We’re confused.
We’re ready to buy and have been looking, but apart from something that we discovered was in a flood prone area, we have not been able to find a property where the numbers totally work for us.
Using the 11 second solution as a guide for the relationship between rent and purchase price, even on the few occasions when that requirement has been met, by the time we factor in the rates and other expenses, we are not ending up cash flow positive. We get things like -$10 per week.
Has anyone else found this?
Also, with the boom all the way up the Queensland coast, where else do we look. Places have already moved and the bargains have all be picked over 3 – 6 months ago. Do we just wait.