My steal of the week. $20,000 cairns unit which vendor paid $113,000 for rent $160pw.

SWS did you read Nathan’s second comment, its CF+ 2200PA..Now this may be a lie and seems like it could be, or he has a magical accountant (which could be very true)

but depending on your point in your financial strategy this is a great pick up. Yes there are many reasons I personally would not buy it in the next 5 years, but for someone at that stage, its a great pick up.

Now if you look at that property today I am sure its valued 150k plus

now this is the last and most important point, how much would it cost to build it! and whats the desire for it.

For e.g. if I can buy a house that cost 1.5mil to build and I buy it for 400k then thats amazing unless it never can get rent.
but if I buy a 1.5mil property for 600k and it rents for 1200 a week every day of the year, then I am laughing.