See spreadsheet below to know how I came up with the $450 per fortnight amount
https://spreadsheets.google.com/spreadsheet/ccc?key=0Atoy6hwSU41AdGhtblhPSHRqek9DSDlxYVlNZnNjQ1E&hl=en_US#gid=0
I used http://www.allhomes.com.au/ah/act/sale-residential/11-revell-close-gordon-canberra/1316797481111 as the basis for my calculation (i.e, Property worth $400K fetching $400 rent per week).
Why your interest rate is 8%? fixed?and your agent management is 9%. A little bit overpriced? Mine was 5.5%.
but normally the sale of similar units has indicated the price rise of 3-40k..it’s not a brand new building but 8yr old
any ideas???
just to add currently I am borrowing $360k. I am able to put app $30k per year into the offset account if I don't take any other investment plans.
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