Buying with your SMSF
Client Type: Investors
Service: Search > Assess > Negotiate
Purchase Price: $895,000
Rent pw: $650
Rental Yield: 3.78%
Property: 3-bedroom townhouse
A married couple with a Self Managed Super Fund (SMSF) approached us to find a property that they could purchase with their super fund. They were planning to use a combination of their super money and borrowings from a lender.
They had at least 15 years until retirement and wanted something that had good prospects for capital growth, a reasonable yield, would attract quality tenants, and be little to no maintenance.
Antony Bucello knew exactly what type of property would tick all those boxes, a neat and tidy townhouse or a villa unit on a small parcel of land in a high-growth suburb.
Antony was watching an outer south-eastern suburb, 30kms from the city, enjoy phenomenal growth. This suburb was beachside and had an affordable median price compared to its inner south-eastern neighbours. With a local train station (Frankston Line) and main roads (Nepean Highway or the M1) you could commute daily into the city if desired, or other major work hubs at Frankston or Dandenong.
Antony found a near new townhouse that ticked a lot of boxes.
- 3-bedroom, 2 bathroom
- Private courtyard
- Tandem garage
- Well located
This property was situated in Chelsea in a highly sought-after pocket within an easy stroll to the beach and local shopping strip. Also within easy reach was Chelsea Primary School, the golf course, and the recreation reserve.
The property was on the market right before Christmas and when other people might have been slowing down Antony was busy negotiating on behalf of his clients. Antony submitted an offer subject to finance. Multiple offers were received, and he had to increase their offer marginally.
On the 23rd of December, his clients were the successful purchasers and with a private licence agreement negotiated for the vendor to rent it back for 6 months at $650pw, there was nothing to do but sit back and relax. What a Christmas present!
And now, 6 months later in a strong market, the property is already worth between $950k to $1 million dollars. Retirement is looking good!
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