Newest purchase for Nathan.

Ok, been a while since I shown something I bought :)

(I hav been posting most of my buy/holds on my own site lately)

I have purchased this unit for $114,000.

It is 2 bed and built in 1989 (depreciation aswell)

Its rented @ $180pw currently. It is in an undisclosed location, and these were selling for $150k 12 months ago. when market stabalises in this part of australia, it should rent for $220pw+ Nothing too exciting but I liked it.

Pics attached.
 

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Its a pool, I havent seen it so dont know exactly, but I uderstand its got a large pool :) maybe a spa and a pool. Il visit it in a cpl of months.

Funny I wasnt happy with return I wanted more but it will do i guess for now.
 
looks like a motel that was strata-ed. :)

suppose it is alright if you like being in a cul-de-sac and close to an IGA, Maccas, golf, olympic pool, drive in cinema, tennis, state primary and high schools. ;)

if you don't mind revealing Nathan, what's your BC?
 
Not sure of the motel aspect....

Think we may be on same wavelength here WW :)

Strata is hefty, but so are 80% of others in the district. Its around $500pw from memory...
 
$500pa for the BC?....suppose that's not too bad for a pool, grass, electric gate, and some palm trees. Are these all long term rentals?

How'd you finance this sucker?

Latest unemployment stats look pretty good, which means the RBA will jack rates sooner......which may increase rental demand..... :)
 
Yep + the location as you would know has had some signifigant changes to infrastructure of late which is positive starting anytime after june :)

Do you own in there?

In 2007 the purchase prices on RPDATA ranged from $140-180k.

There was no drama with Val, bank or lend. Went mainstream lender on this.

Tenancy, is long term, market soft for rentals at present, but should be all good. Feel i has legs, I might aquire a few there with delayed settlement for 12-24 months if possible.

$500pq sorry not PW for BC, Some would feel that feels jus as bad :)
 
Nice one. Your website is looking much better too! Looking at some of your case studies, you sure do think outside the box when it comes to investing.
 
Do you own in there?

Tenancy, is long term, market soft for rentals at present, but should be all good. Feel i has legs, I might aquire a few there with delayed settlement for 12-24 months if possible.

don't own there. but have researched...

was going to suggest if there's still a bit of gloom around re prices, you make offers to the other owners, and control the whole complex.

should be a nice piece of land to hold long term, and would be nice to control the BC.
 
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