Manawatu

Row of attached light-colored investment properties with steps leading to entrances, small yards with wooden fences, driveway, and an antenna on the roof, under a partly cloudy sky.
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Purchase Price $805,000
Post Renovation Valuation $2,100,000
Net Equity Gain $851,000
Original Annual Rent $93,600
Post Cashflow Hacked Rent $197,600 (+111%)
Gross Yield 15.3%+

Off Market deal. 10 x 1 Bedroom Units. Cosmetic renovation which over doubled the rental income by providing a type of property to the market that didn’t exist in this area.

Pre renovation rents would have been cashflow positive, however it was the renovation that created substantial equity gains which formed a deposit to enable another multi unit purchase.

Whangarei

A single-story white house with a metallic gray roof, a garage with a roll-up door, and a small front yard with some green grass and concrete driveway. Wolfe Property Client Investment Property
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Purchase Price $536,000
Post Renovation Valuation $750,000
Net Equity Gain $154,000
Original Annual Rent $36,400
Post Cashflow Hacked Rent $59,800 (+64%)
Gross Yield 10%+

Local buyers who were able to successfully contain their renovation spend by making this a family affair, saving precious dollars while also adding two additional bedrooms to achieve huge passive cashflow from day one.