Settled on my first IP on Friday. $255K for a brick and tile home. It is located in the NSW Hunter region.
In light of the nature of the rental market in the area we decided to rent the property fully furnished. This cost just over $6000 to do. However because of this we are getting $550 per week for rent starting today. Normal market rent would have been about $300. We are told that in the area we bought the fully furnished market will be strong for at least 2 years and maybe as long as 5 years. Let hope this turns out to be true
Don't forget to claim depreciation on that furniture !
That's my plan, but I'll leave that to the accountant. Not sure that all works.
Any hints on the postcode? Mining town maybe? Come on the suspense is killing me…..
with depreciation you are paying off the furniture in less than 2 years, thats a great return you have there for yourself! well done
and yes where in the hunter? i was looking at branxton a few months ago
Muswellbrook.
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