Buy coastal property in Perth from interstate

How buyers from Sydney quickly and affordably entered Perth’s property market

G’day guys, Simon Deering and Heath Bassett from You&Me Personalised Property Services, coming back at you today with a few more client success stories. And this time we’re heading over to your neck of the woods, Heath.

Heath, it’s a success story about your new clients. Tell us a little bit more about Matthew and Chris.

It always starts with a brief

Matt And Chris, two lads from Sydney, Fantastic guys. They gave us a brief of basically here’s our budget. This is what we want to achieve. You go do your thing and come. Come see us when. When you’re done.

So, a fair amount of trust in that. Very much trust. There’s a huge amount of trust from our clients.

Property found in Butler

So, we ended up finding the property within about four weeks. It was in Butler. Butler is a Perth’s suburb located north of the river. Butler is part of the City of Wanneroo local government area.

It’s been a long settlement. Instead of, a normal, 6 to 8 weeks, it’s been about 12 weeks, I think, off the top of my head.

How much did we acquire the property for?

But a little bit about that one: we bought it at $485,000 and we know right now before it’s even settled, which settles in five days.

We already know that you can’t purchase that property under $500,000.

Fantastic. Purchased with the in-built equity: at least $15,000.

Was it worth using our buyer’s agent services?

Rental value

The rental value has come back from our external property consultant. At least $550 per week.

So if you’re doing the maths on that

• $485,000 purchase
• 550 a week rent
• You’re looking at about 5.9% rental yield!

High rental yield

A 5..9% rental yield is insane.

And put in perspective: rental market rental average yields here in Perth? 4.4% rental yield on average.

What was our clients’ rental yield? 5.9%, and that’s the least.

If you would like to know more about what rental yield is, and how to calculate it, please read this article.

What does that mean with the principal and interest?

With a high rental yield of 5.9%, this property was a great investment:

• Principal is paid off
• Interest is paid off

Obviously, 1st of February, we’re talking about this. Anything around the 5.6% to 5.7% rental, will pay off your principal and interest mortgage. Now, we’re saying that in general, because obviously if you go with Keystart, it’s much higher.

If you go with Commonwealth versus NAB versus Westpac, you know, it’s all going to be pretty similar.

But you know, the finance to financial institutes are going to be different with their interest rates. So for around 5.6%, 5.7%, it pays off your principal and interest mortgage.

Overdelivering for our clients

So and then based on the boys with what they want to pay them, and what their brief was, you overdelivered.

Great price: the buyers saved $15,000

Yes, they were prepared to pay $500,000, which was in their brief. I think it might have been a little bit more stretched, but $500,000 is what they wanted. We got a $15,000 under there. We’ve also maintained full communication. We’ve got an instant equity, we’ve got a fantastic rental yield. And that property is and literally four-minute drive from the coast.

Higher rental yield than expected

And what I was getting at by overdelivering the brief is I mean when the boys sat down they were like, you know, if you can get a 5% rent, water will be stoked.

You delivered on price, delivered on location, gave them the home and the floor plan they were after and then you know, we’ve exceeded with the rent return.

Securing a property with a buyer’s agent

We make sure that your property is a great investment

And not only that, I mean it’s a real delight for me to go in yesterday, I had the final inspection and go in and there’s absolutely nothing wrong with it. It was a home. It’s been looked after. And even when they’ve moved out and they have now pretty much except the couch, even the grass is still good. They’ve got the retics still going and you know, whatever, they’ve got it going, but everything’s sweet.

Successful property investors use us more than once

And then from a rewarding point of view, like, you know, once this property settles, these guys are really keen to go again and use us again. So it’s just a testament so far, at You&Me Personalised Property Services, when a client is going for that second purchase, third purchase, fourth purchase, they’re coming back to us to do it again and again.

We love to help buyers and provide the best service it can possibly be

And that’s a privilege. It’s an honour. It makes us really proud because it just reconfirms that we are doing it right. We’re delivering on our promise and we want to keep delivering on that promise.

And if you’re thinking of investing and jumping out there, or even if you’re thinking of relocating to Perth, or you just want to save yourself from making a stupid decision, it doesn’t cost anything other than the cost of a phone call to pick up the phone and have a chat with us and find out if we’re the right team for you.

Thinking of investing in Perth or relocating?

Contact our buyer’s agency

But the funny thing about we’re not stuck in the nineties. Phone calls are free these days too, like that.

• Book your discovery meeting
• Give us a call: (08) 6500 0655

Then the cost on your phone bill, your mobile bill, you get a three. I mean everything’s I don’t know what it is. I got to pay a bill at the end of the app. So if you like me, that might be a small charge for that phone call, if you like. So it’ll be free. But either way, it’s right.

Until next time. Happy investing.