Positively geared property in Perth?

[jsjtech]

Perth Solicitor recommendation

Hi Kent and others,

I have been offered a 1 br apartment (around 10 years old) in Perth for $340k that is currently leased at $530 pw. Annual Strata fee is $2700 and water bill is $900

I am doing my research but in the interim wanted to ask local Perth members if the numbers sounds right.

also can someone recommend a local conveyencor/solicitor.

Thanks in advance.

 

[gooram]

Having a family it just feels more relaxed and you can have a great lifestyle without a huge mortgage to go with it. This also reduces stress. I think it is a case of where you are at and what you are looking for in life. I would rather have a BBQ with neighbours and friends on a Saturday night than go to a restaurant or a pub........so why do I need to live closer to the city I have everything I need where I am.

So it IS about the size of your mortgage

The leafy avenues of Perths inner city established suburbs are very relaxing, and some of them have BBQs as well, which means you can go out, or have your neighbours over... perfect!

 

[Ausprop]

So it IS about the size of your mortgage

The leafy avenues of Perths inner city established suburbs are very relaxing, and some of them have BBQs as well, which means you can go out, or have your neighbours over... perfect!

since the GFC flattened the market pricing it doesn't cost as much to move in, hence IMO it is better value and will amplify equity growth as the boom progresses

 

[Freckles]

Kent, Are you talking about renting out the granny flat to a third party that it is not a relative? which council allows you this in WA?
Cheers

 

[Ausprop]

Kent, Are you talking about renting out the granny flat to a third party that it is not a relative? which council allows you this in WA?
Cheers

fremantle and port hedland

 

[HD_ACE]

fremantle and port hedland

And bayswater

Cheers

 

[UrbanPlanner]

And Vincent. The R-Codes are also being reviewed to remove this family relation clause entirely so it'll be allowed across the board soon

 

[INXS]

Just building a property in Eglington (coastal side of Marmion Ave) next to Alkimos. Total cost is around $360k. Rent appraisal is $430-450 a week. With 5% deposit it will be positively geared after taking in to account tax benefits.
The property will be 5 minutes drive from Butler Train Station (38 minute train trip to Perth city). I will be managing it myself.

Just updating the figures as it's been 6 months since my post. House will be finished in March 2013. Rent appraisal from real estate agent is now $480-$520 a week as similar properties across marmion (inland) are already being rented out for $480 a week. Not only that but market appraisal for finished house is $430,000.00. Not that I will ever sell.

 

[herewego]

Thanks for update INXS. Always to good to be kept in the loop and to see someone's projects come out even better than originally hoped for.

Well done!

 

[westminster]

Good to hear that the sums are even better now. How is construction going?

 

[INXS]

Construction should be completed by March 2013. Roof going on this week.

 

[Seanh]

It's not difficult to find positively-geared properties in Perth metro but they are usually strata-titled.

I find it hard to recommend a particular suburb for positive cash flow properties on green title lots. The few cases I am aware of are all results of good bargain.
Christmas period is generally quite for Perth property market. You may find some good bargains then.