Hi I have 2x3bedroom brick duplex land area 1050
price $460000 for the 2
15 minutes from ballina 1/2hr from Byron bay
both rented
realestate say they are selling comparable propertys for $489000
owners want to sell to leave the country
quick sale required thats why the price is good.what is the rent at the moment?
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Thank you for your interest
we have had the same tenant 4/5 years and have never put the rents up as they are such good tenants
who keep the grounds in order and we only go up once a month just to do the lawns to our own standard.
we charge $150 each unit the realestate agent said we should be charging 180/$190 the Duplex is Brick and does not require any maintenanceThat is way CF-, even with the ‘freebie’ equity.
Cheers
MelMEl I am new to this what does CF- mean
cash flow negative.Pay out of your own pocket to meet banks repayments.Yuck ,I would rather pay more tax.[
]
Domthank you for that in fo on CF-
but the gain would be in the fact that the areas resale value is going up
and renters are always in abundance
the army rent 3yr leases
and the unistudents rent by the roomyes you are right it would depend on your strategy eg.capital growth,rental yeild(positive geared),tax minimisation ect.
But this being a positive cash flow property investment forum i would suspect most proffessional investors would not be looking for something like this even thought it is a good deal.
Dom[]Purchase Price = $460K
Deposit (cash deposit) = $92K + $20K costs
Loan = $368K @ 7%Repayments = $495 per week.
Rent = $300 per week.$200 input before any other costs!! That is huuuuugely negatively geared. Big income and tax breaks required to happily fund this one.
Cheers
MelIf you did a an offer and got the duplexs for $440000
20% deposit $88000 cost $20000 loan amount $352000
rents you could get ezy $370 per week for the 2
I still think its worth a look Tax wise I said the land was 1050 I was wrong the land size is 1450 these Not many duplexs on that size landHi ezy … You are or seem to be desperate to sell these … what is you commission … what is the depreciation allowances … can you provide a disclosure document … who is the independant valuer … can you provide evidence of recent sales … regards Phil
I am not charging a commission the seller is a family member who wants to sell up and go home to NZ
I said I would help if I could The realesetate agent said they are in the right price bracket between 460 and 489000 but the duplex is not listered with any agents so the price is negotable as there would be a saving of no agent fee’s The size of the land is wrong I said 1050 it should read 1450 I have photos comming and will be happy to send them on if you are interestedWhat year was it built and the building cost?
Is there a depreciation schedule?
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
sorry i have no idea of the building costs or the depriciation I do have photos they have just been sent to me if they are any help..[
]I would guess they are about 12 yrs old.
]
]I would guess they are about 12 yrs old.You must be logged in to reply to this topic. If you don't have an account, you can register here.
