Hi
This is my first post.
First of all, thank you for the various contribution, it helps a lot!
In a matter of introduction: Leaving in Perth, looking to buy my first IP soon (3-6 months). Having read few posts since a couple of days. I think I have worked out my goals ( being an income replacement in a 10-15years time frame) and a plan to achieve it (fully own 5/6 IPs generating $70/80k net return).
I am planning to buy close to where i know, ie Perth CBD. I have found only few matches to my criteria ($350k, 5/6% ROI) but not so surprised and keep looking, and expending my area.
One thing came out from my search is the few serviced appartment available (Mantra or Medina) that are below $250k and 9/10% return. My first question is :what is the catch?
I have search the forum but only found old post ( 2006) on the subject.
Thank you for your answer.
This is my first post.
First of all, thank you for the various contribution, it helps a lot!
In a matter of introduction: Leaving in Perth, looking to buy my first IP soon (3-6 months). Having read few posts since a couple of days. I think I have worked out my goals ( being an income replacement in a 10-15years time frame) and a plan to achieve it (fully own 5/6 IPs generating $70/80k net return).
I am planning to buy close to where i know, ie Perth CBD. I have found only few matches to my criteria ($350k, 5/6% ROI) but not so surprised and keep looking, and expending my area.
One thing came out from my search is the few serviced appartment available (Mantra or Medina) that are below $250k and 9/10% return. My first question is :what is the catch?
I have search the forum but only found old post ( 2006) on the subject.
Thank you for your answer.