But yes, add insurance to that.

These are the outgoings for a cheaper (Still 2×1) apartment in the same area to get an idea:

Approximate outgoings:
Council rates: $509pa
Water rates: $539pa
Body corp: $2,344pa
Total = $3,392pa

I made an allowance for expenses of 85*52= $4420pa …. which is probably a bit on the lower side, but keep in mind that I assumed the interest rate was…[Read more]

First post – Looking for some constructive feedback.

Really not sure why inner city apartments haven’t been mentioned?

For instance, whats wrong with this one?

Pruchase price: $255,000
Currently leased until February 2015 returning $1,999 per calendar month (499.75pw)
10% deposit of $25,500
Amount borrowed: $229,500 @ 6% is 343pw repayments…[Read more]