I purchased the above block of 6 apartments at auction on the 15^th of May 2003 on behalf of a group of 5 investors. Two of the original investors still  own an apartment each in this building, the other investors have now sold their apartments taken their profits and moved onto other investment opportunities.

The block of apartments was purchased on a 90 day settlement and settled in August 2003. After settlement I arrange a makeover of the outside of the property including repainting the exterior in modern colours and minimal garden work. The block of 6 three bedroom apartments is located in a quiet leafy side street in North Caulfield, an inner south-eastern suburb of Melbourne. The total purchase price was $1,735,000. The property today is worth in the vicinity of $3,300,000 an increase of over $250,000 per apartment. The 2 investors that still own the apartments today now have positively geared investments, meaning the tenants’ rent now pays the remaining bank loan and all outgoings associated with the ownership of the property.  

The apartments will continue to increase in value in the years to come and more than likely double again in value in the next 7 to 10 years. As the value of one apartment in the block today is in the vicinity of $550,000 and if the property does double again in value within the next 10 years the owners will enjoy a capital growth of over HALF A MILLION DOLLARS... in excess of $50,000 per year... that is over $1000 dollars per week on average... and it is costing them nothing to keep... it doesn’t get much better than this! With time the right type of investment property just keeps getting better and better!

What are your property investment plans over the next few years? Properties will increase in value and property investors will continue to enjoy the benefits’... when will NOW be a good time for you to start or add to your property investment portfolio? The time will pass regardless of whether you do or do not invest in property.

Many years ago when I started my working career I had numerous superannuation sales people try to sell me policies. My response was always the same, ‘I said I would create my own wealth through property investment, property would be my superannuation.’ One day I was sitting in front of a sales consultant and he said to me ‘ If I knock on your door in 40 years and give you a cheque for “x” number of dollars no matter how wealthy you are, will you accept it?” I took up the policy!

Money funds life, money gives you freedom of choice. HOWEVER you have to make the tough decisions. You have to decide to take action! Your past choices and decisions to date have given you your current set of circumstances and your current net worth. What will your net worth be at the end of this decade? Do you have an investment plan?  Some of our clients will be financially independent for the rest of their life as a result of the commitments they have made, they will never have to work again unless they want to!

We are constantly sourcing exciting investment opportunities through our extensive network that has been established over the last 25 plus years, we would be delighted to help you as well. Please feel free to contact me for a no obligation fact finding chat at your leisure.    

I have been involved in the property industry all my working life. I have been fortunate enough to enjoyed a lifestyle over the last 10 years most people only ever dream of! My personal guarantee is – If I do not add double the value of my success fee to your investment property, then you decide at settlement how much you believe my service is worth – INCLUDING PAYING ME NOTHING IF YOU CHOOSE! Happy investing, Scott Banks

EMAIL: scott@scottbanks.com.au  PHONE:1300 537 274 www.scottbanks.com.au  www.propertylive.com.au  www.kerbsideappeal.com.au