Turnkey Investment
Wanneroo – Belevere Hills
After looking at established homes in the area and making comparisons with a block and build turn key product, he decided that construction was going to give him the best results.
Within the week Dave had chosen a plan that best suited his block, met with the finance broker to ensure the loan was going to be approved, and spoken with the Rental Company to ensure that renting the property was not going to be difficult. After the plans had been submitted to the shire for approval he met with our interior decorator and locked down the colours, finalized the paper work and then was on site.
This house was rented out to tenants within the same week of completion, and Dave is getting as much money in rent as he is paying on the mortgage, further the equity he has built in the property is enough for him to start on his second investment property.
Key facts about this development
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Equity in Development
In this example Dave had created enough equity during construction to use the property as security for another development.
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Neutrally Geared
This property generated enough rent to cover the mortgage.
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Mortgage
Dave was able to borrow enough money to cover his repayments during construction.
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Turnkey
This investment was completed to a turnkey finish making the property rent ready at handover.