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From: Lesley .
My partner and I are just about to take the leap and purchase our first IP. As you can all imagine, the first time is always the worst (most nerve racking) and we really don't want to make a mistake. Our strategy is to gain some passive-income-producing assets for the long term. Three properties have grabbed our attention: (First two in Brissie, last one on Gold Coast)
1. Purchase price 170K, 3 bed, 2 bath, lug townhouse in complex of about 60 in Cleveland, mainly investors. 100% (or close to) tenancy rates within complex, close to everything. Currently rented out at $205 per week. Property is approx 3.5 yrs old. I believe fairly good capital growth area, but may be a bit far from the city (30km) for an investment? What about the age and opportunity for depreciation?
2. Duplex in Manly. New (complex still being completed), 3 bed, 2 bath, lug, complete with depreciation schedule. Mainly owner occupied complex (really tasteful). Purchase price 195K. Although no records of tenancy rates, I believe there will be no problem with tenancy due to the location and proximity to facilities. Probably will rent at $210+ per week. I believe very good capital growth area. 16km from city.
3. New 2nd floor 1 bed unit in a low rise (3 floors) apartment block on the Gold Coast (Labrador). 1 X U/C parking space only. 1 block from beach, aircon, fully furnished. Located behind two 9 storey apartment blocks. Close to absolutely everything. Mainly investor complex of approx 78. Purchase price 172K including furniture. No record of tenancy rates, but guaranteed (HA!!) $200 per week rental. No idea of capital growth as it's not our turf.
Considering our strategy, can someone out there tell me if any of these are worth it and what else should we be looking out for/considering when assessing IP's. The return on all of these are only around the 6% mark. How the hell do some of you get that 8% that's often talked about?!!!
My partner and I are just about to take the leap and purchase our first IP. As you can all imagine, the first time is always the worst (most nerve racking) and we really don't want to make a mistake. Our strategy is to gain some passive-income-producing assets for the long term. Three properties have grabbed our attention: (First two in Brissie, last one on Gold Coast)
1. Purchase price 170K, 3 bed, 2 bath, lug townhouse in complex of about 60 in Cleveland, mainly investors. 100% (or close to) tenancy rates within complex, close to everything. Currently rented out at $205 per week. Property is approx 3.5 yrs old. I believe fairly good capital growth area, but may be a bit far from the city (30km) for an investment? What about the age and opportunity for depreciation?
2. Duplex in Manly. New (complex still being completed), 3 bed, 2 bath, lug, complete with depreciation schedule. Mainly owner occupied complex (really tasteful). Purchase price 195K. Although no records of tenancy rates, I believe there will be no problem with tenancy due to the location and proximity to facilities. Probably will rent at $210+ per week. I believe very good capital growth area. 16km from city.
3. New 2nd floor 1 bed unit in a low rise (3 floors) apartment block on the Gold Coast (Labrador). 1 X U/C parking space only. 1 block from beach, aircon, fully furnished. Located behind two 9 storey apartment blocks. Close to absolutely everything. Mainly investor complex of approx 78. Purchase price 172K including furniture. No record of tenancy rates, but guaranteed (HA!!) $200 per week rental. No idea of capital growth as it's not our turf.
Considering our strategy, can someone out there tell me if any of these are worth it and what else should we be looking out for/considering when assessing IP's. The return on all of these are only around the 6% mark. How the hell do some of you get that 8% that's often talked about?!!!
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