Any comments on this please would be appreciated.
House $135000, deposit $20,000, rent $250 per week costs and outlays approx.$7000 full price $117,000.
[
]comdom – how far off what?
Sounds like a decent deal to me – although you need to factor in PM fees, rates, water etc.
Rental yield is 9.6% (full occupancy)
IO Payment at 7% on $115K = $155 per week.
I’d definitely be looking further.
Cheers
MelThanks melbear for your comment thats exactly what i needed to find out i it came close to the 11 sec solution.
Rates $1000, PM 8%,insurance $350. This 3 bedroom house is in imaculate condition new ,tiles, carpets bathroom,kitchen,paint etc. It has a 12 month lease on it, with deposit it makes the deal look better than whithout it.Have pictures sent this afternoon i might not even hasve to inspect it by the looks of it.But their might be better deals out their i should go for a drive instead of finding these on the internet.
Dom[]Good luck Dom
Redwing
Dom, it does sound good. It doesn’t meet the 11 sec (only just though) but if it is new, you’ve got depreciation to take into account, so can offset some of your other income, and result in a tax rebate.
It does look good[
]Cheers
Mel
]
]You must be logged in to reply to this topic. If you don't have an account, you can register here.
