Buying Residential Investments

Client Story - Astute business woman buying a Long Term Hold Investment

Coburg

The Brief
The client had engaged Synergy’s services previously and was therefore confident in Synergy's ability to meet her requirements for this investment.

The brief was a long term hold with greater capital growth potential in the future. She was looking to buy in an area that is growing but is yet to reach its full capital potential, therefore the land value was the key target. However, it was important to also keep in mind that as a busy woman, our client also wanted a house that would be immediately appealing for the rental market and required no immediate work.

The Strategy
During our reconnaissance with the client, we viewed 5 properties in different suburbs of Melbourne. Each of the properties had differing characteristics, ranging from houses that were a little ‘tired looking’ but could be rented as is, to renovated houses with instant appeal. The only constant with each property was the land component.

During the reconnaissance, as luck would have it, we found a property that fit the criteria perfectly, however as we were still in the initial stages of the brief, we decided to ‘keep an eye on it’ and conduct due diligence on the property, while continuing to action our complete search phase.

The Execution
The property which we were 'keeping our eye on' was passed in at auction and we met with our client to discuss the option of making an offer. We decided to make an offer which was considerably less than our client’s original budget and the offer was accepted.

The Result
As well as buying a fantastic long term hold property for our client below budget, Synergy negotiated as a condition of the offer that our property management team be able to conduct two ‘Open for Inspection’ times prior to settlement.
 
Our property management department advertised the property and conducted the opens prior to settlement and found a professional couple ready to move in the day after settlement. Our client was delighted there was no down time on her investment.

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Client Testimonials

"The pre-sale briefing was very good and the selling result was fantastic - over $100,000 over reserve. I have been spruiking the advantages of a sellers agent and the excellence of Synergy ever since."

— Jan Boynton, sold in Murrumbeena, Dec 2009