It seems it would be difficult to find a unit that would bring in enough rent minus all the strata and council fees to make it positive at least in the price range I'm looking at.
For example let's say I buy a unit for $175,000 and the weekly rent is $200 but strata & council costs combined are $50 per week then it would only be bringing in $150 per week. At first glance a property for that price with the rent looks good but until you realize the costs of those fees. Then you have other costs including paying the agent to let the property so it would be even less than $150 per week.
So I guess for a property at $175,000 I would need to have rental income of about $250 per week to make it positive?
For example let's say I buy a unit for $175,000 and the weekly rent is $200 but strata & council costs combined are $50 per week then it would only be bringing in $150 per week. At first glance a property for that price with the rent looks good but until you realize the costs of those fees. Then you have other costs including paying the agent to let the property so it would be even less than $150 per week.
So I guess for a property at $175,000 I would need to have rental income of about $250 per week to make it positive?