one the we just did

Hi Guys,

Some of you may be interested in this type of thing;

http://www.cashflowproperties.co.nz/cashflowproperties_invercargill.htm

Some basics - 154k off an asking of 179k - rental return using actual comparables (there is a link - click through) 300 to 360 per week - options re power to control outgoings currently running at $6 per tenant per week.

Rates are about 1220 per year - no water rates - enviroment leavy $70 per year. Vacancy? Depends on management and approach - lots of ideas but up to the individual to make a go of it. Building depreciation at 3% per annum plus it is furnished so significant chattles depreciation as well - this does not help oz investors much - unless they have local income to write off against - these things do actually wear out - get lost and stolen so they will have to be replaced. Cheers guys.
 
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I note the comparison property is located a couple of blocks closer to the Southern Institute of Technology, supermarket and CBD (only about 100 metres away from them in fact) which does make a difference in a typical winter southerly. :)
 
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