Welcome to your weekly blog update. In addition to the weekly call, I'll send you a written update each Friday on what's been achieved this week and what's happening next week. This blog will also be used to contact report our calls and allow you to make comments etc.
We have been working with our mortgage broker this week and i'll update you on the call tomorrow. I'm also hopeful that we will have the paperwork from the solicitor for the POA in the next day or so. Nonetheless, I'll still call you tomorrow for our weekly catch up and to take you through the website in more detail.
I wanted to share some progress pics with you on a current cosmetic renovation we are working on. This client has used nearly all of our services:
• Based on their brief (an investment property with good capital growth and high rental yield) we undertook macro to micro research of the Australian market • Recommend regions and suburbs • Recommended, negotiated and purchased the property prior to the auction • As part of the settlement, we negotiated early access for our interior designer to create design boards (colors schemes, carpets, blinds, fixtures, and fittings) and for our trades to measure and quote • This meant our renovation team was ready to hit the ground running on the day our client took possession • We also worked with our recommended managing agent to open the property the following Saturday so we could start tenant viewings
• We provided the design mood boards so prospective tenants could visualise how the property would look post cosmetic renovation • We secured a tenant that weekend, receiving an additional $40/week in rent (as per our post renovation rental appraisal) • We had a budget of just under 20K and two weeks to complete this nifty cosmetic renovation • The property needed to appeal to the rental demographic and produce an income as quickly as possible.
Check out the progress pics on our Pinterest page here. The timber flooring, bathroom, laundry, and blinds are being completed now. I'll be sure to send you a full case study once the project is complete.
Our Data Scientist has finished gathering the data for May, so look out for our May Australian property market update in the next week's update.