A property developer had identified a fantastic money-making opportunity. But to pull it off, they needed to buy the right kind of property.
This property had to be in a good location, so it would deliver strong price growth and rental growth over the long-term. It had to be on a large block with enough empty space, so an additional dwelling could be built. And it had to be zoned accordingly.
Of course, price was also an issue – it had to cost less than $550,000.
The developer made a smart choice to engage Buyer’s Agents Tasmania, because it’s very hard to find this kind of rare property unless you have expert knowledge, strong relationships with real estate agents and the time to thoroughly research the market.
Buyer’s Agents Tasmania has all three things. So we were able to find the developer a three-bedroom, two-bathroom property, on a 800sqm block, for just $520,000.
The developer was able to immediately rent out the existing home for $450 per week, giving them an attractive 4.5% yield. And, thanks to the large block, the developer now had the opportunity to build a second residence, thereby increasing the property’s value and their rental income.
Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.