Hi folks. For a while now I've been following apartments in the CBD of Adelaide. I've only been looking at low-end scale for between 60K-90K.
They are 1 bedroom apartments, but essentially only two rooms (main area and bathroom).
They often are already tenanted and can produce some really good numbers.
a $69K apartment last year gave income of approx $6000 for the year.
Property will be paid off in 11 and a half years.
Apparently its a 9.25% return, better than anything a bank can offer on investment funds.
But what are your experiences with Adelaide CBD or other city metro apartments. Worthwhile or not worthwhile?
I'd likely purchase the property using a bank loan and concerned that would totally mess with the profits.
They are 1 bedroom apartments, but essentially only two rooms (main area and bathroom).
They often are already tenanted and can produce some really good numbers.
a $69K apartment last year gave income of approx $6000 for the year.
Property will be paid off in 11 and a half years.
Apparently its a 9.25% return, better than anything a bank can offer on investment funds.
But what are your experiences with Adelaide CBD or other city metro apartments. Worthwhile or not worthwhile?
I'd likely purchase the property using a bank loan and concerned that would totally mess with the profits.