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there all tenanted at the moment, but complex needs a bit of work – but only cosmetic stuff – paint, new carpet in one, few lights to the outside. Purchase price of $150,000, first to admit was lucky to get it – previous purchaser pulled out after tagging the vendor along for 2 months. Right place right time, im sure everyone is entitled to at least one win!!
first time user, long-time reader. Have got to say that decent deals are still out there, as evidence i have just signed on 4 x 2bd units with single title in regional location within easy commuting distance of city with 35,000+. Showing gross return of 13.5% on purchase price, with some growth in rental available. What you need to be comfortable with is yield is only a reflection of risk – ie something with 13.5% gross is going to have a greater degree of risk then, say a beachfront property showing only 3.5% which one would assume is relatively risk-free. Not going to give locations though, dont think that is fair to me or any other punter doing the yards to get their own deals over the line. Nevertheless, ‘keep the faith’ and happy hunting.
