Positive cashflow house

[8fold]

Although it is on the water...

http://www.boatsonline.com.au/boats-for-sale/used/house-boats.php?de=63380

Looks like its rented for $3300 per week in normal season

http://www.sundownerhouseboats.com.au/fleet/pdf/PriceListPDF.pdf

Anyone had any experience with these? Running costs etc? I have not looked into it too much but crikey....

 

[65fbk]

I know someone who had one built. He depreciated the whole ~$600k over 3 years IIRC
Hasn't been a great income producer in the last couple of years though.

The depreciation appears to be the only attractive part of the deal. Income is not great and growth is zippo.

That being said, a used boat at $200k like your example may be worth doing the sums on. I see huge risk though. Expensive repairs and often rented to rowdy and drunk tenants.

 

[Peter_Tersteeg]

Just about anything that's producing income can be positive cashflow. What sort of finance can you get on this?

Personally a houseboat doen't really appeal to me. This is more to my taste.

I can't justify lending money for it though. I'll just have to pay cash.

 

[8fold]

I see huge risk though. Expensive repairs and often rented to rowdy and drunk tenants.

Sounds like a Gold Coast unit

Thanks for the thought guys I am pretty sure you dont want to shine one of those CSI blacklights around this one . I was originally looking at a holiday unit at the coast, but then came across this idea (the 14 year old son is a mad keen fisherman). Was thinking the Hinchinbrook channel though.

Hey PT I used to race a 32 footer when I lived in Cairns with a guy who sailed/delivered Beneteaus to their buyers. He absolutley loved them.