Infinity Property Agents management sydney

September 2015

“Renovations for Profit”

Over the past 4 years, Infinity Property Agents have managed a two bedroom apartment in Virginia Street, Rosehill. The average price of a two bedroom apartment in Rosehill was $425,000 (see list below).

The property was generating a rental income of $350 per week, with an estimated sale value of $390,000 to $400,000 in its current condition. The owner advised that they wanted to sell the property “as is” without any renovations.

The Director of Infinity Property Agents, Michael Kurosawa advised the client that the best option to achieve a premium sales result was for the property to be vacated, renovated and sold. We estimated that we could achieve a sale price of $500,000 based on a $30,000 renovation spend.

Renovation to Sale Service:
A common error for property owners is to overspent on renovations. Having Infinity Property manage the renovations resulted in total renovation costs of $30,500. We made changes to the kitchen and bathroom. The property was painted and new carpets and blinds were installed. The property was listed for Auction and within three weeks the owner accepted a pre-auction offer of $510,000. Although the new owner wishes to live in the renovated home, a new rental value has been estimated at $420 per week.

Kitchen renovation  Bathroom Renovation

Good advice and selected renovations carried out by Infinity Property Agents resulted in a net benefit to the owner of an additional $80,000. Not only did we come in on budget for the renovations, but we also achieved above our best sales estimate.

SALE: $510,000 – August 2015
http://www.infinityproperty.com.au/selling/NSW/Parramatta/Rosehill/Apartment/1P1918

To find out how we can achieve a similar result for your property, contact Michael Kurosawa on 0411 641 662 or our sales team on 9699 9179.

Other Agents Results:

13/77 Virginia Street Rosehill NSW 2142
http://www.realestate.com.au/property-house-nsw-rosehill-116495035
Sold for $425,000 in April 2014

2/44 Virginia Street, Rosehill NSW 2142
http://www.domain.com.au/property-profile/2-44-virginia-street-rosehill-nsw-2142
Sold for $425,000 in February 2015

To find out how we can achieve a similar result for your property, contact Michael Kurosawa or our sales team on 9699 9179.

Bedroom Renovation  Lounge room renovation

September 2015

“SOLID ADVICE RESULTS IN PROPERTY MANAGEMENT SUCCESS”

A two bedroom property in the tranquil suburb of Dee Why was recently leased by Infinity Property Agents of Alexandria in just 24 hours!

Perfectly position with its premium location close to Dee Why Beach, the property had formerly been under the management of LJ Hooker. Mark, the owner of the property since 1993 was obviously keen to see a greater return on his investment. The current tenant had lived in the property for the past 12 years and the rental had sat stagnant along with the tenant at $360 or less for all of this time, whilst the rental market has appreciated significantly. Mark was referred to Infinity Property Agents Director Michael Kurosawa for advice.

Michael advised the property owner to make a change to the current tenancy arrangement, make strategic renovations to the property with a budget of between $6,000 and $8000 during the vacancy period and re-lease for an increased ongoing return.

The owner subsequently took Michaels advice with a capital expense of $6,000. Whilst Mark feels that he will take a short term “hit” as a result of the expenses and the loss of rent during the month long renovations, this should be recouped over the next 15 months with Infinity Property Agents achieving a current market value rent of $475 per week (32% increase) and a capital appreciation of the property as a result. The property took less than 24 hours to rent to a qualified tenant with prospects for long term rental improvements expected in the years to come.

To obtain insights into current market values of your property and advice on how best to achieve a better return on your investment, call Michael Kurosawa on 9699 9179 or visit us online at www.infinityproperty.com.au