Bought in Toowoomba for 315k. Had DA approval so subdivide, reconfigure lot and build on back. Had a house at the front, which I could rent whilst developing the back. Was the cheapest house and land in Rangeville (for the size of land).
I mainly bought for positive cashflow as well as massive capital once the development is complete. Don't know if I will be holding or selling.
Should be cashflow positive - Current house $270 pw, 2x units should rent for $350 pw. Providing $970 pw which will make it roughly $300 per month cashflow positive.
Capital - Bought for 315k, development should cost 300k (hopefully), once finished duplex development should be worth $650 - 695k, current house 230k. Providing 265 - 310k capital before tax.
Latest one settles next week - 2br unit; Rockhampton $133k, rents $240pw.
I have another in complex last valued at $180k getting $280pw. Depreciation approx $6k pa.
Should achieve similar rent/depreciation after a max $5k spend.
Purchased for almost instant equity and CF+.
How about yourself Cole, what was your last investment purchase?