Yes it does exist!
I have had a lot of people ask me lately where can they buy positive cashflow properties in the Melbourne Market. Well we have jus bought four in the Geelong area and are prepared to pass two of them on with no money down (we're keeping the other two).
How does it work?
Well we are able to pass either or both of these two properties on to if you qualify for a bank loan of 90% of the property value. As a registered MIAA member I can also assist you with this. Our company Too Easy Homes P/L will carry the deposit and borrowing costs as a second loan which means it costs you nothing to get into your own positive cashflow property.
What are the figures?
Our property in Corio which is in good condition is available for $110K, the bank lends you $99K at say 6% and we lend you the balance of your funding requirements approx $20K. The expected rent is $145 to $155 per week! (we would probably get $170 per week but offer our tenants several incentives to pay more - this is really up to you)
Our other property in Norlane has just been fully renovated and is available for $130K, $117K from the bank and again we lend you the balance of approx $20K. This as an as new property and the expected rent is $160+ per week, this property has the advantage of depreciation on the extensive renovations. (again we would rent this for $180+ but how you structure this is up to you)
This is the first time I have explained on a forum how we get positive cashflow properties and as detailed above we also try to help you get started as this is often the hardest part (the saying that after five it gets easy is true).
We've been fortunate that we have been able to assist many people in heading down the right path and even offering properties when we have surplus as indicated above.
There is a chance that this post may be a little late as we do advertise on Thursdays and these properties should be gone by Sunday night. If you're really keen let me know, if they are gone we can always find another.
Hope this helps you all realise that there are good positive properties available out there you just need to look. If you need help that's available also.
Fab...
I have had a lot of people ask me lately where can they buy positive cashflow properties in the Melbourne Market. Well we have jus bought four in the Geelong area and are prepared to pass two of them on with no money down (we're keeping the other two).
How does it work?
Well we are able to pass either or both of these two properties on to if you qualify for a bank loan of 90% of the property value. As a registered MIAA member I can also assist you with this. Our company Too Easy Homes P/L will carry the deposit and borrowing costs as a second loan which means it costs you nothing to get into your own positive cashflow property.
What are the figures?
Our property in Corio which is in good condition is available for $110K, the bank lends you $99K at say 6% and we lend you the balance of your funding requirements approx $20K. The expected rent is $145 to $155 per week! (we would probably get $170 per week but offer our tenants several incentives to pay more - this is really up to you)
Our other property in Norlane has just been fully renovated and is available for $130K, $117K from the bank and again we lend you the balance of approx $20K. This as an as new property and the expected rent is $160+ per week, this property has the advantage of depreciation on the extensive renovations. (again we would rent this for $180+ but how you structure this is up to you)
This is the first time I have explained on a forum how we get positive cashflow properties and as detailed above we also try to help you get started as this is often the hardest part (the saying that after five it gets easy is true).
We've been fortunate that we have been able to assist many people in heading down the right path and even offering properties when we have surplus as indicated above.
There is a chance that this post may be a little late as we do advertise on Thursdays and these properties should be gone by Sunday night. If you're really keen let me know, if they are gone we can always find another.
Hope this helps you all realise that there are good positive properties available out there you just need to look. If you need help that's available also.
Fab...
