Who has bought a GENUINE cashflow+ IP in the past 12 months under $300,000?

[bez23]

Another metro SA property.

Purchase Price: $157,500
Loan Amount (always calc'd at 105%): $165,375

Income:
Rent: $13,780

Outgoings:
Interest: $8,086 p.a
Rates: $1,000
Property Management (7.7%): $1,060
Insurance: $700

Cash Flow Positive: $2,934 from year 1.

Also has depreciation + large renovation potential.

I'll be spending 10k renovating this property, will contract all the work. Re-val will be circa $220,000.

I assume it's "Dimboola", the property needs quite a bit of work, can you tell me how you can spend just 10k to bring value up to 220k?

http://www.realestate.com.au/property-house-sa-craigmore-115573407

This was sold for 220 but much nicer house.

Also is your PM fees 7.7 flat or do they charge letting fee (2 weeks) and water bills?

Cheers,
bez

 

[Alex P Keaton]

This ones not bad for cash flow! ..... Under contract now

Offers above $260 k and is currently renting for $335 per week. Kitchen is modern.

70 SQM 1 bed Hodgson street tuart hill on the corner of wannerroo Road

A lot better cashflow than villas in the same area!! $400 k villas are only able to attract $350 per week in rent. I did however see a noranda villa asking $329 k that could be rented for $350 per week but that would still be pretty NG for my liking.

 

[D.T.]

This ones not bad for cash flow! ..... Under contract now

Offers above $260 k and is currently renting for $335 per week. Kitchen is modern.

70 SQM 1 bed Hodgson street tuart hill on the corner of wannerroo Road

A lot better cashflow than villas in the same area!! $400 k villas are only able to attract $350 per week in rent. I did however see a noranda villa asking $329 k that could be rented for $350 per week but that would still be pretty NG for my liking.

10% of the gross rent says goodbye in the form of strata fees.
And its on a main arterial road.

 

[spludgey]

This ones not bad for cash flow! ..... Under contract now

Offers above $260 k and is currently renting for $335 per week. Kitchen is modern.

If it sold for $260k, it would give it a yield of 6.7%, certainly not enough to make it cashflow positive.

 

[D.T.]

If it sold for $260k, it would give it a yield of 6.7%, certainly not enough to make it cashflow positive.

Yep, but i think her point is that 6.7 is probably the best cashflow in perth and she's trying to be less "out of pocket". Personally I'd be looking interstate

 

[neK]

City/town where you bought (address is not needed for privacy reasons):
15km from Sydney CBD (Residential) - Purchased mid last year.

Purchase price + renovations: $1,010,000

Income: $1,350 per week.

Expenses
Interest rate: Just under 5%
Loan amount: $1,010,000 + Stamp Duty
Rates: $1,800
Insurance: Building only
Landlord insurance: Yes
Prop Management fees: 5%

CASHFLOW+ : Approx $14,000 pa after interest, ongoings, but before depreciation.

 

[skater]

Regional NSW. Population more than 10,000. Last year.

Purchase price $230k

Income $425pw Long term tenants. Just increased it another $20pw

Cashflow + after all expenses, including 105% finance, around $6kpa.

 

[Coconutwheels]

Regional NSW. Population more than 10,000. Last year.

Purchase price $230k

Income $425pw Long term tenants. Just increased it another $20pw

Cashflow + after all expenses, including 105% finance, around $6kpa.

Wow! that's impressive cash flow straight off the bat, well done.

Don't suppose you want to share location

 

[skater]

Wow! that's impressive cash flow straight off the bat, well done.

Don't suppose you want to share location

Hehe, not just at the moment as if I find some more, they're gonna be mine.

Mind you, this property was a yield play only. Not expecting much in the way of cap growth.

 

[Peter Parker]

Regional NSW. Population more than 10,000. Last year.

Purchase price $230k

Income $425pw Long term tenants. Just increased it another $20pw

Cashflow + after all expenses, including 105% finance, around $6kpa.

Great rent for regional if one dwelling.

Would it be a duplex pair or possibly set of 3 x 1br units?

 

[skater]

Great rent for regional if one dwelling.

Would it be a duplex pair or possibly set of 3 x 1br units?

It's a three pack and a shed.

 

[Pins]

City/town where you bought (address is not needed for privacy reasons):
15km from Sydney CBD (Residential) - Purchased mid last year.

Purchase price + renovations: $1,010,000

Income: $1,350 per week.

Expenses
Interest rate: Just under 5%
Loan amount: $1,010,000 + Stamp Duty
Rates: $1,800
Insurance: Building only
Landlord insurance: Yes
Prop Management fees: 5%

CASHFLOW+ : Approx $14,000 pa after interest, ongoings, but before depreciation.

Impressive!

Is this a commercial property? Are you expecting good capital growth?

 

[neK]

Impressive!

Is this a commercial property? Are you expecting good capital growth?

No its a residential property.

Capital growth happened much sooner than expected - due to Sydney going a bit crazy in the last 12 months. I had a valuation done on it in Jan this year. The bank valued it at $1.2m