By investing in a positive cashflow investment property, more young couples are finding a way to save and still enjoy their lives. If, like Emma and Noah, you want the best of both worlds, chat now to Vizion Group and get your roadmap to property success.
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Emma and Noah’s Story
Emma and Noah met at University and dated for six years. They celebrated their wedding in June 2016. Both in their late twenties, the couple had been renting for a number of years and were saving to purchase a small investment apartment in Melbourne. Both Emma and Noah loved to travel and were constantly planning for their next trip. Would it be Bali this year or should they splash out on the ultimate trip to Europe? On the other hand, they knew they should be saving for an apartment but Melbourne prices kept things just out of their reach.
Up until now, the couple had always blown their savings on travelling and socialising. Now they needed to find a happy balance between their current lifestyle, and starting their own property portfolio. Both capable savers, Emma and Noah were able to save a decent amount each month from their jobs. They wanted to get into the property market before it was time to settle down and start a family, yet they didn’t want to sacrifice their lifestyle completely.
After doing their research, the couple realised they would need to factor in three things. Firstly, their investment must be in an area where prices are going up and there would be capital growth. Secondly the monthly rental income must exceed their mortgage repayments and thirdly they must find a way to quickly add value to their property so they could create instant equity.
These three factors led them to look at properties in South East Queensland and in particular the Sunshine Coast. Investing in a Strata Titled Duplex investment would mean that after only a few months of ownership the property would be worth substantially more than they paid for it. The rental return on the property from the dual income more than paid off their mortgage. It would also leave them with plenty of savings in the bank for travelling, expenses or unforeseen circumstances. The third major benefit for Emma and Noah was that the low vacancy rate and the high rental prices in this area meant the new property wouldn’t drain their monthly savings, leaving them free to continue saving for their future and of course that Bali holiday. The couple decided to continue renting close to their jobs which allowed them freedom and flexibility without over extending themselves, whilst also knowing that they had their feet firmly on the property investment ladder.