The property market has certainly picked up this year with buyer's taking advantage of historically low interest rates and an improving market. Investigate Property is in the business of sourcing the best quality deals and as a result, many of the deals we find are sold within a few days of being listed and multi-offer situations are plentiful. In our mind, this just proves the deals we are sourcing are good deals.
Despite our best efforts, we haven't always had clients for the deals we find. The following are examples of deals that we did not have clients for. If any sound like they could have suited you, get in touch as we may be able to help you. Note the following:
- One of the properties below is available, so if you think it could suit you, then call Justin on 0410511535 to discuss membership.
- You need to be in a position to make a decision and sign a contract quickly
- Putting a property under contract does not commit you to buying it - we will always ensure there is a get out clause to enable us/you to investigate further.
- We source a wide range of properties, but the overall aim is to buy well, reduce risk through heaps of research and hopefully couple the purchase with an 'add value twist'.
Sold in approximately 1 week
On offer here is a low set post war dwelling on a level 600m2 property, zoned Low Medium Density Residential (suitable for units and townhouses). On the face of it this property looks similar to many other properties that have sold recently in the area, however, there are a number of factors which set this property apart from the pack. The property is surrounded by other multi-unit dwellings, which permits construction to 3 levels, it is within walking distance of two hospitals and major shopping centre as well as various transport options and it is located on the highest point in the area. But the real appeal lies in the fact that this property is in an area scheduled for a significant increase in zoning - to high density. ). Our calculations suggest that the construction of 8 x two bedroom units should be possible with a return around 20% on total costs. Going up! Low to mid $500k.
Sold in approximately 5 days
Let’s keep this simple. This is a development site. A good one. Great location, 2 street access, already on 2 lots, good contours, good access to services, units on both sides permitting construction to 3 levels and a good history of new product selling for great prices in this location. This site won’t be around for long as development sites as pure as this one are in demand. We expect 2 ground floor units can be built in addition to 2 further levels of units – for a total of 12. Our initial numbers show a return on total costs in excess of 23% (excluding GST) may be achievable. That is brilliant given it is also in one of Brisbane's hottest suburbs. Buyer’s in the low $700k's.
Follow the Money
This property is all about the return and the location. The area surrounding this property is usually reserved for the upper end of Brisbane society. But here is your chance to break into the area and get a fantastic return in the process. On offer is 3 flats in a modified Queenslander, which appear to be well managed, rarely vacant and returning approximately $1,200 p.w. On the proposed purchase price this gives a return of around 6.6%. Impressive stuff when you consider the median rent in this suburb is 4%. Buyer’s in the mid $900’s.
All about quality
Sold in under 2 weeks
We have just inspected this property and we are excited! Quality location, quality house, quality suburb, quality development potential and quality city views. This is an original Queenslander in good, but dated condition on approximately 800m2 of development land. We suggest you renovate the existing house and explore your development options at the rear. We have considered the construction of between 1 and 4 additional dwelling, depending on your budget and the market you want to target. We believe the sweet spot is probably two large, upmarket townhouses in addition to the existing house. It would also suit owner occupiers wanting built in development potential. Buyer’s in the late $700’s.
Be the envy of your friends
Sold in 3 days
The old saying goes 'location, location, location'. Location is good, but we're always striving for more. How about sensational views on top of that? That's an improvement. Let's also throw in a well maintained QLDer that would renovate up beautifully. We're getting there! Oh, let's also include the fact that on top of everything else it is also a splitter block surrounded by million dollar homes. Now we're talking! You'll be the envy of your friends with this Queenslander resting on a 809m2 block at the crest of a hill, with potential to split off a vacant block for good gains, with development of a new upmarket home on that land for further gains also an option! In fact, we have done numbers on 7 different options, with the simplest option showing around $180k equity gain and a larger development showing $400k in gains. Buyer's low $900k.
Super Flexible Development Site
We heard about this site directly from an agent and it sold within 2 days and before it hit the open market.
Be quick, this one will be under contract today before it even hits the open market. This flexible development site provides an array of options. This property is a 640m2 corner allotment, zoned LMR. The location of the services and the contours of the block are ideal. The property could suit a variety of development options including units, townhouses or SUDs. The property is in close proximity to an array of large employers and the owners want to rent back for up to 6 months which provides a tenant while you get your DA. And for good measure, the property is being rezoned to High Density. Buyer’s in the mid $500s.
Keep the cake, add the cream
We love it when we find a property suitable for retaining the existing house and adding a new dwelling. But here we have a property where you can keep the existing house and add two new dwellings! This property has a massive frontage of over 30m which enables you to keep the existing house in the centre and build a new SUD on either side. Buyer’s in the mid $500s.
Solid as a rock
Available. This property is not on the market yet - the agent has come to us directly.
Here we have a wonderfully solid block of units in a tenant friendly location with a lot of hidden potential. The current configuration is 5 units, but we believe there is potential to create a 6th unit within the existing building. There is also potential to convert an underutilised dining area in some of the units into additional bedrooms (increased rent and value). And if you needed more convincing, we believe there is also the possibility of building additional units on the site. Our numbers suggest about $300k equity gain is possible through the conversion to 6 units... this is without creating extra bedrooms and without building new units on site - these are bonuses! Buyer’s between $1.2M and $1.3M.
In addition to the above properties, we regularly source deals that:
- aren't on the market yet
- are purchased under market value
- generally have a good holding income, even if it is a development site
- experience good growth as the result of intimate knowledge of the market, locations and town planning rules and changes
- are development sites purchased for the price of a non-development house site
- have the potential for very high yields
- can be quickly turned over for profit, such as strata-title projects
- potential to obtain a DA and on-sell without developing
- are good old fashioned cheapies!
- have renovation potential, often with the option of carrying these works out now or down the track
- are suitable for JV
- are suitable for inexperienced and experienced alike
If you are in the market for a property in Brisbane and/or any of the above deals sound suitable to you, then you should be one of our clients!
You can join by clicking here or calling Justin on 0410511535.
You can also get educated on buying and researching property when Justin presents at the Reno Kings 3 Day Ultimate Property Workshop. It is a free event, but seating is limited. Click here for more information.