Client Name: 
Luke

Client Occupation:
Sales Manager

Client Location:
Dubai, UAE

The Brief: 
Luke commissioned Milk Chocolate to find his first investment property in Australia (with ambitions to purchase another one or two properties). This is a long-term strategy as he plans to hold the property indefinitely. The investment needed to be in a growth area, with a property the could have value added in the future. 

Purchase Reason: 
Investment Property/commence property portfolio

Property Address: 
Ballarat, VIC

About The Property: 
3 Bed / 1 Bath / 1 car - 463m2

The property is a real diamond in the rough. Built-in 1900 it's certainly showing signs of age on the inside and out, however, has great period features on a good size block. The home is situated in a gentrifying area of Ballarat, a stone's throw to the towns existing and planned amenities and a commutable distance to the Melbourne CBD. Purchased with an existing 12-month lease in place which allows us to plan and prepare for the future renovation.  

• A quick walk to the restaurants and cafes of Ballarat

• 25min walk to Ballarat train station with a direct line to the Melbourne CBD

• 22min walk to the approved Ballarat GovHub

• In close proximity to Ballarat Clarendon College and Ballarat Grammar

• Comparable sales and rent data indicate strong gains post renovation

Purchase Price: 
$335,000

Purchase Method: 
Private Treaty

Did We Renovate: 
We will in the future

Rent: 
$250.00/wk

Gross Rental Yield: 
3.88%

Our Services: 

• Detailed brief and confirmed requirements with a reverse brief to the client

• Presented research findings and suburb due-diligence with our recommendations

• Commenced search and viewed properties on behalf of our client

• Presented recommended properties with the key information and cash flows

• Negotiate purchase price on behalf of the client

• Liaised with the client's solicitor and mortgage broker on the transaction

• Undertook a full renovation feasibility

• Presented extensive data to show the potential of the property post-renovation

• Recommended property managing agent