All Topics / General Property / Dulwish Hill

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  • Profile photo of DeanCollinsDeanCollins
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    @deancollins
    Join Date: 2015
    Post Count: 376

    I Just watched the auction video for 17/22 Ness Avenue, Dulwich Hill
    https://www.facebook.com/randwmarrickville/videos/941605099273559

    We were thinking of bidding on it but didn’t end up getting sorted in time.

    Here are the listing details – http://www.domain.com.au/17-22-ness-avenue-dulwich-hill-nsw-2203-2012999245

    I was prepared to pay up to $649,000, Jodie wanted to spend $675,000 (but I wouldn’t have let her do that) as 4% gross and 3% net roi is our minimum returns as you can see in the calculations here – http://blog.collins.net.pr/2016/09/1722-ness-avenue-dulwich-hill_10.html

    Lol people are losing their minds……. at $726,000 way way overpaid. Basically overpaid by a brand new car (or two)….think about that for a moment.

    I did some quick sums basically @$500pw rent with 20% deposit of $145,00 and $34,000 stamp duty and legal costs this will be cashflow negative for about 6.5 years……and that’s without interest rates moving so basically they will be losing roi month in month out for about 10 years and never see an investment return until they sell it.

    I hope they like golf……

    Great work by the sales team though, the vendor must be ecstatic. :)

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