Hey guys, I was having a look on the www.onthehouse.com.au site that Aimjoy posted up the other day and its got me thinking..
I bought a 2 bedroom unit in Taree 12months ago for $125,000.. It has been tenanted for $155 p/w and ends up costing me about $3000 a year to hold after tax (P&I Loan)
Anyway www.onthehouse.com.au said it had sold in 2004 for $130,000
Im starting to think that it might be worth selling and putting my money else where..
Given the $7500 in purchasing costs + the $3000 if put in to hold it id have to sell the unit for $135,500 just to break even right ?
What do you guys think ?
I bought a 2 bedroom unit in Taree 12months ago for $125,000.. It has been tenanted for $155 p/w and ends up costing me about $3000 a year to hold after tax (P&I Loan)
Anyway www.onthehouse.com.au said it had sold in 2004 for $130,000
Im starting to think that it might be worth selling and putting my money else where..
Given the $7500 in purchasing costs + the $3000 if put in to hold it id have to sell the unit for $135,500 just to break even right ?
What do you guys think ?