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INVIDA Custom Build : Frequently asked questions
We have a number of different strategies available, of which our team will assist you in finding the best fit for your property goals. Currently, you will need a minimum of $180,000 cash/equity to qualify for an INVIDA co-living property through our buyers agency or custom-build process.
When you engage INVIDA to act as a Buyer's Agent for your co-living property purchase, or to work on your conversion, or custom-build project, an initial engagement and final success fee is payable to INVIDA in addition to your project costs. These are fixed and agreed upon when you commence your agreement with INVIDA. To find out more about our fees and charges, book your strategy call here.
Are there any other fees? From time to time, the local council where your project is located may impose additional charges. In these instances, any charges will be payable by you, as the property owner.
With INVIDA, there are a variety of paths you can take, from buying an existing property through our buyers agency and using the INVIDA construction team to convert it into co-living, to purchasing a house and land package, where one of our approved builders constructs a custom designed co-living property for you.
Each of these options has a different project duration, ranging from 6 to 12 months.
During your 1-on-1 strategy session, we will discuss your individual property goals and financial circumstances, and we will be able to assist you in deciding on what’s the best fit for you.
After your initial strategy call, our team will arrange a financial assessment with a recommended Mortgage Broker. Within just a few business days of completing the financial assessment, we will arrange another appointment to discuss the investment options suited to your property goals and financial circumstances. Once you have decided which option you would like to proceed with, we can commence sourcing your investment property immediately.
Yes, from the moment you book your first strategy call, our team will guide you through a simple step-by-step process that achieves a positive cash flow investment property through co-living. We have a team of professionals assisting throughout the entire process, including; Mortgage Brokers, Solicitors, Buyers Agents, Trades People, Builders, Insurance Brokers, Property Managers. We will be with you the entire way.
We have preferred property managers who specialise in co-living investment properties. Once your property is purchased and converted to co-living, or custom built from the ground up, we will hand you over to the Co-living Property Manager and they will fill the rooms and manage the property on your behalf. It's a completely turn-key investment, allowing you to purchase in locations around the country where the return on your investment is optimised.
INVIDA properties benefit from both superior cash flow AND capital gains that are as good or better than ordinary properties. Due to the high cash flow associated with INVIDA co-living properties, they are sought after by investors who are often willing to pay a premium to buy a turnkey property with established positive cash flow and tenancy.
The demand for affordable co-living rentals is phenomenal. Why? Because tenants save 1/2 to 1/3 off their typical weekly rent, and they have their own private space with the benefit of co-residents to build friendships and community with.
People in all stages of life gravitate towards co-living; from students to full-time workers, small business owners and retirees. While not everyone is familiar with the concept, the practicality of one all-inclusive weekly rent payment soon wins them over. As does the privacy and security of self-contained living. As a co-living investor, you're helping to provide much needed quality, affordable housing which can often help residents save faster for their own home.
INVIDA co-living properties are located in states and local government areas that have favourable legislation that support this type of housing. We can source you a cash flow positive property in Queensland, Western Australia, Victoria, and South Australia.
Because we provide a turnkey service and ongoing property management, you don't have to invest in a state that you live in. In fact, we will steer you to the best possible financial outcome for your budget and situation.
The rules and regulations around co-living are many and varied, and for the novice investor, there are many ways you can come unstuck with hefty fines as a penalty. We are the leading co-living experts in Australia with over 15 years of experience implementing and teaching the strategy. With our team behind you, you can rest easy knowing that your properties are compliant with all relevant legislation.
The market is moving and the sooner you get in the better gains you’ll get. Booking your 1-on-1 strategy call will help you decipher if you’re financially ready, and what to do to get ready if you’re not. Our team and preferred mortgage broker can quickly assist you in creating a plan to implement the strategy so that you can get to financial freedom faster.
To learn more, book into to one of our upcoming online masterclasses, where our founder and leading Australian co-living expert Ian Ugarte, explains the strategy in detail and answers your questions. To book into the next masterclass, CLICK HERE.
The last bedroom is called "Media". This is to assist with getting finance as it is less likely to be flagged as a 1B building by the banks and put the handbrake on your finance application. Sometimes it's an issue and sometimes it isn't so we play it safe by labeling it a Media Room.
While we can't offer legal advice, if you are happy to sign it without, that's fine as it is a standard land contract. Just ensure it is made out to the right person(s) or entity. If the contract is in the wrong name or misspelled, it can be a huge headache and possibly expensive to change later.
If you wish to discuss your land contract prior to signing, please arrange a meeting with CJM. They have limited availability so we suggest you book your appointment at your earliest convenience.
For WA Contracts – with Shannon McLaughlin
https://calendly.com/shannon-505/contract-review
For QLD Contracts – with Isabel Chang
Unless demand is exceptionally high, we don’t place more than 5-6 co-living properties in a single suburb. This allows all properties to remain in strong demand.
Normally, within 10 days of advertising we have most if not all rooms filled. There are usually a surplus of applicants so we have a waiting list ready for the next property that comes available.
Demand is extremely high in most areas so within the first 7 days, we would typically receive 50+ applications
INVIDA Property Management run test ads across a few of the popular platforms for 3-4 days and gauge prices based on the number of enquiries and clicks on the ad.
Rarely does an INVIDA client sell their co-living property. Why would you? In special circumstances properties have been put on the market and as soon as the rental income is advertised, there are investors pushing each other over to secure the property. They are in high demand due to the high yield as well as the versatility of our designs.
Yes! Everything in the furniture package is yours. The only items that are on loan are a few small items for staging, like pictures, ornaments and fake plants.
