Hi peoples
Am not in the market to buy myself, but always looking out of habit.
Just thought I’d post this one.They say you can’t find POSITIVE GEARED investment properties, here is one I found returning over 8% on Realestate.com.au
Property No. 106818309
$220 week rent, 139k asking price, CRAZY.
It can be done!!Thoughts?
Whether it is a good buy or not is another question.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
there are quite a few like that on there.
There's about a dozen in Wagga Wagga at any one time…..ex gov cheapies purchased for low $100k, few renos and rent for $240.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I just bought my first IP…
Paid $235k for a 4 bedroom house in Hebersham, rents for $350 a week….
median house price in Hebersham is $279k….Thought that was pretty good for first time around!
Moree also has plenty of positive geared properties… but would you buy there when you can buy in Sydney 45 kms from the CBD like i did, where there are NO 4 bedroom houses available to rent in the suburb..
235k @350 per week rent is a decent return, 7.7%
even with these ruthless so and so’s running the banks and jacking up rates its positive geared.
congrats, goldies !!!
Congratulations Goldies – Well Done
I'm truly excited for you. I'm a newbie and am looking and not really knowing what I'm doing. Also a bit mathematically challenged, but even I can see you did well!
Hope you're celebrating!
Kind regards
+ geared properties are out there, I just settled on a property in Coober pedy. 3 units returning 350 p/week total we bought for 170k. Thats about a 10% yield. Not bad i thought. And we fixed the rate for 3 years!!
Well done Goldie. Good price and rent for that area. I don't mind Hebersham (well parts of it).
Prices have certainly moved around that area in the last 6 months.
Did you need to do any work to it?
Hi Johnny,
Good work on finding a +ve cashflow property on realestate.com.au. How long did that take you?
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Good to see some positive minded people out there, sure things are not great, but still there are opportunities out there. Why buy in a boom? You’ll pay too much and having to wait years for a capital gain. Why not go against the trend and jump in against the majority, grab a great deal and reap the rewards. Never say never!!!
Just bought a 2bd unit in Cairns 1 block from uni for 110k renting for $235. Bought it through our SMSF so no rush for CG. My first +cashflow. yay
I have a property that I bought earlier in the year in Horsham Victoria. I paid $178k including furniture and I rent it out as a corporate rental as it is right next door to the hospital – $350 a week! There is a fair amount of growth in Horsham so I am confident that there will be some capital growth aswell – but in the mean time I am not out of pocket!
Ash7261 thats like a 11% return, but what is the body corp / council rates etc?
Amazing !!!net yield of @ 8.2 once Body corp and rates are taken
So who was it that purchased that little property in tassie?… i see it is under contract
I’m always suspicious of these wealth companies. They sell you loans (they get commission) , sell you property (they get commission). And the rents they quote are always way off market averages, like buy this house for $500k and get rent return of $900 week. Like get real here!! These figures maybe right in a mining town in the middle of a boom, but these figures are not sustainable.
Better to look at real properties, at or below market prices in good growth areas. Good rents and capital growth will follow, in the short and long. These cowboys will be long gone.
Just my thoughts.Positive geared property first needs to be purchased at the right price. Finding the best bargains might be difficult if you are dealing with the seller's agents. You need a professional on your side that can get you the best deals. This is where a buyer's agent comes into play. A buyer's agent works for the buyer to get the best price for your investment. These professionals also have the clout to negotiate deals on positive geared property that you probably wouldn't be able to manage on your own.
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