Are you overlooking the Gold Nuggets in your own backyard? Another successful property investor makes over $150 000 buying off the plan on the Sunshine Coast, here’s how they achieved such a great result.
Outdated or incorrect perceptions held by buyers about a particular suburb, can sometimes lead to them missing out on golden opportunities, in their own backyard. As the current market rises, locals find it hard to justify paying the price on properties they believe are too expensive. However this leaves savvy investors, cashed up with equity or profits made from their existing investments, to snap up the bargains and go laughing all the way to the bank. I’ve seen this many times before whilst investing in the property market myself, and witnessed other investors make real money from properties previously regarded as low-performing regions.
Here’s an Example of how it works
A savvy property buyer just made money when he bought a duplex property in Palmwoods, on the Sunshine Coast. The purchase price for 2/3 bedroom duplex was $706 000 and dual rental will be approx $820-$840 per week, achieving a gross return of 6.1%. This all sounds pretty good so far doesn’t it? But here’s the best part, this property is yet to be built. This means that the buyer saves on the stamp duty, and on completion, the retail price for each unit was to be sold off as a separate dwelling. The estimated selling price per unit would be $420 000 to $430 000, providing the buyer an upside equity lift of approx. $154 000.
Interestlingly, I mentioned this opportunity to a few local property investors, who all came to the conclusion that this property was overpriced. As an agent, I love this type of investment, and am continually on the look out for property with upside equity potential. In our current market, there are plenty of options if you know your numbers and how to find them. Stay tuned, get ready for the next great investment to be offered and don’t underestimate the gold nuggets that may be hiding in your own backyard.
If you need some advice on where to find these high yielding investments, contact Michael Knights on 0409 018 778 or email [email protected]
CEO Horizon Property Alliance
30 years of investment experience
Investment Mentor and Buyers Agent