To whom it may concern
My brother and I wanted to buy an investment property to set us up for the future, but we weren’t sure what we should buy or where.
As first-home buyers we had a budget of $550,000, and Tony Rindfleisch led us on a search for a two-bedroom apartment or unit within 800 metres of a train station in Melbourne’s inner eastern suburbs.
We started searching in Hawthorn but the prices of quality properties were more than $600,000, so we moved out along the train line, continuing to Camberwell.
Tony kept his eye on Hawthorn and we attended the auction of an apartment in a block of seven units in Hill St. The property was perfectly located within about 400 metres of the Hawthorn train station, the Yarra River and Bridge Rd.
After the auction, we secured the property with an undercover car park for $415,000 in March 2014.
Tony negotiated expertly. He understood the vendor’s motivation to sell and managed the situation so that we effectively became the best option for the vendor.
We were ecstatic, but our purchase has proved to be far better than we expected.
Only 15 months later, in June 2015, the two-bedroom apartment above ours sold for $590,000 – $175,000 more than the price we paid the previous year.
The $590,000 apartment has a balcony that ours does not, but it is unrenovated and our apartment has a renovated kitchen and bathroom.
Thanks to Tony, our property investment journey has got off to a flying start.
In my job, I wish I could make $175,000 in 15 months. But with our property, I don’t even have to work to enjoy that benefit.