These 4 properties were all on market advertised to buy together despite being on separate cross lease titles. The market to buy circa $1million is small so they sat on the market for some time. We had been given advice the vendor was motivated to move on so our offer was accepted at $828,000. We had a valuation done the next day which came out at $1,170,000, giving us an immediate equity gain of $342k.

All properties are tenanted and as the current tenancies end, we will begin minor improvements and increase rents closer to market levels of $400pw. Spend on renovations to date is NIL however we budget $5k per property to tidy up over the coming months. Once complete not only will our equity position on this deal creep closer to $400k our gross yield of 10% will also be achieved.