Buyer Examples

Mr A. is a director of a large publicly listed company and earns a substantial income. As part of his investment and retirement strategy, Mr A approached Rimington Advisory in the Spring of 2006 with the intention of purchasing his first property investment. Upon receiving the brief from the client a maximum budget of $530K was determined and his preference for a house over a unit or apartment etc was a key element of his brief. After approx 5 weeks of searching for an appropriate property the client purchased a free standing Victorian terrace house in Thornbury. The purchase price negotiated was $500k which was less than the property passed in for a week earlier at Auction. Upon settlement the property was quickly leased at a solid rental and the property has not been vacant since.

Subsequently in November of 2007 Mr A contacted Rimington Advisory and indicated that he wished to add to his property investment portfolio. As prices had moved since his initial purchase some months earlier, a maximum budget of $630 was established and again the client decided to ideally purchase a Victorian terrace style home. Some 3 weeks later Rimington Advisory attended an Auction of a suitable property in North Fitzroy where after the property was passed in to us at $598K where we negotiated a purchase at $602,500 The vendors expectations on the day were considerably higher and the negotiations took nearly an hour after the Auction but in the end the property was secured and our client saved nearly $30K on what they would have paid to secure the property.

Mr D is a client referred to us by Mr A. (a common method of business at Rimington Advisory). A brief was taken and it was determined that Mr D had a maximum budget of $600K After approx 6 weeks a suitable property in Northcote was found and purchased at Auction. Being passed in to Rimington Advisory, we negotiated a purchase at $585K which took most of the afternoon and evening. Contracts were signed on the Sunday after parties came to an agreement and Mr D used a local agent recommended by us to manage the property for the long term.

Mr and Mrs H were referred to Rimington Advisory by their financial advisor and after taking a brief from the client’s it was determined that their budget was $450K. Mr and Mrs H wanted to purchase a new apartment and take full advantage of depreciation allowances etc. After a lengthy search for a suitable building, developer and location (not an easy job!) an apartment in Elwood was purchased for $438K. The building had nearing completion and upon settlement a suitable tenant was found and Mr and Mrs H are now considering adding to their portfolio.

Mr J is an astute and experienced property investor with a substantial portfolio. Specialising in commercial property and wanting to make another purchase, Mr J decided that this time he would use the services of an advocate to do the leg work for him. After taking a brief it was determined that Mr J wanted to concentrate on opportunities with a retail basis and with a maximum budget of $3m. After approx 5 weeks of searching and reviewing the market a suitable bulky goods retail outlet with a national tenancy in place was sourced and purchased at Auction. Mr J was very pleased with the purchase and remarked on the smoothness of the transaction.

Mr R is a local Stonnington business man who wanted to upgrade into a larger home. Having little time due to business commitments Mr and Mrs R decided to engage Rimington Advisory to search for an appropriate property for them to live in. A brief was taken and a budget of $2.0m was determined. With Children at private schools the intention was for Mr and Mrs R to stay within the city of Stonnington. After several weeks a suitable property was found and Rimington Advisory attended the Auction on their behalf. As is sometimes the case however the property was (as expected) very popular and the home eventually sold for an amount higher than our client’s budget. Disappointed but not dejected, this may have been a blessing in disguise as the market was starting to soften and 6 weeks later Rimington Advisory was able to negotiate the purchase of a suitable home for nearly $100K less than their budget. Whilst the property needs some updating, the location was even better than they had hoped for and Mr and Mrs R are now able to concentrate on business and a busy home life.

Dr K and Ms N are busy professionals with no time (or inclination) to hunt for a new home in which to reside. Having a holiday home down on the Mornington Peninsula that they travel to most weekends and with no children, Dr K and Ms N were keen to purchase a town residence with low maintenance and good security. After much deliberation and an extensive brief it was determined that a Townhouse would suit their lifestyle and accommodate two small dogs. A budget of $3-4 M was determined and some very specific criterion included within the brief. A search for nearly two months ensued until an agent called to notify us of a property they had just listed. Upon inspection the clients were notified and negotiations took place. As is sometimes the case the negotiations were very involved as the vendor had not set a specific price and was effectively looking for offers. Market knowledge and experience is invaluable in this situation and a successful purchase took place.

Mr P was an expat returning to Melbourne with his family after several years living in London. Upon arriving home the family realised that they had outgrown their old home in Surrey Hills and they required something larger. A brief was taken and it was determined that Mr P and his family would like to buy a block and build a new home. A maximum budget of $1.5m was established and after several weeks a suitable site was negotiated. Extensive discussions with a suitable Architect and builder (recommended by Rimington Advisory) are now underway and Mr and Mrs P look forward to building their dream home.

Mr V is a young expat IT professional living in Germany. Melbourne born and raised, Mr V was keen to start an investment portfolio and his Financial Planner referred him to Rimington Advisory. A brief was taken and a maximum budget of $300K was determined. Mr V was keen to buy an apartment in the inner city so using our investment criterion (established over many years) Rimington Advisory sourced and negotiated the purchase of a suitable apartment in a select block of only 12 units. Situated in Fitzroy and with off street parking and the city tram at the front door, the apartment was easily leased and has not had a day of vacancy in over 4 years!

Note: Rimington Advisory uses our unique and extensive property investment criterion as the basis for all property investment recommendations and purchases.

Note: Pictures on this page are representative only and are not Rimington Advisory clients. Privacy of our clients is paramount and we do not disclose the names or identities of our clients -- see our privacy statement.