Here is a potentiallly good project home for anyone interested.
http://www.realestate.com.au/cgi-bi...mt=&header=&cc=&c=5076098&s=nsw&tm=1249936246
Rental return now is 440 per week for a 269k sale.
It is a 4 bedroom place and each bedroom is wired for net access. It is only about 2-3 blocks from Newcastle Mater hospital and very close to a bus stop for a short bus ride to Newcastle uni.
You can easily add more rooms or even a granny flat or whatever in the backyard to increase yield.
It does require work though but the students are happy with it now and are paying 110 per room.
Personally, i'd rent it as is until the end of this year, and then spend the summer holidays working on it and then increase rent for the intake of 1st semester next year - therefore increasing yield.
I have too many projects to take this on at the moment and being based in Canberra makes it a bit difficult to self manage this one.
But for 269k for 4 bedrooms in a good location is potentially a good prize for someone. Jut keep in mind the work that is required to tart it up.
Good luck
g
http://www.realestate.com.au/cgi-bi...mt=&header=&cc=&c=5076098&s=nsw&tm=1249936246
Rental return now is 440 per week for a 269k sale.
It is a 4 bedroom place and each bedroom is wired for net access. It is only about 2-3 blocks from Newcastle Mater hospital and very close to a bus stop for a short bus ride to Newcastle uni.
You can easily add more rooms or even a granny flat or whatever in the backyard to increase yield.
It does require work though but the students are happy with it now and are paying 110 per room.
Personally, i'd rent it as is until the end of this year, and then spend the summer holidays working on it and then increase rent for the intake of 1st semester next year - therefore increasing yield.
I have too many projects to take this on at the moment and being based in Canberra makes it a bit difficult to self manage this one.
But for 269k for 4 bedrooms in a good location is potentially a good prize for someone. Jut keep in mind the work that is required to tart it up.
Good luck
g