Hey all,
Have just popped in after a nice holiday trip over to Bali - one word - cheap!
I have been looking at a block of units in Griffith NSW, being a population over 20k (from ABS), a town with no flood within the center and with this particular property can come across a near 9.5% yield, anyone have experience with 1. block of 4 units and in a area such as Griffith? (6 hour drive from Sydney) Is this a good buy?
The only downside I can see is its an older brick units conjoined (1960s) and griffith lacks the govt support as the basin plan got scrapped which may affect the already pretty stagnant (unless over 10 years?) population size.
The numbers in term of cashflow look good - but growth is the major factor, would there be any in the next 3 years?
Property is 420k
4 properties at $175 rent = $700
loan of 340k, repayment is around $1413
Rates - $1-2k a quarter
Profit - $250/week sounds good!
Have just popped in after a nice holiday trip over to Bali - one word - cheap!
I have been looking at a block of units in Griffith NSW, being a population over 20k (from ABS), a town with no flood within the center and with this particular property can come across a near 9.5% yield, anyone have experience with 1. block of 4 units and in a area such as Griffith? (6 hour drive from Sydney) Is this a good buy?
The only downside I can see is its an older brick units conjoined (1960s) and griffith lacks the govt support as the basin plan got scrapped which may affect the already pretty stagnant (unless over 10 years?) population size.
The numbers in term of cashflow look good - but growth is the major factor, would there be any in the next 3 years?
Property is 420k
4 properties at $175 rent = $700
loan of 340k, repayment is around $1413
Rates - $1-2k a quarter
Profit - $250/week sounds good!