Finding Off-market Property
March 19, 2024
Finding Off-market Property Embarking on the journey to find your dream home or the next addition to your investment portfolio can be both exhilarating and
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We have heard back from one of our clients an exceptional story that we just had to share with you all. Ten months ago, we purchased for our Sydney based investor two properties in Brisbane to kick off his property portfolio.
The two properties were:
1. House purchased in December 2019 – Wynnum QLD for $542,000
2. House purchased in January 2020 – Wavell Heights QLD for $741,000
We knew the two suburbs we’re about to take off after extensive research and analysis which is why we were actively buying for a number our clients in the two locations at the time.
Fast forward ten months later (and during this COVID pandemic), our client has had his properties revalued by his bank and the result are…well, exceptional is all we can say. See for yourself…
Key Notes: This property was purchased Pre-Market. Due to our extensive network with agents we were offered this property 3 weeks before it was to be listed online. And to secure the price we wanted, we settled in 13 days…which was Christmas Eve!
Key Notes: This property was under contract with another buyer when our clients signed with us. But the deal fell through, due to our extensive relationships with agents, we were offered this property before it was relisted again. And to secure the price we negotiated, the vendor asked for a 2-month settlement.
– Local knowledge is key, it’s the only way to find that perfect property in the right area and not overpay. There are always markets within markets and unless you’re on the ground, every day – you will struggle to find the ‘gems’.
– Conditions play a big part with price negotiations. Both properties had differing settlement terms to achieve our desired price.
– Using a Buyers Agent who has an extensive network of agents to tap in to and find those hidden gems offered only as off market and pre-market opportunities. Currently, off market opportunities now represent over 35% of sales.
FACT: If you were looking for an investment in Wynnum and Wavell Heights in November & December 2019 – you would not have seen the above two properties on any real estate portal like domain.com.au or realestate.com.au.
– Many property ‘experts’ smirk at Brisbane being a solid investment property location. Here’s proof that says otherwise.
Please Note: whilst we are extremely pleased with this result, they are exceptional and not the norm (within a 10-month period and during a pandemic). We have consistently seen growth increases between 5%-10% within the first 12 month period for properties in the Brisbane metropolitan area. Investment properties like the above two in this case study are out there, you just have to know where to look.
Thanks for reading and remember you can always give us a call on 1300 131 231 or send us an email if you ever have any questions.
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