Hi Guy’s,
I am so excited that I just had to jump online and tell you all about the property I just purchased.
After months of anaylasis peraylasis (Excuse the spelling),I have finally purchase my second cashflow positive property!
I know, I know. Most of you have already gone far beyond that but I can’t help feeling excited.
Here are the stats.
4 x 2 br flats @ $180 000.
$400 p/w income from units.
Rates: $2570 p/y
Insurance around $600 p/y100% finance using equity of 1st investment property.
All tenanted under lease.
Evaperative AC in all units
Security Doors/Windows.
Concrete Block construction.Freehold
Each unit has own laundry and bathroom.
Land size 1004 sqM
Units are a plain but serviceable.My figures tell me its about a %10.7 gross yield or %7.9 net.
What do you think?
P.S. For all you people who dream of cashflow properties. They do exist.
I have 4 children and 1 average wage.
YOU CAN DO IT TOO!!!![biggrin]
You will always miss 100% of the shots you don’t take!
Well done – congratulations – how far from home are these units? Do you expect you need to do much to manage?
Ronulas- big congratulations to you :o)
I think you’ve surpassed me. From my reading, you now own 4 units from this deal and another investment property- that’s kind of 5!
I’m glad you’re so excited, I love to see people enjoying what they do
))))kay henry
Thanks Guy’s,
As for your question Yack, yes they are a long way from home but the population is over 20 000 with 5 agencies so management should not be a problem. I don’t think I will have to do much of anything too them as they are already rented out and have been for a long time.
You will always miss 100% of the shots you don’t take!
Hi,
Now that you presumably have settled the property and its in your name, would you like to tell us where you bought the units? Congrats on an excellent purchase.
Hi Ron,
excellent job – congratulations and keep the spirit alove – well done again.
would like to know which area it was in and the interest rate you got.
share your experience on it – break down the costs and let us know how you went…if you don’t mind.
thanks
regards,
geo.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
No Problems,
I’m still going through the finance at the moment so I won’t count too many chickens yet. When it is all finalised then I would be happy to break it down for you.
As soon as I have a contract done I would be happy to share location ect. But if it falls through then I don’t want to be in competition with half this forum for any other properties.[eh]
Sorry if that is a little cold but it is hard enough to find good properties as it is.
You will always miss 100% of the shots you don’t take!
Hi Ronulas,
Good for you – for buying AND keeping the 30,000 plus potential competitors at bay! If the units are strata titled it also sounds like five properties to me. Your enthusiasm is inspiring.
Anne.
))))
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