Elliot – 30, Erskineville, NSW
- First home buyer looking to build long term wealth
- Migrated to Australia from England in 2016
- Wants to eventually buy in Sydney
- Was referred to Binnari Property by his financial planner
- The property can be rented at $500 per week which would leave Elliott with a cash flow positive investment
- After Elliott purchased, prices within the development were increased by approximately $30,000
- Median house price in the area has increased by 15% since Elliott’s purchase
Challenges and concerns
Elliot currently rents an apartment in Sydney and wants to eventually be able to buy in the area. However, Sydney’s property market is too out of reach.
Prior to his investment, he was concerned with having to withdraw a large sum of money out of the bank to put a deposit down. He was also concerned with purchasing property off the plan.
“However, there was that element of trust between myself and Binnari in making the decision to purchase off the plan as they gave me reassurance. They know the builders and they know what the market and its potential looks like”.
Working with Binnari
“Working with Binnari enabled me to have access to premium quality properties with the option of choosing what townhouse suited best in one development”.
“With every property there’s challenges through the process, which is out of Binnari’s control, however, I was really impressed with how they dealt with everything. They went above and beyond to make sure I was getting messages from developers and were really on top of communicating with us. I could not fault them at all”.
“Originally I was going to go with another company, however, when I reached out to Binnari it felt right to go ahead with them. Binnari were excellent throughout the whole process. They didn’t push me once, even when I was in that final stage when I was contemplating actually going ahead with the purchase due to the fact that it was off the plan and I can’t actually see the property. They rung me one day and said if you don’t want to go ahead its no problem and we will go and find you another property – I think that was the final reassurance piece.”
Elliot purchased a three bedroom townhouse in Brisbane, QLD. The townhouse will be delivered to an exceptional standard and will continue to attract high demand from local renters and owner occupiers.
As at December 2021, the vacancy rate in the suburb is 0.4% which indicates historically low levels. On completion a rent of $500 per week will be very achievable and will leave Elliott with a cash flow positive investment after tax.
“I was really surprised how quickly this whole process was. Binnari’s research was really in depth and really took the weight off my shoulders as I didn’t have the time or expertise to do it myself. They showed me multiple property options and I picked which one I liked most. It was that simple”
Find out how we can help you
“Binnari is a people company that work with you throughout the whole process. They don’t just do the service then leave you be. My best advice to anyone in a similar position to me is to go and have that conversation. You may be thinking property is out of your budget, when in fact there is definitely an option for everyone.”
Hear from Elliot
“What stood out to me was that complete offering that Binnari provide. I needed to invest my savings into something so property was the way to go and once that property is finalised I’ll be speaking with Luke at Orium (Binnari’s sister mortgage broking company) to help me finance the property.”
Hear from Elliot
“Now that I’ve bought a property in Brisbane, in 5 years time I will be able to purchase property in Sydney, which has always been my goal.”
Hear from Elliot
“Go speak to the experts at Binnari – they have an in depth knowledge of what is happening in the market, in not just Sydney but also interstate.”
Read more Binnari
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Michael is an accountant and has been a referral partner to Binnari for several years. He was looking to expand his investment portfolio with a property outside of 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!