Thoughts on hythe street mount druitt?
- Thread starter mitchellp
- Start date
Yea I work out all expenses on a interest only loan and will be positive cash flow $15 a week!
Thanks for your input
How are you calculating the cash-flow?
Regards
Shahin
Regards
Shahin
after all expences? and loan repayments
Yea I work out all expenses on a interest only loan and will be positive cash flow $15 a week!
Thanks for your input
Hmmm... are you taking all costs into account or just the loan interest?
Strata might be significant, be sure to include that in the calculations.
Hi Mitchell
Don't think you could go wrong with the villa, if I remember right, 3 years ago while 2 bedders in the area were being sold at $175k, these villas were around the early 200's.
My son bought a 2 bed unit at $175k and currently gets $310 in rent ...so gives him about $10 pw.
Don't think you could go wrong with the villa, if I remember right, 3 years ago while 2 bedders in the area were being sold at $175k, these villas were around the early 200's.
My son bought a 2 bed unit at $175k and currently gets $310 in rent ...so gives him about $10 pw.
Ok so when you say all expenses does it include the following:
1. Water
2. Strata
3. Ongoing Property Management Fees
4. Upfront Property Management Fees
5. Landlord insurance
6. Vacancy Period
7. LMI (if applicable)
8. Council Rates
9. Maintenance (depends on the state of the property)
Not to take you away from your original question but it is important to understand the true net operating costs.
Regards
Shahin
1. Water
2. Strata
3. Ongoing Property Management Fees
4. Upfront Property Management Fees
5. Landlord insurance
6. Vacancy Period
7. LMI (if applicable)
8. Council Rates
9. Maintenance (depends on the state of the property)
Not to take you away from your original question but it is important to understand the true net operating costs.
Regards
Shahin
Thanks yes strata is being considered... It's only 1500 a year becaus it's a villa if it was a apartment it would be different story.
Seems good I mean for the price you can get a house in willmot, bidwill ect but they are shitboxes
370pw seems a bit high. Check on how long the tenant has been there for, there is an agent in this area who I have picked up on with a few high rental listings where on further digging, there are new "tenants" in at sale time on a 3 month lease who are paying well above market rent, are never there during inspections and the properties seem too immaculate for the area. I can guarantee that as soon as you go unconditional these mystery tenants will give notice and you will be re-tenanting at a lower market rate.
I would say $340pw
ok, I know this property. It's listed since Oct 12.
From what i know on Dec 12, its leased at $360/wks on periodic lease, the lease agreement already expired on Dec 11. $370/wks now?? may be it's under new lease?
It is tenanted by, selling by and own by Indonesian.
Agreed with other, the current rent is quite high based on that. I would think $320 to $340 is fair considering original condition of bathroom and kitchen.
My final offer got rejected before Christmas. Not about the property, its just the return yield is not suit to my portfolio.
Ta
From what i know on Dec 12, its leased at $360/wks on periodic lease, the lease agreement already expired on Dec 11. $370/wks now?? may be it's under new lease?
It is tenanted by, selling by and own by Indonesian.
Agreed with other, the current rent is quite high based on that. I would think $320 to $340 is fair considering original condition of bathroom and kitchen.
My final offer got rejected before Christmas. Not about the property, its just the return yield is not suit to my portfolio.
Ta
Think you got the wrong property. This one has just been listed.
I'd investigate security issues with ground-level style villas (versus more secure 2nd and 3rd level apartment building units). Make sure, when doing your DD, you investigate the strata fund's insurance premiums for vandalism damage to the exterior of the complex. Some strata insurance policies (but not all) may not cover this kind of damage (offering instead only to cover fire/weather etc).
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thanks for your imput guys, i have spoken to a number of people and decided yesturday not to go through with it, called the agent and said not to worry but apparently someone had just put a deposit on it 20k more than my nego price what are the chances because it was on the market for over 100 days.
thanks again for the imput though
