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On initial purchase price. Was just trying to give a rough idea of performance. I am a sticky note gal not a spreadsheet queen :D

Actually Harris you DO give me too much credit. This was a joint purchase and as mentioned earlier in the post sourced by some-one else. Yes I did then get in and get involved but after purchase have rarely visited and done no work apart from essential repairs. My Hobart property was another...

Thank you! One small correction though. These properties have not been furnished. You might be thinking of my Hobart ones? And taking 12 months off will involve some property improvements to maximise rental returns, and watching the pulse of the market. But those are the fun bits of...

Thanks Dazz. Not ready to beam yet. Just a little smile :) This is all part of a risk management refinance plan and until it's locked down there will be no celebration. I am understanding asset rich cash poor better every day! We will now take a breather and will review things in around 12...

I forgot to mention we negotiated hard :cool: Got WAY under asking price. That gave us some serious instant equity on settlement. It also pushed us over the line into millionaire territory. It's true the first million is the hardest!

Wylie It was a number of things. It was a "bulk purchase" hence out of many people's price range - at least psychologically. I purchased less than 50% of the whole. There was basically no buying competition. The vendor would have done better to split it up but chose not to for their...

Yes 17% is cashflow positive but negative on paper after deductions. My favourite outcome. This property is all thanks to some-one on this forum but unsure if they want their name mentioned. Thank you!

Not yet but I'm getting there!

A rewarding day today. As part of a painful refinancing exercise I have had properties revalued in Launceston. Purchased for $360K in 2002 just revalued for $1.27 million. Around 12% yield on purchase. No improvements undertaken. Now 17% yield. Nice :D