Hello,
I have a unit. the rent is double what the repayments are.
That is a good deal.
Since this latest property boom i am finding it hard to find any property’s where the rent covers the repayements.
Are there any properties where the rent covers the repayments in SE QLD?
I am willing to buy anywhere and am not limited distance. But price cannot exceed $300,000.
Thanks
A[medieval]Hi Aaron, it all depends on what you personally call cashflow positive. Is it all costs covered, mortgage and management rates covered or something else.
At the moment all of the deals available through me are only 7.5% return which does cover mortgage but not rates and body corp fees.
I am cautious in WA deals as the management there sucks with several extra charges and fees, just for actually doing their job. Add this back into the deal and you need an extra 2% on each deal to make it bearable.
Good Luck and happy hunting.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!I only worry about the rent returning more than the repayments. Rates and other stuff, fees, bodycoporate, and insurance i cover myself.
Any ideas on what cities i should be looking at?[grad]
cities where the rent is just not enough to buy include.
Gold Coast
Sunshine Coast
Brisbane
Caboolture
Bundaberg
CairnsWhere is somewhere that you can actually get a decent return for your $$?????[glum2]
I would recommend the Ipswich area. Still good value and an area that is rapidly growing.
Happy to chat via a “PM”Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
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