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Sorry guys, i didnt realise that people were asked not too place there email up here in this manner. So if you want a copy of the spreadsheet, email me at [email protected].
I will forward it to u as soon as i can.Thanks to the people that have been forwarding it on, on my behalf.
Any feedback will be greatly appreciated.
Thanks.
Hi guys,
Hopefully you have all received a copy of the spreadsheet.
Although the following people will not as the email has bounced back to me:
[email protected]
[email protected]Let me know if these are correct and ill try again.
Thanks.
Hi Guys,
Very interesting about the comments made.
I do totally agree with the the fact that it does attract a lower socio-economic group of people. However, it is getting better.
I hope there is still room for capital growth over the next few years. I believe there is, and the reason being the proximity to the Gold Coast and Brisbane. Plus many other reasons.
I purchased a House there early in 02. Paid $90k for it. I am about to get a valuation done and have been advised that i will get somewhere around minimum of $180k.
Maybe a bad area, but i dont mind being given $90k in 2 years.
Do ur research and see what u think.Thanks Mini,
you have clarified a number of things for me. It has been greatly appreciated.
Good luck with it all.GG
The second equation, rather then being $3438 should be $3838. Thought i would just clear that up.
So in the scenario that u didnt have the funds available and say you did have to borrow 100%, would u still consider these deals to be as good, taking into consideration the interest that you can claim on your tax???Thanks for clarifying that up. I am going through it again.
No probs Mini.
It is in regard to a post that you made on the
2-12-03 in the “$$$ Flow Positive Stories” thread.Quote:
house 1
1) When you purchased your investment?
may
2) How much you paid for it?
27,300
3) What structure is the investment
buy and hold
4) What is the weekly gross rent
110
5) What your net Cash Flow is
115 per week minus $11 per week management and
$1300 per annum rates and insurance.
house 2
1) When you purchased your investment?
june
2) How much you paid for it?
16,000 plus 10k renovation
3) What structure is the investment
buy and hold
4) What is the weekly gross rent
95
5) What your net Cash Flow is
115 per week minus $9 per week management and
$1300 per annum rates and insurance.
house 3
1) When you purchased your investment?
july
2) How much you paid for it?
19,000 plus 10K renovation
3) What structure is the investment
buy and hold
4) What is the weekly gross rent
115
5) What your net Cash Flow is
115 per week minus $11 per week management and
$1300 per annum rates and insurance.
totals:
82,300 investment
12740 in my account every year AFTER costs
net cashflow yield – about 15 percent.
cheers-
Mini
I have done the sums on your figures and i have not come up with the same thing that you have. I do come up with a total in your account of $3500 after all exp. Hence i have lost approx $9240 pa. Now i have either completely over looked something and calculated my figures wrong or u have done ur calculation and then added on ur return from the tax paid on interest???
I do like ur sums better, but not quite sure how u got there.Thanks.
Hi all,
Thanks for your input and advice in regard to this. U have made a few observations that i have overlooked.
After taking your advice and speaking with others about this property, i have decided not to purchase this property.
I will clarify i few things in regard to the property though:
Floor area is 47 square metres
Ground floor apartment
Apparently the excessive BC fees are due to the size of the land that it is on. Backs on too rainforest. Doesnt justify $3300/yr though.Thanks again for your help.
Hey, I was born in mackay and lived there for the first 18yrs of my life. I have a fair understanding of the area. My parents still live there so i still travel up that way.
Any questions feel free to ask. Email if u like [email protected].Cheers.
http://www.realestate.com.au.
Seems to be generating interest for me.Interested?? U bet! Im in London at the moment, but will be back early Jan. email me: [email protected]
I’ll third that guys. Bill has also assisted me with the queries and concerns that i have had. I thank him for that.
Definately a gr8 guy.Hi Mate,
Be great too have a look. Thanks.
[email protected]Hey guys, very interesting reading regarding the single room rental situation. I have been using this system in my house since its purchase. I purchased the property for $90k, lived for 12 mths and am currently residing in London. I have a mate in the main bedroom, 2 proffessionals in the spare rooms upstairs, 2 brothers who are students in the self contained room downstairs and they all pay $50/each a week. Do the math, not much in repayments, and since the purchase of the property it has doubled in value.
From abroad, one of my previous Landlords in London is doing exactly this. He has 53 properties across London. All fully furnished, Tv and Frig in each room. For the smaller rooms he has 2 people in them and the larger rooms he has 3-4 people in them. Each tenant pays a minimum of £70/wk! They convert the Lounge room to another bedroom to maximise profits. In my house there were 9 people living there.
Im sure they wouldnt agree with this in Australia and the council would be on your back in no time, however it is a brilliant idea and is working very well for him.AS did I. Very great response.
Thanks for your expertise.HI Bill, thanks for your advice. Greatly appreciated. However one thing that i am not sure about is what u mean by “the R/E cycle is almost six years old”. I am relatively new to this game, although i have been watching the market for some time. I am gathering that u mean that the current boom within in the real estate industry has been going for the last 6yrs. However if you could provide some clarification on that, it would be greatly appreciated.
Over the weekend i have been considering my options and have decided, as you have mentioned, that i would be better off going for one IP, and sitting on it for another quarter to half yr just to see what happens. After this time i will then consider purchasing another property.
However, in the mean time, my job will be taking me to Sydney and the idea of paying rent to someone else, doesnt excite me. What i am planning to do is to hire/purchase an apartment, hence any output that i make can be retrieved either by the ownership of the apartment or by the sale of the contract at an early stage. I wont have to have any deposit or equity up front which will be an added bonus and i also have the oppurtunity to get into the sydney market for such a property.
Can u please advise me on this idea!Thanks again for your help.
P.s. u can call me Greg (or MR Greg if u like).
Thanks Bill for your advice so far. I have borrowed against my home again since my initial purchase. I now owe $99000 on the mortgage. I was conservatively estimating that i would have at least $50 000 equity, however in reality the figure is a lot closer to the $80 000 mark.
I have been nutting over things for the last 12 hrs and have decided that maybe i would be better off to purchase 2 property’s around the $120k mark and rent each one out. Hence the properties are more likely to be positively geared and the value of the property has a greate chance of movement. Any advice would be greatly appreciated.
Thanks.
