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Thank you so much to all who have replied, much appriacted. Its good to know people are out there to help :)
The cash-flow is based on a 80% loan.
The area is good at the present time and does have potential to rise in value, how ever there is a bad area that is slowly building towards this area and may drag further “scum” into here, unknown what the future will hold
The property was brought 3 years ago for $380,000 and would sell for at best the same rate today, however i’d be purchasing it from my family at $360,000
At the moment the property is being rented to our family friends (unsure of amount but i know it is negative due to helping family friends afford it)
I will get some further details of rental yield and repayments off of my family when i see them next and reply shortly after
I know by statistics in the area im looking at only a $90 positive cash-flow return from rent after repayments, i know its good that it is positive but i feel it is very low
Hello Jacqui, thank you for your reply.
I have given some thought over night and with what you have said i have decided that its best to purchase a property which i know can perform betterThe family property hasn’t risen in value over the 3 years we’ve had it and the est. cash flow is about $90/month
Thank you for your response
Mark
