SPI investment property generates media interest
Smart Property Investment’s focused approach to property investment has generated significant interest with both Sydney’s media and property investors.
Smart Property Investment editor Phillip Tarrant featured in today’s Penrith Star, alongside the magazine’s latest property project in Sydney’s Cambridge Park – with the story taking out the number one position on the newspaper’s online most-read list.
The Cambridge Park property is one of several properties the leading property title has purchased over the past 12 months as it builds its own a portfolio of properties and shares its experiences with its readers.
"We've put our money where our mouth is," Mr Tarrant told the newspaper.
According to Mr Tarrant, a tight rental market and strong transport links in Western Sydney are among the key factors creating potential for lucrative but affordable purchase opportunities in the region.
“Our annual Fast 50 report, released earlier this year, highlighted the Western suburbs of Sydney as a real growth corridor and these predictions have been reinforced as the year has progressed,” he said.
“We have bought into Sydney’s West, which we see as one of the real growth areas of the Sydney property market,” he said.
Penrith’s Cambridge Park has a median weekly advertised rent of $353, according to RP Data, with a median house price of $315,000, equating to a healthy gross rental yield of just under six per cent.
With the help of buyer’s agent Right Property Group, Smart Property Investment purchased its 4 bedroom Cambridge Park house for just $236,000 – well below the suburb’s median house price.
A cost effective renovation has now boosted the property’s value by 50 per cent and rental income by 100 per cent – resulting in a cash neutral position.
According to Mr Tarrant, Smart Property Investment’s Cambridge Park investment serves as a good example of purchasing a property at under-market value and undertaking a focused cosmetic renovation in order to accelerate rental returns and boost capital value.
“Investors who can pick the right property, buy it at the right price and complete a quick but strategic renovation can secure some great returns in Sydney’s west,” Mr Tarrant said.
Investors who are interested in this investment strategy can learn firsthand how the Smart Property Investment team boosted their returns at the free Smart Property Investment open house, held on site next Saturday 19 May.
Investors who attend the Smart Property Investment open house will have the opportunity to meet all the experts involved in the project as well as receive a complimentary gift bag valued at more than $500. They’ll also go into the draw to win a prize pack valued at over $15,000.
To secure your place at the open house CLICK HERE NOW.