We have selected this property for you based on the location as Hillcrest has been predicted to have significant growth in our quarterly reports.
A unique benefit of this property is the tenants have just signed a 5 year lease at $450 per week with 2% increases every 1 years, admittedly, 2% increase is on the low side, but you do have security of tenants for the next 5 years and management is only at 6.6%
They do want $420 000. But I suggest we try secure it at $400 000 which is under market value based on the comparable sales in the area.
The property is going to Auction, but the agent said they are accepting offers prior to Auction but will need shorter finance and building and pest clauses as they want the property to be unconditional prior to Auction.
Hillcrest is in a blue chip pocket of Logan, highly owner occupied and close to all the major amenities, such as private schools, university and hospitals.
Please read on for more information
It’s with great pleasure to present
Logan is home to more than 327,000 people from more than 217 different cultures.
Logan is home to many Aboriginal and Torres Strait Islander communities. Traditional Custodians represent the original Aboriginal inhabitants of the area. There are also Elders and people who have come to live and work in the City.
New estates flourish as the city grows. Residents enjoy a range of housing options, from leafy suburbs to bushland acreage.
Logan is located between Brisbane, Ipswich and the Gold Coast which allows residents easy access to the national highway and rail networks.
Logan has more than 1,100 environmental and recreational parks. Many of the parks feature dog off-leash areas, exercise facilities, play equipment and skate ramps.
Flood zones are caused by obvious causes. In areas where the terrain is fairly flat and river banks overflow, properties which fall within these catchments warrant higher insurance costs.
A caveat is a ruling or law attached to the property, usually with a contract attached to it. If this is the case, the caveat needs to be understood as to what it is, who it benefits and when or if it expires.
In communications with the listing agent, he/she has confirmed the condition of the property is as the listing shows. This will be verified by our team in the steps moving forward.
There are 3 types of listing stages:
None of these types of listing types define the quality of the property.
The build year should be considered when purchasing properties of different structure types. The price of the property can be reflective of the build year vs the structure type. Some structure types age better than others. At a certain price point, it is worth remembering that land is the appreciating asset, while the dwelling is the depresiationg asset and can be reflective in the age of the property.
Tenure renewals dates need to be considered in rising markets. If the market is rising, your ability to increase rental rates will on be possible at the time the tenants lease period has come to an end.