place an offer. The property was ideal being an average 1970’s home (yet still achieving reasonable rent) and was situated on a flat corner block in a proposed rezoning area. We secured the investment property for our client within three days of it being listed beating other buyers to the punch.

Despite the competitive nature of securing properties in Craigie, Perth, we still managed to acquire the property under market value, but most importantly, secured an investment property for our client that has potential for great gains in future.

Result:

Purchase of a street front 3x1 brick and tile home in Craigie, 22km from Perth CBD.

Purchase price: $420,000

Estimated market value at time of purchase: $430,000

Savings: $10,000

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