Minimum Rental income = $1,200 per week. (potential for $1,600)
3 years term, with option of another 3 years.
It is in an embasy designated area, where there is TOO MUCH demand, and not enough supply. (therefore almost gurenteed no vacancies.
Its a residential property.Whats the maximum price you would offer for such property.
The property is in Canberra
(the quality, views and size and location of this mansion would rival the most sort after properties in sydney and melbourne)Cheers
with a rental yeild of 10.4% and based on your worst cast scenario…..maximum price is $600K…. if you can get it less then the more cash goes into your pocket…. This should give you good positive cashflow… but you will need to crunch the numbers further to see what the internal costs are for this transaction.
Cheers,
KiwiWhy Rent? Rent 2 own!
http://www.rent2ownaus.comKnowing absolutely nothing about the Canberra market or to that which you describe, but having dabbled in a RIP or two, I’d be guessing that the block of dirt alone would be worth 1.5 to 2 MM, with no house…..so I’d reckon, as with most other RIP’s, you can forget about anything resembling cash flow positive.
In fact, that would be my question back to you – forget the house, what is the dirt worth ??
Dazz the Answer is NO!!!
You are not allowed to build yourself an embassy. I can picture it now – The Embassy for the Ambassador of DazzlingVille…
NO!
I do like the concept though. Perhaps it is more suited to a Hotell though?
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055The Dirt is worth (government evaluates) it around $420,000
If however, there was no house on the hill (its basically situated on top of a hill!) and the land went for auction (to find market value)
it would easily hit $600,000+The potential income as i mentioned ($1,600) is playing it safe.
As the property WAS last leased out for $2,000 per week. (a few months ago). It is vacant for now…Any other comments guys?
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