Hi All,
Just wanted to thank the forum for the advice and discussions over the last few months which has helped us get our first IP.
It is a 3BR BV in Morayfield (north of Brisbane). It settled on Monday, and is being rented out already. For those interested in the numbers, we bought it for $182K, and with the current rent ($210/wk) it should be about neutral or slightly CF+ once depreciation is taken into account. There is still strong demand for properties and low vacancy rates in the area, so hopefully we may get a bit more growth in the current cycle. If not I'm not too woried, as I'm treating this as a relatively cheap learning experience.
Now I'm on the lookout for #2....
John.
Just wanted to thank the forum for the advice and discussions over the last few months which has helped us get our first IP.
It is a 3BR BV in Morayfield (north of Brisbane). It settled on Monday, and is being rented out already. For those interested in the numbers, we bought it for $182K, and with the current rent ($210/wk) it should be about neutral or slightly CF+ once depreciation is taken into account. There is still strong demand for properties and low vacancy rates in the area, so hopefully we may get a bit more growth in the current cycle. If not I'm not too woried, as I'm treating this as a relatively cheap learning experience.
Now I'm on the lookout for #2....
John.