Ok, havent been posting as much lately been bogged down with different projects... just thought id share something i just came back from....
we went to an auction this evening to purchase some properties for clients.
we came across this property, which we ended up securing....
The numbers are as follows....
Paid, $367,000
in/out costs $35k
reno costs $60k, i say this as an over conservative figure.
=$482,000
sale price = $650,000
= $170,000 profit/or $40,000pa rent or 12% return being 15kms from sydney and on a torrens title block.
pretty cool huh?
I will post renos once done and our resale prices.
Also todays deals
2 x properties in 50,000+ towns paid
$75k rent for $170-220pw, depending if reno done or not, if reno'd will sell for 200k
$95k rent for $180-200pw.
Sorry for being enthusiastic about this however i think these numbers are pretty cool! If i have hit any nerves please let me know and il stop posting these updates.
Nath.
we went to an auction this evening to purchase some properties for clients.
we came across this property, which we ended up securing....
The numbers are as follows....
Paid, $367,000
in/out costs $35k
reno costs $60k, i say this as an over conservative figure.
=$482,000
sale price = $650,000
= $170,000 profit/or $40,000pa rent or 12% return being 15kms from sydney and on a torrens title block.
pretty cool huh?
I will post renos once done and our resale prices.
Also todays deals
2 x properties in 50,000+ towns paid
$75k rent for $170-220pw, depending if reno done or not, if reno'd will sell for 200k
$95k rent for $180-200pw.
Sorry for being enthusiastic about this however i think these numbers are pretty cool! If i have hit any nerves please let me know and il stop posting these updates.
Nath.