Forum Replies Created
- Quote:Am I missing something? Some of the figures don’t seem to make sense to me – such as “strata agent cost repairs costs between 20399-20919 per yr”.
If that was the case I wouldn’t touch itquote]here are the cost interest on 246k 6.25% fixed 5yr =15375, agent 8% income on 27300 =2184,strata cost 365per qu x 4=1460,rates 1600,repairs say 300 total cost to hold borrowing 100 % =20919 pa,so break even point is 402.20 per wk
aim to reduce my negitive gearing of 30k ,lots equity to use by buying positive properties, company rents these places ,vacant no longer than a day or two in stong demand area capital growth over past ten yrs 7.7% pa not many properties for rent that is my total costs borrowing 100% of property
quote:
What are you aiming for here, posative cashflow or capital gain?If posative cashflow, how long is the current lease? Have you asked the tenant what his/her plans are? Are there many rental properties availavle in the area?
If capital gain, what is happening in the area? Developments? What is the council up to? Is the population increacing?
Firstly decide what srategy you are planning to use then decide if this property fits the strategy.
Looks tempting though, make sure you have the downside covered. Look at the worst case scenario.
I have probably given you more questions than answers right now, but you need to consider them when making your decision.
Keep at it
Best Regards,
Andrew.
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Be Great today!
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