Sunshine Coast, QLD
Adriaan – 36, Northern Beaches, NSW
- Hopes to build a property portfolio worth $5 million by the time he is 40
- Second investment property purchase
- Doesn’t have the time to conduct his own research
- Referred by his mortgage broker
- Median apartment prices in Coolum have risen 42% since Adriaan’s purchase (November 2019 – August 2021)
- Expected rental return of $950 – $1,000 per week
Challenges and concerns
Having purchased an investment property in Newcastle in 2018, Adriaan was looking to invest for a second time in 2019. He concluded that this would be a time consuming process and knew that investing in Sydney would be out of reach, therefore he thought investing elsewhere would be of much more value.
“I just didn’t have the time to undertake the research myself and travel back and forth every weekend to view open homes. I experienced this the first time around, regularly making the four-hour round trip to view a dozen properties all in one day in Newcastle. I wasn’t interested in doing this again”.
“I met with Binnari Property and immediately could see the value of working with a partner to handle the research and due diligence side, while saving me a huge amount of time and effort.”
How We Helped
Working with Binnari
Working with experts made it possible for Adriaan to explore investing interstate.
“I knew it would be difficult to invest interstate without support. Working with Binnari Property enabled me to expand my search into Queensland and other markets, rather than being limited to markets within a couple hours of Sydney.”
“The team weren’t just property experts. They spoke to me about my financial goals, how much I would need for a deposit and my ability to service the loan.”
“Binnari Property had conducted extensive research into the Queensland markets. They knew which suburbs to look at and had relationships with credible builders and developers. They recommended several different properties in Queensland with great capital growth and rental yield potential.”
The Outcome/property selection
Adriaan secured an off-the-plan three bedroom apartment across the road from the beach. The boutique development of 36 apartments is located in Coolum, Sunshine Coast. Over 20 apartments in the building were priced over $1million and were specifically targeted at the local owner occupier market. Coolum also has one of the lowest vacancy rates in the Sunshine Coast at 0.4%, indicating the strength of demand for property in this suburb.
It’s worth noting that Binnari Property had exclusive access to this project as the only agent outside of the developers direct marketing. Binnari had another 6 clients purchase here, with most buying two bedroom apartments for mid $600,000’s. The project also has an onsite property manager to manage both permanent and holiday rentals which is a major draw when it comes time to secure a tenant.
“I never felt like I was being sold to. I really despise feeling like I’m being conned into something and it was never like that. There was never any pressure. The team just presented me with the facts to make my own decision.”
“I had a number of other firms try to present to me and give me the hard sell. The difference with Binnari Property was that not only did they make recommendations but they also told me what not to buy. They advised me to steer clear of certain high density markets dominated by investors. This is a trap a colleague of mine fell into and I was glad to avoid it.”
Find out how we can help you
“I could have purchased a home in Coolum for a similar price but I just wasn’t interested in renovating an older property, it wouldn’t have been as close to the beach and it wouldn’t have had the same depreciation benefits of a new development. Buying off-the-plan made much more sense with my investment strategy.”
Hear from Adriaan
“The team was experienced and knew the industry better than most. They were very well researched and easy to talk to, giving me a lot of confidence. They were able to show me the research into the local market so I knew I was paying the market rate.”
Hear from Adriaan
“My next property investment is likely to be a holiday home between Sydney and Newcastle which I will renovate on the weekends. This is only made possible thanks to my capacity to service the debt on my Coolum investment.”
Hear from Adriaan
“About six months after that I will be looking to invest again in a new property and will look to engage Binnari Property at that point. I’ve been really happy with the Binnari Property team and look forward to working with them again.”
Read more Binnari
Neils and Laura (Netherlands) wanted to invest in property. But they didn’t know where to start, until they were referred to Binnari. Read their story here.
Jarrad wanted to build long term wealth and finance future properties. He new he wanted to invest in property, but needed the right advice.
Elliot is a first home buyer looking to build long term wealth. He migrated to Australia from England in 2016 and wants to eventually buy in Sydney.
Speak to our team today
One of our property experts will contact you to discuss the following:
- Get to know your investment objectives
- Take you through Binnari’s unique investment approach
- Preview specific properties that match your investment strategy
We look forward to hearing from you – please enter your details below and we’ll be in touch shortly!