“Bird-Dog” deal in Queensland

I’m interested. please send me some more details of the property to [email protected] and also include details of what you’d like out of the deal.

thanks,
brett

Sounds like a great deal, but like yourself a little big for me at the moment…
However, if you should come across some cheaper investments that you need to pass on, send me an email at

[email protected]

Cheeky of me, I know[]

Keep smiling,

Sue []

Be careful not step on the flowers when you’re looking at the stars

I think you’re right luckyone:

Purchase Price $250000

Divided by 1000= $250

Multiply x 2 = $500 required weekly rent.

6 units = avgerage rent of $83.00.

Nevertheless, the return may not be quite 10.4%, but it’s definitely CF+.

I would also be interested in having a look at this (though I may be a bit late in the queue !!!)

Please E-mail [email protected]

Thanks in advance.

quote:

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Anyone interested in a deal as follows:

$250,000
6 x 1 bedroom Flats. Solid cavity brick & Wooden internal construction. Rented at present for $75.00 unfurnished $85.00 furnished per week. Could be redeveloped into motel depending on local council approval

This ones a little bigger than i want at this stage. Contact me and i will advise location.

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Flat average rent per week= ($75+$85):2=$80
6 Flats= 6x$80= $480 per week rent income
Applying 11 sec.: $480:2= $240 x 1000= $240,000
Price= $250,000
How come +cashflow???
Or is my calculation wrong?

I calculated it on the higher of the two amounts. 85 per week x 6 ( = $510) x 52 weeks = $26, 520 per year.

Questions to ask are 1) here’s the list price, what can I get it for – re-do your figures on the new price. Maybe you can furnish all 6 fairly cheaply. I heard of people getting stuff for free off the side of the road on throw out day, by cruising affluent suburbs with a trailer!

2) can you get it with no money down? Either by using equity or vendor financing for 30 percent of it and then lender for 70 percent. Then it might be a bit neutral in the first year but over time the rents will go up and the repayments down so it should get CFP really fast.

3) furnished – doesn’t that attract a more itinerant kind of person?

4) check rental demand in area – how many are rented right now? if all then that’s a good start.

5) get builder’s report. Pest report. remember Steve’s story about white ants in a block of flats, from the seminar???

chances of all flats being empty at the same time is low so it’s kind of like a spread risk within the one investment.

Hi Bongo 166, i am in Adelaide and have spotters in QLD, am i too late to get the information on this opportunity? If not would like to know more if possible. Cheers. Feathers. email is harristony at aol.com