i’d say it’s a good deal, as long as it’s not a high maintenance property.

i just sold one i had in cairns n.q. for 155,000, rent 210/w, because of the high maintenance costs.

i’ll buy a younger house next time.

ask your property manager

if you havn’t got one, go and ask one anyway, i’m sure one will help.

they know exactly what tenants want, and you porbably won’t overdo it that way.

smee again

i stuffed up the last reply, twoz my first time.

re + cash flow or not

+ rent / a
– rates
-insurance
-maintenance
-vacancy
-interest
if you end up with anything left after that, it should be worth it.
don’t stop investing, just because it doesn’t match the 11 second solution.

quote:
The 11 second rule is:

(Rent/2)*1000

So in your case:

(253/2)*1000 = 126,500. So according to the 11 second rule, this is not a +ve property.

To get +ve properities, you need to look outer suburbs in major cities (but even that is rare) or regional areas.