Peter, NSW

Property Purchased:

Gold Coast, QLD

Property type:

House and land

Price:

$489,750

Rent:

$440 pw

Peter – 36, Sydney, NSW

  • Moved to Australia from Canada in 2017 where he had previously bought and sold two properties that he lived in
  • Works for the Australian Defence Force
  • Wanted to get his savings into the market but didn’t know how
  • Hesitant towards property due to poor experience in Canada

Results

  • The property was rented shortly after settlement for $440 per week (4.7% return)
  • Since Peter’s purchase in January 2018, median house prices in the area have risen from $475,000 to $591,000, growth of 25%. This is a great result for Peter’s investment and the QLD market continues to strengthen

Challenges and concerns

Peter migrated from Canada to Australia in 2017 where he had previously bought and sold two properties that him and his family lived in. However, his experience with property wasn’t too successful due to him purchasing his first property prior to the global financial crises and his second had just broken even on purchase price when sold.

“In both cases I essentially lost everything I had put into the mortgage, I would have been better off renting for 10 years. So when we got to Australia I wasn’t really keen on property. On top of that I was completely ignorant to how property investing worked in Australia”.

“That all changed when I sat down with Binnari Property”.

How we helped

Working with Binnari

Peter came to Montara Wealth (Binnari’s sister company) for financial advice.

“Montara came highly recommended by people that I work with and trust. When we sat down with them to discuss our finances and options, they suggested property would be the best strategy based on our goals and situation.”

“When I sat down with Binnari, I was in the middle of an intense training curriculum with my job in the Australian Defence Force, the kids were quite young and my wife was studying so we were very poor on time”.

“Binnari would make the effort to travel to my home to meet with my wife and I. With every property that was presented to us we were super impressed with the thorough market analysis, including the pros and cons for each property. For example, for the property we purchased they included information about the next 5-10 years of commercial development and infrastructure plans and the amount of jobs in the area. There was so much information that made us feel educated and comfortable in making a decision and the team never pushed us to go in one particular direction. Binnari made us feel comfortable and reassured to invest in Australia”.

Property selection

Peter and his wife ended up purchasing house and land in a suburb located between Brisbane and the Gold Coast. 

The coastal regions around the country have performed exceptionally well and the suburb Peter purchased in was selected due to its low supply levels, connectivity, and proximity to key employment centres. 

“This process could not have been smoother especially because I’m so time poor. I was getting regular updates and I never had to seek out information. I was informed regularly about how the build was going and about any forms I needed to sign. Everything was handled by Binnari.”

The outcome

Peter purchased a four bedroom, two bath, double car garage home for under $500,000. 

The strong rental income since his purchase has held Peter in good stead while holding his investment. Through the tax benefits available to him and the negative gearing process Peter has maintained a positive cash flow. 

Peter has also seen strong growth in the last 12 or so months with the median house price in the area increasing by 25%. This is a result of strong interstate migration into Queensland leading to strong increases to property demand. 

“The property has been tenanted ever since we purchased two years ago. We’re so glad we took the advice to engage with experts. From start to finish I have had nothing by praise for Binnari. It has run so smoothly and I have barely had to touch anything. It’s nice to know we have some skin in the property game.”

“From starting out feeling hesitant to get into property, to deciding to purchase a property in the Gold Coast, it was shocking how simple the process was”.

Find out how we can help you

Hear from Peter

“Convenience was the biggest thing that surprised us and Binnari really instils confidence. We went from low interest investors who were quite uncomfortable with purchasing property to purchasing an investment property in QLD because of Binnari’s demeanour and reassurance”.

Hear from Peter

“I was working insane hours and coming and going from Sydney all the time, and I was pretty much able to build a house in QLD by getting on my phone and digitally signing documents. It was very convenient. My advice to other people is to invest with someone you can trust and instils confidence. Binnari really instilled that trust.”

Read more Binnari
Success Stories

Scott wanted to use capital to invest in more property & build long term wealth for him and his family. He doesn’t have the time to conduct his own research.

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.

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.

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

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