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Acquisition phase of property portfolio building
First Property Purchase

To source a property that was suitable for a Rooming House

Client Brief: A high positive cash flow property that will pay down it’s own debt once set up as a Rooming house.

The Upside:
The property had been rezoned and the block could be subdivided. The client spent money on renovations (approx $35k) and added another bedroom and bathroom as well as some cosmetic renovations and fire/ safety compliance features)

Property Details:

  • 4 bedrooms
  • 2 bathrooms
  • 1 carport

Backyard can be subdivided in the future and will return $200k.

Built 1983

Purchase price: $415k ( + $35k)
Rent: $790 per week
Yield: 7.8%

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