Hi folks,
This property is in Newcastle NSW.
I am negotiating to buy a 4 bedroom home kitted out for students with beds, desks lounge tv etc. Fortunately it is already fully tenanted. It listed at $249000 but negotiations are currently around the $190K mark - we are currently arguing over the fridge. Return is $300+ per week so it self funds.
I have seen another house in Shortland about 3km from the uni. It is on a cul de sac and backs onto a nature reserve. From the back of the yard there is lake views. That all sounds nice but having said that I wouldn't live in this outer suburb. The house is a big 6 bedder with two bathrooms and big lounge, big kitchen, dining, double garage and carport which should get 75 - 90 dollars per room per week - probably a mixture between the different sized rooms, but I think $480 pw is conservative if all rooms are let. The garage might even be rented separately as storage.
The six bedrooms are three downstairs and three upstairs with a bathroom on each level. As far as a 6 bedder student rental goes I think it is perfectly set up.
It is newly listed for $249K but I think a shrewd buyer will pay less. The vendor has already bought elsewhere and is ready to move. I don't figure there is a big demand for 6 bedroom houses normally and the market has certainly slowed here .
Will cost about $6K or so to furnish it with second hand stuff. Maybe $3-400 per bedroom plus a lounge, fridge, dining table, TV, microwave, washing machine etc I would probably buy cheapest new electrical goods for max discount, warranty and depreciation.
I will only be buying the first property at the moment so the other is available to a forum member if they want to email me for details.
The demand in Newcastle for student rooms is very very strong - call any property manager here to confirm this. I recommend Natalie at Dowling RE in Jesmond on 02 49501433. They have many many student rooms on their books and will advise what likely rents and occupancy rates are.
I will be fishing friday so don't expect a reply before Sat morning.
Cheers,
This property is in Newcastle NSW.
I am negotiating to buy a 4 bedroom home kitted out for students with beds, desks lounge tv etc. Fortunately it is already fully tenanted. It listed at $249000 but negotiations are currently around the $190K mark - we are currently arguing over the fridge. Return is $300+ per week so it self funds.
I have seen another house in Shortland about 3km from the uni. It is on a cul de sac and backs onto a nature reserve. From the back of the yard there is lake views. That all sounds nice but having said that I wouldn't live in this outer suburb. The house is a big 6 bedder with two bathrooms and big lounge, big kitchen, dining, double garage and carport which should get 75 - 90 dollars per room per week - probably a mixture between the different sized rooms, but I think $480 pw is conservative if all rooms are let. The garage might even be rented separately as storage.
The six bedrooms are three downstairs and three upstairs with a bathroom on each level. As far as a 6 bedder student rental goes I think it is perfectly set up.
It is newly listed for $249K but I think a shrewd buyer will pay less. The vendor has already bought elsewhere and is ready to move. I don't figure there is a big demand for 6 bedroom houses normally and the market has certainly slowed here .
Will cost about $6K or so to furnish it with second hand stuff. Maybe $3-400 per bedroom plus a lounge, fridge, dining table, TV, microwave, washing machine etc I would probably buy cheapest new electrical goods for max discount, warranty and depreciation.
I will only be buying the first property at the moment so the other is available to a forum member if they want to email me for details.
The demand in Newcastle for student rooms is very very strong - call any property manager here to confirm this. I recommend Natalie at Dowling RE in Jesmond on 02 49501433. They have many many student rooms on their books and will advise what likely rents and occupancy rates are.
I will be fishing friday so don't expect a reply before Sat morning.
Cheers,
