One of our clients was looking to invest in a regional town that offered great future growth whilst providing high rental yield. The client was also keen to find a house that offered a “free block of land” with it, that is, they wanted a house with a block size suitable for sub division pending Council approval. We found a fantastic house in Tenterfield, NSW that sits on 2023m2 allowing the client to sub divide the block and add one (possible two) premise at the rear of the block.
We purchased this 5 bedroom, 2 bathroom and 2 car garage for $322,000.00 and immediately signed a 12 month lease for $350.00 per week. Prior to the tenants moving in we instigate some renovations to ensure the property delivered real value to the new tenants. We managed the renovation with the help of a great local Real Estate agent that ensured we engaged good local tradespeople with great credentials.
Work will now commence with a local Town Planner and Builder to prepare the documentation required to apply for achieve a Development Application and subdivision for the block. My Property Buyers Agent assists in the management of this ongoing project given our client is a busy executive with no time to spare. For a fee we will guide the client through the process to obtain all approvals from council, engage the right builder and oversee the construction phase.
An exciting opportunity that will delivery enormous capital growth for the client.
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