Good advice thanks.*
I'd be happy to walk away with minimum $35,000 profit after all the costs & that should be achievable. I should make a clear $35-50 k profit.
Yeah for sure! *I'd weigh up everything including CG prospects of the new ip I reinvest in as well as cash-flow of the new ip to hold.*
This small ip as it gets older & older will continue to be a drain on my cash-flow *& will prevent me from moving ahead because of the amount it's still NG. My strategy & I have decided on one now is to buy a newer property 1-3 year old for depreciation, less repairs.
In answer to the other questions yep it was cross colled with my ppor & in a unit complex of just under 20.*
My accountant did sums on a loan (including property cost, stamps, other costs etc) of $350,000 for a year 2012 villa. *It would be NG by $22 per week after tax Ian. This was for a $330,000 property renting for $330 per week.*Somewhere like Armadale would achieve this. I'd like to try to get a bit closer to cbd though if I can.
If I bought a near new villa in cannington it would cost around
$45 per week after tax to hold. Near new villas in Cannington are around the $400 k mark
What do people think of buying a villa in Armadale. Too far away?? It certainly would be affordable. It's a major hub & I hear money is being pumped into the area so there could be some good *CG in the future? *What do you think?*
I'd be happy to walk away with minimum $35,000 profit after all the costs & that should be achievable. I should make a clear $35-50 k profit.
Yeah for sure! *I'd weigh up everything including CG prospects of the new ip I reinvest in as well as cash-flow of the new ip to hold.*
This small ip as it gets older & older will continue to be a drain on my cash-flow *& will prevent me from moving ahead because of the amount it's still NG. My strategy & I have decided on one now is to buy a newer property 1-3 year old for depreciation, less repairs.
In answer to the other questions yep it was cross colled with my ppor & in a unit complex of just under 20.*
My accountant did sums on a loan (including property cost, stamps, other costs etc) of $350,000 for a year 2012 villa. *It would be NG by $22 per week after tax Ian. This was for a $330,000 property renting for $330 per week.*Somewhere like Armadale would achieve this. I'd like to try to get a bit closer to cbd though if I can.
If I bought a near new villa in cannington it would cost around
$45 per week after tax to hold. Near new villas in Cannington are around the $400 k mark
What do people think of buying a villa in Armadale. Too far away?? It certainly would be affordable. It's a major hub & I hear money is being pumped into the area so there could be some good *CG in the future? *What do you think?*