Client Name:
Mick
Client Occupation:
Operations Director
Client Location:
Sydney, Australia
The Brief:
The brief here was simple. Find a property in Sydney that needed renovating. The client supplied specific parameters including purchase price, renovation budget, rental yield and ideal profit margin on the sale.
Purchase Reason:
Buy, Renovate, Sell
Property Address:
Burwood, NSW
About The Property:
2 Bed / 1 Bath / 0 car - 105m2 (including exclusive use backyard)
A small boutique apartment block in Sydney's Inner West. This property ticks all the boxes for a sound investment. Very central to all amenities, public transport and motorways - this property creates peace of mind. Only a short stroll to Westfield Shopping Centre and a short commute into the CBD by train or car, it really does provide all the treasures for a young professional.
• 10km to Sydney CBD
• 1.3km (17min walk) to Burwood station and Westfield Burwood
• 5min walk to shops and cafes
• 13mins to Central Station by train
• Existing house that has been sub-divided into four garden apartments
• Private garden to the rear
• Opportunity to renovate internally and extend
Purchase Price:
$340,000
Purchase Method:
Private Treaty
Rent:
$350/wk (prior to renovation) / $550/wk (post renovation)
Gross Rental Yield:
5.35% (prior to renovation) / 6.21% (post renovation)
Our Services:
• Detailed brief and confirmed requirements with a reverse brief to the client
• Macro research of the greater Sydney market
• Identified key areas in Sydney where there are opportunities to renovate within the client's budget and parameters
• Presented research findings and suburb due-diligence with our recommendations
• Commenced search and viewed properties on behalf of our client
• Presented recommended properties with the key information; cash flow analysis, supporting data and feasibility study for the renovation
• Negotiate purchase price on behalf of the client
• Liaised with the client's solicitor and mortgage broker on the transaction
• Project Management of the renovation
• Arranged necessary insurances, strata approvals and development application
• Managed council and strata approval to change title of land and by-laws