Forget it.
I get a lot of calls from people who recently attended Cherri Barbers renovation courses and other such places who get very angry when I mention to look elsewhere.
If you run the numbers, it doesn't stack up.
$370-400k for a 2 bedroom fibro house (bought them 1-2 years ago for $250k and under) + the cost of a granny flat $130k.
Rental return: $620/week = $32,240
= $32,240 / $530,000
= 6.08% ROI
Taking into account holding costs incl 2x insurances, 2x council rates bills.
You'll break even.
Interest rates are low, markets are hot, what are you looking forward to? Cooling market and rising interest rates. *warning* *warning* *warning*
I get a lot of calls from people who recently attended Cherri Barbers renovation courses and other such places who get very angry when I mention to look elsewhere.
If you run the numbers, it doesn't stack up.
$370-400k for a 2 bedroom fibro house (bought them 1-2 years ago for $250k and under) + the cost of a granny flat $130k.
Rental return: $620/week = $32,240
= $32,240 / $530,000
= 6.08% ROI
Taking into account holding costs incl 2x insurances, 2x council rates bills.
You'll break even.
Interest rates are low, markets are hot, what are you looking forward to? Cooling market and rising interest rates. *warning* *warning* *warning*