My first IP has just settled and it is a 2 unit retirement property with Sunnycove in Qld. The purchse price was $183,250 (including furniture) and the Bank of Queensland valued the building only at $178K. The furniture package is $8,800, so I was in front even before we settled.

If you are buying to hold, it doesn’t matter if the growth is slow, because of all that lovely pension rent (usually 85% of the pension.

The return on my property will be 12% gross. Now that’s +ve cashflow[][][]