All Topics / The Treasure Chest / “Bird-Dog” deal in Queensland

Viewing 17 posts - 1 through 17 (of 17 total)
  • Profile photo of Bongo166Bongo166
    Participant
    @bongo166
    Join Date: 2003
    Post Count: 1

    Anyone interested in a deal as follows:

    $250,000
    6 x 1 bedroom Flats. Solid cavity brick & Wooden internal construction. Rented at present for $75.00 unfurnished $85.00 furnished per week. Could be redeveloped into motel depending on local council approval

    This ones a little bigger than i want at this stage. Contact me and i will advise location.

    Profile photo of MiniMogulMiniMogul
    Participant
    @minimogul
    Join Date: 2002
    Post Count: 1,414

    quite good

    meets 11 sec solution….with a bit to spare!!
    You might need 30 percent deposit though (????)
    good for you!!

    Someone should take this deal!!

    Profile photo of --Brett--–Brett–
    Participant
    @–brett–
    Join Date: 2003
    Post Count: 20

    I’m interested. please send me some more details of the property to [email protected] and also include details of what you’d like out of the deal.

    thanks,
    brett

    Profile photo of MelanieMelanie
    Member
    @melanie
    Join Date: 2003
    Post Count: 382

    Howdy,

    Looks good on return but just beware that from lender’s point of view if units are too small (45 sqm livable floor space minimum) or in regional area you may be looking at tipping in up to 50%.

    Sounds worthwhile trying though!

    [:)]
    Mel

    Profile photo of diclemdiclem
    Member
    @diclem
    Join Date: 2003
    Post Count: 537

    Sounds like a great deal, but like yourself a little big for me at the moment…
    However, if you should come across some cheaper investments that you need to pass on, send me an email at

    [email protected]

    Cheeky of me, I know[;)]

    Keep smiling,

    Sue [:)]

    Be careful not step on the flowers when you’re looking at the stars

    Profile photo of luckyoneluckyone
    Member
    @luckyone
    Join Date: 2003
    Post Count: 148

    Forgive me if I’m wrong, but that doesn’t meet the 11 second rule unless they are all rented out at $85 pw?

    Profile photo of slatzagainslatzagain
    Member
    @slatzagain
    Join Date: 2003
    Post Count: 43

    I think you’re right luckyone:

    Purchase Price $250000

    Divided by 1000= $250

    Multiply x 2 = $500 required weekly rent.

    6 units = avgerage rent of $83.00.

    Nevertheless, the return may not be quite 10.4%, but it’s definitely CF+.

    Profile photo of loressloress
    Member
    @loress
    Join Date: 2003
    Post Count: 21

    Hi Bongo

    Would you mind emailing me some more details please.

    Thanks

    Jen

    loress(at)bigpond.com

    Profile photo of RyderRyder
    Member
    @ryder
    Join Date: 2003
    Post Count: 8

    I would also be interested in having a look at this (though I may be a bit late in the queue !!!)

    Please E-mail [email protected]

    Thanks in advance.

    Profile photo of muppetmuppet
    Member
    @muppet
    Join Date: 2003
    Post Count: 900

    Hi Guys

    When you put your email address in the forum put at instead of @. This will stop your email address being highlighted.
    Why do you say? It is to stop web based trawlers from accessing your address and attaching virusses etc to it.

    Regards

    Profile photo of TruskaTruska
    Member
    @truska
    Join Date: 2003
    Post Count: 20

    quote:


    Anyone interested in a deal as follows:

    $250,000
    6 x 1 bedroom Flats. Solid cavity brick & Wooden internal construction. Rented at present for $75.00 unfurnished $85.00 furnished per week. Could be redeveloped into motel depending on local council approval

    This ones a little bigger than i want at this stage. Contact me and i will advise location.


    Profile photo of TruskaTruska
    Member
    @truska
    Join Date: 2003
    Post Count: 20

    Hi

    I”m interested (but probably too late)

    Pls send info to baden(@)jkinghorn.com

    Thanks

    Baden

    Profile photo of Prop16Prop16
    Member
    @prop16
    Join Date: 2003
    Post Count: 145

    Flat average rent per week= ($75+$85):2=$80
    6 Flats= 6x$80= $480 per week rent income
    Applying 11 sec.: $480:2= $240 x 1000= $240,000
    Price= $250,000
    How come +cashflow???
    Or is my calculation wrong?

    Profile photo of calroncalron
    Participant
    @calron
    Join Date: 2003
    Post Count: 78

    is this by any chance in a place called Bowen??
    A seasonal fruit picking town???

    Cheers

    Calron the Alcamist
    Turning things into gold is fun.
    [email protected][;)]

    Profile photo of MiniMogulMiniMogul
    Participant
    @minimogul
    Join Date: 2002
    Post Count: 1,414

    I calculated it on the higher of the two amounts. 85 per week x 6 ( = $510) x 52 weeks = $26, 520 per year.

    Questions to ask are 1) here’s the list price, what can I get it for – re-do your figures on the new price. Maybe you can furnish all 6 fairly cheaply. I heard of people getting stuff for free off the side of the road on throw out day, by cruising affluent suburbs with a trailer!

    2) can you get it with no money down? Either by using equity or vendor financing for 30 percent of it and then lender for 70 percent. Then it might be a bit neutral in the first year but over time the rents will go up and the repayments down so it should get CFP really fast.

    3) furnished – doesn’t that attract a more itinerant kind of person?

    4) check rental demand in area – how many are rented right now? if all then that’s a good start.

    5) get builder’s report. Pest report. remember Steve’s story about white ants in a block of flats, from the seminar???

    chances of all flats being empty at the same time is low so it’s kind of like a spread risk within the one investment.

    Profile photo of LynchyLynchy
    Member
    @lynchy
    Join Date: 2003
    Post Count: 12

    Could you send me some info,thanks again, Bird [email protected]

    Profile photo of feathersfeathers
    Member
    @feathers
    Join Date: 2003
    Post Count: 7

    Hi Bongo 166, i am in Adelaide and have spotters in QLD, am i too late to get the information on this opportunity? If not would like to know more if possible. Cheers. Feathers. email is harristony at aol.com

Viewing 17 posts - 1 through 17 (of 17 total)

The topic ‘“Bird-Dog” deal in Queensland’ is closed to new replies.