How to work out total costs ?

[Evad]

Hello evevryone.
i am looking into buying a section and does anyone know how to work out the total costs to the doller and is this actually possible. (i know or asume is possible but how do you "actually" do this and be confidant that you have done it correctly)

What I mean is... NB: all fictional Figures (sort of)

PP = $190,000
IR = $ 7.5 ( made up)
Rent = $1000 / month
Rates = $1200 / year
Insurance = $1200 / year
Maintance = $1000 / year
and anthing else i missed (please let me know)

= either negitive $40 (made up) OR
= positive $40

How do i work out these things to see if a investment is a good investment? Is there an equation for this? And what else is there to be aware of?
Thank you all in advance.
Evad

 

[want2bewealthy]

purchase price, multiply by the current interest rate is holding cost per annum, then add up rent in minus all fees.

 

[travelbug]

On top of your purchase price you have to add taxes etc. You will be paying interest o the total amount borrowed

So PP+taxes, stamp duty etc (minus deposit if any) X interest rate
+ insurance
strata if applicable
ongoing maintenance
rates Management fees
land tax if applicable

Take rent from all that gives you the amount -ive or +ive. Minus tax deduction if -ive.