Forum Replies Created
KT2303 & Cadilla69
Cad had some great advise. 106% is very possible. Gets you into the market. May cost you mortgage insurance but if the deal is as good as you feel you will already be in front. Check your numbers to make sure you can at least make interest payments and the underlying costs and get on the road to success. All the best, Doc
kALGOORLIE:
I am buying in Kal, seems very stable. Shire just spent $5,000,000 on new acquadic centre, Bunnings just spent 7 figures on a new store. Target, new shoping centre, Harvey Norman spending several mill on new shopping centre, Big W just going up. A lot of new top quality homes going in. Super pit the main mine has 17 years to go on digging site. Currently at 350metre and going to 650 metres deep and several km long. Second biggest mine into gold and nickle, just being bought out by one of the largets mining companies in the world. Into gold and nickle. Price began climbing 18 months ago and are on a steady rise. Rents are good. All indications I can find are good for the foreseable future. Particularly with the ongoing gold forcast. All the best, DocConsider out of state. It still doesn’t fit the divide by 2 x by 1000 of the book BUT a $480,000
I just bought makes $750 a week. Just bought a $565,000 house making $900 a week. Karratha
a mining town in WA. Great potential, booming with oil and gas. Certian units in Kalgoorlie pencil out real well. Bought a 4plx for $490,000 two weeks ago $800 week rent. A beautiful townhouse $290,000 gross rent $400 week. I also do interest only loans for three years to give a property a chance to produce more rent or I then sell. Hope it helps,[biggrin] DocOriginally posted by Docbue:Originally posted by deejay12:Have just read about Steve’s 11 second ‘quick evaluation’ to work out if a property might suit a positive cash flow investment strategy.
However, when I do the sums for almost any property I can think of, they just don’t add up. Take my own modest 3 bed house, average block, 20k from Melbourne CBD – think I would be OK renting it for around $250 per week, which would then make it a good buy for an investor — at around $125,000 (Taking the weekly rent, divide by 2, then multiply by 1,000)
Trouble is, that’s half what I would expect a low offer on the house to be right now.
Can someone please explain where these properties are that can produce positive cash flow ???
Originally posted by deejay12:Have just read about Steve’s 11 second ‘quick evaluation’ to work out if a property might suit a positive cash flow investment strategy.
However, when I do the sums for almost any property I can think of, they just don’t add up. Take my own modest 3 bed house, average block, 20k from Melbourne CBD – think I would be OK renting it for around $250 per week, which would then make it a good buy for an investor — at around $125,000 (Taking the weekly rent, divide by 2, then multiply by 1,000)
Trouble is, that’s half what I would expect a low offer on the house to be right now.
Can someone please explain where these properties are that can produce positive cash flow ???
Originally posted by deejay12:Have just read about Steve’s 11 second ‘quick evaluation’ to work out if a property might suit a positive cash flow investment strategy.
However, when I do the sums for almost any property I can think of, they just don’t add up. Take my own modest 3 bed house, average block, 20k from Melbourne CBD – think I would be OK renting it for around $250 per week, which would then make it a good buy for an investor — at around $125,000 (Taking the weekly rent, divide by 2, then multiply by 1,000)
Trouble is, that’s half what I would expect a low offer on the house to be right now.
Can someone please explain where these properties are that can produce positive cash flow ???
[biggrin]
