I have been hunting for a investment property for a while and been a regular reader of this forum. Since my wife is on maternity leave my borrowing is rather limited inspite of having equity of over 250K on our home. I have found a unit listed for sale at Beenleigh, QLD which is a older style unit 3 bedder for around the 110k mark. the rent at present is 120/ week and the unit needs extensive work in terms of carpeting, bathroom, kitchen and fixing some ceiling dampness coming from the unit above.I would appreciate any advise or hints if you guys could contribute..
what exactly is good about this property – everything you have written including the price wouldn’t even get me out of the real estate agents car (that is if they did taxi you around these days…)
the location is pretty good, its a 3 bedder and possibly may have good rental demand. i expect that if i do fix it after a few months that i can top up the rent to 145/ week…
also its in a growth area …will that water probo wait a few months? its probably a body corporate issue (which will then mean higher bc fees for you)
growth area…yes, i agree, there are thousands of hectares of new resi development proposed in the area – see Delfin for details.
are you a builder?
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