Barbara came to us looking to purchase US property using her self-managed superfund. After working in the IT industry most of her career, she was ready to look to retire and wanted to set up a good solid passive income without the need for mortgages and debt pressure, particularly causing issues with loan serviceability once she finishes work.
We were able to find an apartment building in Portlance St in Detroit in Michigan which suited her investing strategy. Property was for sale for US$145,000 but we were able to secure for her for US$125,000. The property consisted of 1 x 2-bedroom apartment and 6 x 1-bedroom apartment, bringing a total of over US$3000 per month in rent with all apartments tenanted
After costs, this building alone, is providing Barbara with a US$21,500 income per year, ROI of over 17% on her investment.
Barbara has since gone on to purchase 2 more properties and another apartment block! Total income per year is now over $55,600 per year US DOLLARS! At a total portfolio of LESS than $340,000.