Hi, well guess if you look hard enough, cheapies are possible.
4 x 1 bedroom units – 300K the lot, with a weekly rental return of 430 p/w.
Had these not be in country Vic, I would consider snapping them up myself, however, if they were closer to home, they probably wouldn’t be so cheap. BTW apparently they have been recently renovated, and are currently all fully tenanted.
If you want to know more about them just PM me.
JO
It would depend on where it was. If they had opportunity for great capital gain then it is a reasonable deal. If not then it would cost you quite a bit each week out of your own pocket.
The $430 rental per week barely meets the interest on the loan.
But as I said, OK if the cap. gain is there.
‘Eat rich food, barbeque a yuppie’ [greedy]
Hi Rugbyfan,
You’re absolutely right, and that is why I wouldn’t consider it for myself. There are those out there, that may consider it worthwhile, hence my drawing attention to it, but it is definitely not for me.
I am not into “cheap” properties, even though I am interested in cashflow over CG, I ONLY purchase properties that will have a reasonable amount of growth.
It is in a rural area, and the population is not large, and aside from that is is way too far from me to travel to back-and-forth.
My only concern with cheaper properties is that the management of same (due to distance) and quality of tenants in these areas. I will stick to Metro Melbourne, more expensive, but growth is far better (which means I rest easier at night) [sleepyanim][sleepyanim][sleepyanim]
I do believe, in the end, you get what you paid for.
Jo
I agree with what Rugbyfan wrote also. It might also be a good idea to check with the council in the area to see if there are any developments or business investments in the pipeline. If so it could turn out to be a good money maker. The rental return isn’t too bad either (even though it’s not CF+).
Hi guys
Monopoly that may be a good deal ??
but my brother just signed a deal 340k for 900pw in a city of 50,000.
I am very impressed with his find.
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Hi, Where are these properties situated.
J.Azizi
Hi hasna 1oo
i’m really sorry but i can’t share that with you, as i’m after more. obviously if i mentioned it we would be heaps of interest from people on the forum and i would have too much competition.
sorry
regards westanI find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Hi Monopoly,
At the moment we are selling a block of 4 quality 2br units for $290,000. They return $485pw. They are located in the leafy part of town, not in a housing commission area.
They are in a large regional town in Victoria with a population of about 15,000 which services a surrounding area of about 70,000.
They are also being sold with a planning permit to subdivide!
I would not be in so much of a hurry on your deal.
Regards,
Del
Hi again,
By the way, if anyone is interested in the above deal, PM us and we can forward details. It is in the hands of a RE Agent.
I won’t be charging a spotters fee!
Regards,
Del [thumbsupanim]
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