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Great post Corsa!!! :) Just a small thing... as the property was held for over 12 months the CGT is 25% (not 48.5%, although I understand why you make it 48.5%). :)

Sorry, didn't mean to come out as "arguining" against the points you made earlier. Valid points :) As I said, it is not a block for cashflow... when I bought it it was fantastic cashflow... 540pw on purchase price of 240k! I had a smile from ear to ear! :D Thanks for such a good thread...

Hi guys, I'll just add a little to the discussion... Yes I ddi pay 240 for it in 2002. I strata titled it and did some roof and minor bathroom work. I have nothing to hide (as I sold it) and I DO have a val for 450k from a registered valuer in Townsville. I had it valued at 390 6 months...

Desparation. :( When you make bad decsisions, which cost you a lot of money (BTW not in property, in business), you have to do something to recover. If I had more time, I would have wanted more $, but because things were getting very very very tight, it just had to go. Funny how I was...

Do you mean not a good deal for the buyer or me (the seller)?

Sold for 410k. 21 day unconditional contract. I have a registered valuation of 450k as is right now. You guys should have made offers :)

Sold.......

Oops sorry... misread it as "is" instead of "in" Address is: 32 Albury St, Pimlico Here is the reference to it on realestate.com.au http://www.realestate.com.au/101385007

It's a suburb of Townsville

I am discounting the list price by $50k. So asking $440k. If anyone is interested, today is the last day it'll be listed. Cheers Iggy :)

Hi all, I am selling my block of 5 flats in Townsville. It's a brick block, with a new roof and about to be finish new driveway (required by council). Unrenovated, so plenty of room to improve and revalue. The units are already on separate titles, so you can sell them individually after reno...