Hi,
I am considering making my first step into investing in property & would really appreciate any feedback or comments.
I am looking a single bedroom unit in Unihouse in Adelaide City Centre. Units are 2 yrs old central location provide all facilities such as business centre for students but no car park – only an agreement with Upark across the road for an additional cost to the tenant.Apparently demand for student accomodation is very strong with a long waiting list (according to the agent)
Asking price is $127,500 rent is $175/wk but costs are currently running at 30%. Is there anything I should be wary of with this investment?
Thanks
Viv [
]Hi,
If all you did was make money, then you’d have to make money.
The question then (in my mind) is does this investment make money from day one.
Crunch the numbers and I expect that it won’t, which is why you’ll receive tax benefits (ie. write off the loss).
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Thanks Steve
I have done the figures using Jan Somers software & you are right the benefit of reducing tax turns this into a positive cash flow. But is this bad?? Should a true positive cash flow property provide cash flow before tax considerations are taken into account??
This is such a big step & I’m still not sure whether to go for this 1 bedroom apartment or look for a house with land.[?]Thanks
Viv []Thanks
Viv
]
The topic ‘Advice needed’ is closed to new replies.
