As we all know, analysing the figures of a potential investment is the most important part of the process. I’m a newbie investor just starting out and was wanting some help with projected costs associated with a potential investment.
I was wondering what appropriate figures are used when calculating: –
Vacancy Loss (%)
Insurance
Maintenance
Rates
Taxes
Current stamp duty rate?And if anyone could give me a rough estimate of what conveyancing/legal will cost upon closure that would be a help too.
Check out http://www.jaffasoft.com and click on the positive cashflow calc, it has the defaults as standard.
Vacancy Loss (%) – Usually 4 weeks
Insurance – Around $350, but can be as high as $450
Maintenance – Usually 5%
Rates – Between $500 to $1,500 for residential
Taxes – Depends, are you using a trust?, are you neg. gearing?, etc
Current stamp duty rate? – Depends on value and the State
Rental M’gmt Fees – Usually around 7% or 8%On average closing costs are roughly around 5% of the propertys value (this falls the higher value the property).
Rgds.
Lucifer_auFor stamp duty, there are calculators on the Office of State Revenue’s website:
Try http://www.osr.qld.gov.au (or your state’s equivalent).
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