Positive geared unit

[WebBoard]

From: David Robinson


I am looking at a 3 bedroom unit in suburbs of Perth at the moment and was wanting to get some feedback from the members here.

Purchase price = 99500
Rent = 145 per week
Depreciation allowance = 1500 per year

It has just been painted and has been on the market about a month.

Regards

David

 

[Robert]

Reply: 1
From: Robert Forward


Hi David.

Not meaning to sound mean by any means but, what sort of feed back do you want????

Do you want the forum to say yes it's a good deal? Do you want us to tell you what sort of returns your getting, is it located in a good area... etc etc etc????

Sorry mate but we need to know what you are wanting for us to give you feed back.

Cheers
Robert

 

[Rixter]

Reply: 1.1
From: Rixter ®


David,

I too, am in Perth and already have a few Ip's here....maybe I can offer you some advice but I will need to know a few more details from you in order to run the figures and help .

How did you find it? What suburb is it in? Whats the vendors reason for Sale? Are they Motivated? How old is it? How many in complex and are the others all rentals? Is it owner occupied or has it been a rental? How do you know the weekly rental, is it currently leased or is that what the agent has told you it will rent for? Where did you get the depreciation figure from? Do you have a Q/S report? Does it have Strata Management fees if so what are they? Council Rates? Water Rates? Will you be managing the property yourself of will you be using a Property Manager? If so whats their Fees Like?? What condition is it in?

Happy Investing,
Rixter

 

[WebBoard]

Reply: 1.1.1
From: David Robinson


Hi Rixter,

The unit is in a complex of 18, is empty at the moment but has had a strong rental history (local managing agents have advised that there is a waiting list to rent these units), is located in Forrestfield, is about 9 years old, has always been rented as are most of the others, the strata fees are 150/q (same for last 7 years), water rates 550/y, council rates 550/y.

I would like to manage the property myself as I have done this before.

Regards

David

 

[WebBoard]

Reply: 1.1.1.1
From: Scott Marshall


As long as the managing agent is not the SELLING agent, and as long as the 'new' units a few streets away are not taking the cream.