Hi everyone, first time poster, however been reading this forum a long time and learned quite a bit and trying to put that to use.
So after reading quite a few posts on how to find the true value of a property, I have done some research and this is what I came up with.
This unit is listed at 210K. Bank can give me more but my personal limit is 250K. I havent been to the place yet, just doing research but plan go do an inspection this weekend.
Spec for the unit:
Bedrooms: 3
Bathrooms: 1
carport: 1
Aircon in bedroom
it last sold for $30,000 in 2000
findmeahome reports it to be worth $205k to $215k
Refind gives this info:
Jan 2011 listed for $199,000
May 2008 listed for $219,000
Apr 2008 listed for $219,000
A similar unit will rent for 260$/week in that area.
Body corp is 1200$/year
could not get the strate fees... where do I get this ?
a similar unit sold for 180K in Feb 2011.
The average rental yeield for this area for units with price of $210,000 with a weekly rent of $255 is 6.31%
I rate this unit at 170K and wont go over 180K...
Is my aproach correct ? Can I further refine it ?
many thanx.
So after reading quite a few posts on how to find the true value of a property, I have done some research and this is what I came up with.
This unit is listed at 210K. Bank can give me more but my personal limit is 250K. I havent been to the place yet, just doing research but plan go do an inspection this weekend.
Spec for the unit:
Bedrooms: 3
Bathrooms: 1
carport: 1
Aircon in bedroom
it last sold for $30,000 in 2000
findmeahome reports it to be worth $205k to $215k
Refind gives this info:
Jan 2011 listed for $199,000
May 2008 listed for $219,000
Apr 2008 listed for $219,000
A similar unit will rent for 260$/week in that area.
Body corp is 1200$/year
could not get the strate fees... where do I get this ?
a similar unit sold for 180K in Feb 2011.
The average rental yeield for this area for units with price of $210,000 with a weekly rent of $255 is 6.31%
I rate this unit at 170K and wont go over 180K...
Is my aproach correct ? Can I further refine it ?
many thanx.