Jasmine and Nick: First-time Investors
Jasmine and Nick had the aspiration of owning more property, but like many, they weren't quite sure where to start. "We went to our broker," Jasmine recalls, "and we got connected to Property Navigation through them."
The concept of working with a buyer's agent was relatively new to Jasmine and Nick, but it didn't take long for them to see the benefits.
"It was very hands-free. Like a support person that helped do it for you or with you, and you get to have as much or as little control as you liked. It just helped take the stress out of everything because somebody else was organizing it and planning it out. Someone to provide education if-and-when we needed it and to help us link up with anybody we needed to assist with the property. It’s like a social worker but for property.”
“Having that extra team on our side to help arrange things, organize documents, and make it easy for us was a big advantage. We didn’t have to print documents and sign them then scan them back…. it was all electronic, streamlined and easy. The straightforwardness of it all was such a selling point for us.”
The couple’s decision to work with Property Navigation wasn't made lightly, but their initial call sealed the deal. "We looked at other Buyer’s Agents, but the hour-long discovery call that we did with Property Navigation — that was really promising for us." Jasmine adds, "We were amazed by all the work they’d already done and how thorough the guys were with all their searches and how far and wide they were looking. Not a lot of other Buyer’s Agents had such a wide area that they were searching across, so that was a good benefit as well. Property Navigation were the most favourable out of any other buyer’s agent we had been suggested."
As they moved forward, Jasmine and Nick were impressed with how much Property Navigation took off their plate. "For us, it was the ease of not being involved, because we’re just so busy all the time between my job, and Nick running his own business. When we’re not busy, we’re exhausted so we procrastinate a lot, and it takes us a lot of time to do things or to motivate ourselves to get things done. We just didn’t have the capacity to do it all by ourselves, but having a Buyer’s Agent really took all the stress out of everything."
When it came to their property purchase, Jasmine and Nick initially considered buying a new home for themselves and turning their current house into an investment property. But after a discussion with Property Navigation’s Principal Buyer’s Agent, Boyd, they took a different route. "Boyd was really excited and suggested to us that if we didn’t hate our house or where we live, maybe we should look at other investment properties in more affordable areas that would have a better return in the long run."
"We kind of gave their team creative control, and they gave us suggestions because they're the professionals in the industry. We didn’t really know too much. So, we were very trusting in Property Navigation, and they really came through."
Jasmine and Nick’s trust paid off when they found the perfect off-market property in just two months. "There was one property that came up, but it fell through, which was for the best because our second property was an absolute steal," Jasmine says. "We now own a duplex! We paid $774k for both homes on a block that is over 1400 square meters, and we kept both tenants. It was an absolute steal, and we’re very pleased with the situation. There are so many possibilities with this property as well."
Within 4-weeks of signing the contract, inferior properties in the areas were selling for $800,000+. The Market value of their property was then appraised to be ~$850,000, resulting in a whopping $70K profit in a matter of one month. Additionally, the rental yield on this purchase was robust at 5.7%, with future modelled forecasting revealing 6%+ is achievable at the next rental review. This site can also be sub-divided as both properties are stand-alone 3-bed/1-bath homes. Such 3-bed/1-bath properties in this location on 600-700m2 blocks sell between $550,000 - $600,000.
“It actually turned out that because the property that we bought was such a steal, we essentially paid for the Buyer’s Agent fee with the property if that makes sense. Our property was worth closer to 850k on the market, even higher. We got much more than their fee off the price of the property if you think about it.”
“Without Property Navigation, we would have had to do all that ourselves. It was a really great experience. And its better result than if we had done it ourselves.”
“In the first month we received a summary, which was pretty cool. We were able to see how hard they were working for us in the background because I think it was well over 250 properties or some ridiculous number that had been screened and not chosen.”
"The team were super active. I love the enthusiasm. They’re all very top-tier enthusiasts, and there’s lots of optimism in the team," Jasmine says. "But they’re also realistic, very transparent, very available, and responsive. I honestly can’t think of one issue that I had."
"It was great, we will be coming back when we are going to buy our next property.”
Reviews
What other happy customers say.
"A Buyer's Agent is a lifesaver! I honestly don't know what I would have done without one! I didn't know the first thing about buying a house, but Boyd was really approachable.”
- Bella Agius
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