But I thought we weren't talking about my properties but now you want examples?
Show me one you can buy today
Not one you bought 12 months ago
What should I do with only $100k in Bank..
- Thread starter positivexx
- Start date
Show me one you can buy today
Not one you bought 12 months ago
congratulations - but we're not talking about your properties
$10k was an example...an outdoor deck/patio area deemed unsafe after tenants had moved in
show me a genuine positively geared property in Logan or wherever you buy today at 90% lvr ....and also without the need to throw any money at it
Show me one you can buy today
Not one you bought 12 months ago
http://www.realestate.com.au/property-house-sa-elizabeth+park-118381115
Rent $240-250wk.
http://www.realestate.com.au/property-duplex+semi+detached-sa-elizabeth+park-117480951
$210-220wk
http://www.realestate.com.au/property-house-sa-elizabeth+park-118230403
$240-250wk
http://www.realestate.com.au/property-house-sa-elizabeth+north-115785235
240-250wk
What do I win?
Show me one you can buy today
Not one you bought 12 months ago
If there was something good on the market today my friends or I would be buying it, not blathering about it in public.
No idea where you got this 12 months ago idea from?
This one is 1 month ago
147k buy + 3k worth of work (hot water system fell thru ceiling)
Calc interest at whatever lvr you like, im getting 4.7 odd
250/w rent , found tenant a couple days after settlement
1k rates
550 insurance
7.7 PM
water, depreciation, yadda
subdividable into 2
Or this one 3 months ago
250k buy
spent nothing on it
370/w rent (inherited tenants from previous owner so is under market, will increase to 400/w when I can)
Interest calc however you want
2k rates
750 insurance
7.7 PM
water, depreciation, yadda yadda
subdividable into 3
$240 - $250 for that without any reno on a main road? good luck
this has been on the market for sometime at $230pw on a quiet st,, freshly painted, and garage + carport.... http://www.realestate.com.au/property-house-sa-elizabeth+park-408488927 for $230...so lets assume $220pw for your example...
$159,950 purchase price
$149,955 + $3000 LMI 90% loan @ 4.9% = $7494 = $144.31 pw
$350 pw landlord insurace = $350 = $6.73pw
$800 building insurance = $15.38 pw
$220 x 8% property management (inc. GST, sundry) = $17.60 pw
$2000 council rates = $38.46 pw
pw outgoing = $222.48 = $-2.48
and this is not even considering;
standard 15% of rent to go towards general maintenance
2 weeks vacancy PA
additional PM fees including tenancy fees
Sounds like a good plan to start with just think a bit bigger,and once you consider the following sobering statistic not many people have that amount of raw cash
sitting in a Bank fixed term earning below 3.80%% so with that savings history you will have a good start,just read as much as you can in this site,and ask questions on anything you don't understand everything you need from the "Legal" side down to simple preventive maintenance is within this site..good luck..imho..btw welcome to this site you are in the right place..
These are just numbers you've pulled out of your head...can we get some real examples?? and are you factoring all costs??
I've held 13 properties in the logan area for the past 4 years most around 8% gross yield and once ALL expenses are accounted for, they are barely neutral and I have cashflow spreadsheets to prove it if you PM me
This was back in the heyday when you can pick up decent houses for $190 - $230k
So now you're accusing me of posting fake properties? What reason would i possibly want to do this?
So now you're accusing me of posting fake properties? What reason would i possibly want to do this?
Dunno...so you can feel good about yourself?
Considering median rent for Elizabeth Park is $255wk, I'm actually being quite conservative. Most lease agreements I'm seeing for clients right now are 250-270wk.
- $240wk is completely reasonable.
- We're not talking about Brisbane, rates here are ~$1100-1200 p.a
- Building + LL insurance = $750/total
- your repayment figure isn't correct. Even at 92% LVR the repayment is $138wk. Meaning even with your figures the property is CF+
Feel free to look at all the non-main road ones I've listed too.
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You are more whingey and whiney then most married women I know!!
-$2.48, OMG, stop the presss, better make my double espresso a single shot
im surprised how you can even have 13 properties in Logan and actually sleep at night
bear in mind it doesn't include vacancies, general maintenance, extra fees from PM's/banks, initial "fix up" period, professional tenants that insurance policies don't cover etc etc...
easily adds to $1 - 2k per year...times that by a couple of properties and it becomes significant
some of the 8% logan properties are negatively geared because of this...depreciation helps but largely a huge tax refund at the end of the year balances things out
luckily i have a some heavily +cashflow properties in Sydney that help with the low performers, otherwise i really would struggle to sleep at night!
good call!kudos
?
So it's ok for you to say it, right?
thast the reality of life
older house = more maintennace
lower socio areas = more chances of arrears/damage/
more houses = more risk
some of my properties in worse condition have no maintenance issues, some better houses have maintenance probems one after the other
congratulations - but we're not talking about your properties
$10k was an example...an outdoor deck/patio area deemed unsafe after tenants had moved in
show me a genuine positively geared property in Logan or wherever you buy today at 90% lvr ....and also without the need to throw any money at it
This should of been pulled up in the b and p, so you could of walked away or renegotiated
