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Been offered a freestanding (140sqm) property in Newtown, Sydney. The location is excellent close to transport and only 3-5 km from the city centre.
The vendor willing to do a WRAP with me based on 7.25% variable and the property is around 525K with 20K deposit.
The property is in good condition and can fetched around 380 a week. It will definitely not able to cover the mortgage but I think the long term it will be good for growth.
What do you all think about this investment?
For you or for the vendor???
You’ll be about $16,000pa in -ve cashflow, and thats before management, rates etc.
Think carefully…
Pete
Viewing 2 posts - 1 through 2 (of 2 total)
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