Client Name: 
Erin

Client Occupation:
Lawyer

Client Location:
Dubai, UAE

The Brief: 
Our client has an existing portfolio in Australia and engaged Milk Chocolate to help grow this further. She understands the importance of building on this portfolio whilst living overseas. The brief from Erin and her financial planner was that she needed to reduce her current income tax on Australian assets. We worked closely with Erin's tax accountant here in Australia and he modelled various scenarios that best suited Erin's situation and requirements. Before we started the research, it was important that Erin was comfortable with the scenario's and once we had all stakeholders sign off on the model, we commenced the research, bearing in mind, we needed a negative geared investment property. The strategy also included the ability to renovate, which would further help reduce Erin's tax position through depreciation.

Purchase Reason:
Investment Property

Property Address: 
Ballarat

Purchase Price:
Withheld

Purchase Method:
Private Treaty

About The Property: 
3 Bed / 1 Bath / 0 car - 521m2

• Character weatherboard home in a fast growing suburb of Ballarat
• Original period features throughout
• Ability to add significant value through a structural renovation
• Immediate neighbouring properties valued at $500k more than the price we paid for this property
• 3 blocks from Lake Wendouree
• 17-minute walk to Ballarat train station
• 30-minute walk to Ballarat Clarendon College (Ranked in top 5 Victorian schools/ Top ranked Private School in Victoria)

We negotiated a long-settlement with early access to the property to get a head start on the design and permit approvals.

Our Services:

• Worked with Erin's professional services team on an adequate strategy based on accountant and financial planning recommendations
• Detailed brief and confirmed requirements with a reverse brief to the client
• Commenced search and viewed properties on behalf of our client
• Presented recommended properties with the key information and cash flows
• Presented town planning advice and renovation costs per property
• Negotiate purchase price
• Liaised with the client's solicitor and mortgage broker on the transaction
• Undertook extensive building inspections
• Full project management of renovation

Did we renovate:
We are undertaking a full structural renovation for Erin. This includes design and planning due-diligence, council permits, build tender, interior design management and full build management.

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