Scheme Or Scam???
I Have Got A Brochure From "inesta Property Sale & Management" Advertising government Backed Residential Properties.
They Claim A Min 6% Rental Yeild Gross + Min 5 Year Lease With A 3x5 Option. No Fees Just Body Corporate.
Now I Must Be Missing The Whole Idea Of How To Calculate Yields Because I Cant See 6% With The Figures They Give, They Are
PURCHASE PRICE $210000
RENT
TYPICAL IP $220 GOVERNMENT BACKED $190
EXPENSES
TYPICAL IP $4398 (MADE UP OF MANAGEMENT FEE, LETTING FEE, VACANT PERIOD 3 WEEKS, BODY CORP, RATES & MAINTENANCE)
GOV BACKED $ 500 ( U ONLY PAY FOR THE BODY CORP AND THEY PAY THE REST INCLUDING REPAIRS IF IT GETS TRASHED)
TOTAL NET INCOME
TYPICAL IP = $7042
GOV BACKED IP = $9380
NOW DONT YOU WORK OUT THE YIELD OF THE NET FIGURE ie 210000 X 6% = 12600 ???
HAS ANYONE ELSE HEARD OF OR PURCHASED A GOVERNMENT BACKED PROPERTY???
(I WAS TOLD IT WAS NOT LIKE DEFENCE HOUSING)
I Have Got A Brochure From "inesta Property Sale & Management" Advertising government Backed Residential Properties.
They Claim A Min 6% Rental Yeild Gross + Min 5 Year Lease With A 3x5 Option. No Fees Just Body Corporate.
Now I Must Be Missing The Whole Idea Of How To Calculate Yields Because I Cant See 6% With The Figures They Give, They Are
PURCHASE PRICE $210000
RENT
TYPICAL IP $220 GOVERNMENT BACKED $190
EXPENSES
TYPICAL IP $4398 (MADE UP OF MANAGEMENT FEE, LETTING FEE, VACANT PERIOD 3 WEEKS, BODY CORP, RATES & MAINTENANCE)
GOV BACKED $ 500 ( U ONLY PAY FOR THE BODY CORP AND THEY PAY THE REST INCLUDING REPAIRS IF IT GETS TRASHED)
TOTAL NET INCOME
TYPICAL IP = $7042
GOV BACKED IP = $9380
NOW DONT YOU WORK OUT THE YIELD OF THE NET FIGURE ie 210000 X 6% = 12600 ???
HAS ANYONE ELSE HEARD OF OR PURCHASED A GOVERNMENT BACKED PROPERTY???
(I WAS TOLD IT WAS NOT LIKE DEFENCE HOUSING)
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