Scott – 39, Seven Hills, NSW
- Wanted to use capital to invest in another property & build long term wealth for him and his family
- Wanted to set himself up for retirement
- Doesn’t have the time to conduct his own research
- Was introduced to Binnari by his financial planner
- Melbourne Apartment
- Rented within 2 weeks of settlement at $475 per week
- The pandemic led to a period of vacancy and reduced rent but he now has another tenant secured and the property is once again, cash flow positive after tax
- Brisbane Townhouse
- Rented pre-settlement for $675 per week
- Median homes values in the suburb have increased by approximately $200,000 in the last 2 years since Scott’s purchase
- Brisbane Townhouse
- Rented for $500 per week, a 5.6% rental return
- Median house prices in the suburb have increased by $155,000 (25%) since Scott’s purchase
Challenges and concerns
Scott started investing in property in his 20’s. He has now bought and sold four properties on his own.
“I realised I now have some money to invest in property again, however this time around I have a family, another kid on the way and a much busier job, so I didn’t have the time to carry out all the research myself. It was an easy decision to engage experts.”
“I was referred by my financial planner at Montara Wealth (a sister company of Binnari Property), where they sorted out my superannuation and tested my risk profile, laying out all my options on what I could do. Once I started working with Binnari, I came with some expectation on how property investing works, however, they really took me to that next level with presenting me all my options with in depth backed up research”.
“Initially, I was not sure on the strategy of an off-the-plan purchase until they walked me through the many benefits including tax depreciation and low maintenance costs”.
How we helped
Scott had a baby on the way, so this meant his wife would have to take time off work and they’d have to rely on one income to support the family. So when they came to Binnari, Scott explained that they needed an investment property within a shorter time frame.
“Binnari were great in doing this for us. They never forced me into something that I wasn’t comfortable with or anything that may have meant they received a higher commission – which you can definitely get with real-estate agents”.
Working with Binnari
“Binnari certainly gave great advice on how to use my capital most effectively. For example, my wife and I expected to burn through all our cash with the purchase of two properties, however, we ended up investing in three properties and had some cash remaining by using some of the equity from our existing house. This wouldn’t have been possible if it wasn’t for Binnari”.
“Also, there is always that headache when having to deal with finance processes and getting a valuation, but Binnari were able to guide us through the whole process”.
Working with Binnari meant that Scott had the opportunity to invest interstate without the hassle of conducting the research and traveling himself.
“I not only didn’t have the time to look at investing interstate, but I also didn’t have a clue about where it was best to invest and how investing in owner occupier type properties was really important, as Binnari later explained. Binnari’s knowledge was invaluable – that’s why you go to property experts. Binnari laid out the best options and if you want to go down a certain path, they will support that.”
Scott ended up purchasing two townhouses in Brisbane and a flat in Melbourne.
Scott purchased three investment properties all of which are being held with a positive cash flow. A key part of Scott’s investment strategy was diversifying through location and property type. The benefits of this diversification were felt through the pandemic with his apartment in Melbourne losing a tenant and accepting a reduced rent.
“However, thanks to Binnari the property remained positively geared and I didn’t take too much of a financial hit. I stayed grounded because I knew that demand would eventually increase once they open up the boarders and students will be travelling interstate.”
At the same time, his Queensland properties were reaping the benefits of strong interstate migration and substantial price growth.
Scott now holds two properties in Brisbane which are performing strongly from both a rental and capital growth perspective. The Melbourne apartment remains in an excellent location less than 5 kilometres from the CBD. With lockdowns now over and the imminent acceptance of overseas travelers and migration, we’ll likely see these market conditions improve quickly.Find out how we can help you
Hear from Scott
“Binnari had a really solid idea on what the best options were for me based on my budget, goals and short timeline. They were able to lay out all the options to achieve these goals and helped us understand if those were the logical goals for our family, but at no point did we deviate from the focus being what we wanted to achieve. Even though Binnari needs to hit certain sales targets, they really make it about what’s comfortable for you, and not what’s in if for them. Again, that’s unusual in this industry. Binnari supports you in whatever path you want to go down”.
Hear from Scott
“Even though we’ve finished working with Binnari, they still keep in touch to check in and see how everything is going which is nice. My wife and I have recommended about six people to Binnari and we don’t take referrals lightly”.
Hear from Scott
“I highly recommend Binnari. They are really focused on what your goals are, not theirs. It’s a no brainer to work with them, their experts.”
Read more Binnari
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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.
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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