Hi All,
I have been visiting this forum for a while now and have noticed that recently there has been alot more negative posts about how bad things are going to get. I personally don't enjoy reading doom and gloom predictions for things that may or may not happen 3 years from now, or about people whingeing about this or that. Let's admit it, complaining about things in the past or what might happen in the future that we cannot control is not constructive, at least as far as I'm concerned. Basically as investors, we can only do the best we can with the cards we have been dealt. Therefore, I thought I would start a thread that would turn our attention to more posistive matters. So, if you have had a win lately in the property market, or have something positive to write, please share!
I'll start it off – I've had some success lately in generating some good positive cashflow deals in country QLD. I have been able to buy some good properties cheap and do a little work to fix them up to increase their value. 2 are renting at the moment with a marginal positive cashflow amount (about $10 per week), thanks to the lower interest rates, and one I have sold on vendor finance terms with a positive cashflow of about $70 per week, plus about $25k capital gain built into the deal. I also have my eyes on another property that looks like a good deal which I may or may not purchase in January…
Hi guys,
good idea mpertile with this thread, with these interest rates
all 6 of my properties are in capital cities and they are all cashflow positive now
my latest one(brought in the last 2 months) is a 1 bedroom 53sqm apartment with sercure carspace in Surry Hills Sydney
I paid $325,000 and its renting for $400pw I borrowed 95% + LMI(IO 315,000) through CBA at 6%..Sydney innercity rental yields are great at the moment..
all the best guys..
mpertile
Of course one of the downsides about wrapping in Qld is the payment terms when it comes to the First Home Owners Grant.
A minimum of 12 months is a long time to wait to receive your $14,000 so i prefer to now look at other States for my Vendor Financing.Richard Taylor | Australia's leading private lender
Good point Richard – have you had any wins you've had lately in regards to your wraps in the other states?
Hi Guys, good news
My fiance and I just picked up another 1 bedroom apartment in Sydney (it was a mortgagee sale) its one block from green square train station (3 km from the city)
its 80sqm internally and has a sercure car space the building is only 7 yrs old strata fees are 540pq we got it for 305,000, we are using 95% finance + LMI at 6% (variable) interest through CBA, it will rent for 400pw..all the best guys, happy investing
Good news:
Long term tenant (4yrs) decided to move out and PM has increased rent from $200pw to 300pw. With a list of people wanting to rent.
BUMP!
Time for some more good news I say
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