Hi, as a longtime poster, we have a potential sale:
Block of 4 x 2 bedroom units in Dubbo on one title:
Flat 1 – renovated 2009 – new kitchen, floor coverings, paint – currently rented for $140.00 per week.
Flat 2 - $100.00 per week
Flat 3 - $95.00 per week
Flat 4 - $95.00 per week
Seems from the survey information to have been constructed in the mid 70’s – say 1973 or slightly after. Concrete besser block type construction, tile roof.
The renovation of Flat 1 cost about $12,000 so the increased rent would give a payoff in 6 years.
Some carports could also be erected (STCA) in the driveway giving other potential for rent increases.
Why did we buy – multiple streams of income, good return on investment.
Why are we selling – basically to wind up a partnership. I own this and other investments in partnership with a sibling. We are on good terms, but due to changes in our family circumstances eg marriage, children we want to simplify our structure and reduce the possible involvement of third parties if something happens to one of us. We are not desperate or dateless sellers – nor are we divorced, dead, debt ridden or any of the other D’s.
Why is this a good investment to consider? Good return on investment (one rate bill, no strata fees), multiple income streams reducing risk of financial stress from vacancies. Potential upside in both rents and value from renovation of remaining flats.
A google maps link to the unit block in Dubbo I have just listed for sale with Anthony Chapman of Western Plains Real Estate
http://maps.google.com.au/maps?rlz=...code_result&ct=title&resnum=1&ved=0CBUQ8gEwAA
Block of 4 x 2 bedroom units in Dubbo on one title:
Flat 1 – renovated 2009 – new kitchen, floor coverings, paint – currently rented for $140.00 per week.
Flat 2 - $100.00 per week
Flat 3 - $95.00 per week
Flat 4 - $95.00 per week
Seems from the survey information to have been constructed in the mid 70’s – say 1973 or slightly after. Concrete besser block type construction, tile roof.
The renovation of Flat 1 cost about $12,000 so the increased rent would give a payoff in 6 years.
Some carports could also be erected (STCA) in the driveway giving other potential for rent increases.
Why did we buy – multiple streams of income, good return on investment.
Why are we selling – basically to wind up a partnership. I own this and other investments in partnership with a sibling. We are on good terms, but due to changes in our family circumstances eg marriage, children we want to simplify our structure and reduce the possible involvement of third parties if something happens to one of us. We are not desperate or dateless sellers – nor are we divorced, dead, debt ridden or any of the other D’s.
Why is this a good investment to consider? Good return on investment (one rate bill, no strata fees), multiple income streams reducing risk of financial stress from vacancies. Potential upside in both rents and value from renovation of remaining flats.
A google maps link to the unit block in Dubbo I have just listed for sale with Anthony Chapman of Western Plains Real Estate
http://maps.google.com.au/maps?rlz=...code_result&ct=title&resnum=1&ved=0CBUQ8gEwAA
