Hi Everybody,
I have been offered a one bedroom unit in Newport for 260K . It is through a buyers agent so there is a fee of 13k. I reckon I am all in for 310k with 20k for an external and internal reno. The predicted rent it 280 pw and the value add should bring it up to around 330k. The body corporate fees are 400 per quarter and if my husband buys it we can negatively gear as he is in a high tax bracket. My agent is saying this is the closest I am going to get to being neutrally geared and should get good capital growth and a yeild of 4.5 %.
There are not very many one bed units in Newport so that is attractive and it is on a good street.
First thing is do my figures seem right?
Secondly is it a Fantastic deal or just OK?
Thanks in advance
Sarah
I have been offered a one bedroom unit in Newport for 260K . It is through a buyers agent so there is a fee of 13k. I reckon I am all in for 310k with 20k for an external and internal reno. The predicted rent it 280 pw and the value add should bring it up to around 330k. The body corporate fees are 400 per quarter and if my husband buys it we can negatively gear as he is in a high tax bracket. My agent is saying this is the closest I am going to get to being neutrally geared and should get good capital growth and a yeild of 4.5 %.
There are not very many one bed units in Newport so that is attractive and it is on a good street.
First thing is do my figures seem right?
Secondly is it a Fantastic deal or just OK?
Thanks in advance
Sarah