Performance Property Data

“It was literally all the money was pouring into a hole.” Sharon’s guest on this episode of The Property Pineapple is hotelier and family man, Jim Croft. Jim and his wife bought their first property as an investment in 2007. Although optimistic about its investment potential, they also chose the place based on it liveability, in case they would need to stay in it longer than first planned. Jim wanted a place a little further out of town with some land, but his wife pushed for a property more central, with a focus on short-term gain. They compromised and opted for a blue-chip suburb as a safe investment option. The place was an apartment in South Yarra, a short walk to St Kilda Rd, the city, and the MCG. The apartment came furnished, but Jim and his wife weren’t fond of it all. So they purchased new furniture, a TV, cutlery, and other assorted things, and were able to increase their rental yields by over 50%.   They also owe much of this increase to them being ruthless in deciding who could lease the property.