Time poor investors need a tool like Real Estate Investar!
My latest deal is 137 Riselaw Road, Dunedin.
Applying the discount strategy
Using Real Estate Investar I found this property using the discount strategy, it had been on the market for a year, first listed at $310,000 with an estimated market value of $320,000.
It had dropped to $275,000 and had just sat there since.
The twist on this property is that it's made up of three units under one roof.
It was originally built for a Doctor as his house, pharmacy and Doctors rooms in 1950.
It is a solid and quality brick and tile, and the pharmacy was converted into a fully self-contained studio room and Doctors rooms into a two bedroom flat in 1974.
The vendors were a large family using all three as a family home. Once I found the property using Real Estate Investar I contacted the vendors directly and after looking through and seeing the potential quickly got into negotiations.
I had it independently valued which came in at $326,000 as it stood, and at the end of negotiations I purchased it for $230,000.
It took six weeks to paint, carpet, re-landscape and generally freshen up and came up a treat.
The rental assessment is between $630 - $700 per week, though I am currently having a quick go at selling pre-winter - it will most likely become a long term hold returning a gross yield of 12% and start off equity of $90,000. The time I have personally worked on this deal would be 70 hours.
Why Real Estate Investar works for me
I used Real Estate Investar to find the property, research it, analyse it, prepare the required lending information and to monitor it and the others in my portfolio.
I use nothing else, Real Estate Investar is the best, simple as that.
This information was provided voluntarily by Real Estate Investar subscribers and has not been checked and verified by Real Estate Investar for accuracy or completeness. The examples illustrate what a subscriber claims to have achieved using Real Estate Investar's tools. This information was supplied on the dates shown above and its possible changes in the market, mean the financial performance of this property investment may be different today.
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About Real Estate Investar
Founded in 2006, Real Estate Investar (REI) is a publicly-listed company and leading provider of products and services to assist in the identification, analysis, acquisition, tracking and accounting of investment property.