Hey guys,
As discussed there has been great deal of people asking me for my $20,666.66 purchase properties. These have exchanged unconditionally finally so happy to disclose now. They are located on 300, 302 Morton St Moree and 8 Alice St Moree.
Two of these require renovations and one not so much renovations. With the reno's we will need to spend approx $25k per house depending on work carried out. Once renovated they should rent between $180-220pw each, and $150pw for unrenovated one.
The pics are of the 3 properties.
Numbers; Purchase $62,000 in total. Reno $50,000 Total $112,000 Rent 200x 2 + 150 = $550pw / 28600pa 25% with reno pa or 46% on purchase price.
Who says the deals are not around currently?
Moree can be considered to be a rough town, however its population of 10,000+ and this part of town isnt the bad housing comm side. These 3 properties also form a part of a development site, which could be carried out from that angle. With our deposit it is $100 mine, and $100 for the other two (I'll leave you to speculate who the other two purchasers are
) and settlement will execute sometime in the distant future once the vendor is able to meet our condition of vacant possession 42 days before settlement. So in control of the deal for $200 all up.
Anyways, this one is on the table open for comments.
I know this is a very profitable cf spinner.
As discussed there has been great deal of people asking me for my $20,666.66 purchase properties. These have exchanged unconditionally finally so happy to disclose now. They are located on 300, 302 Morton St Moree and 8 Alice St Moree.
Two of these require renovations and one not so much renovations. With the reno's we will need to spend approx $25k per house depending on work carried out. Once renovated they should rent between $180-220pw each, and $150pw for unrenovated one.
The pics are of the 3 properties.
Numbers; Purchase $62,000 in total. Reno $50,000 Total $112,000 Rent 200x 2 + 150 = $550pw / 28600pa 25% with reno pa or 46% on purchase price.
Who says the deals are not around currently?
Moree can be considered to be a rough town, however its population of 10,000+ and this part of town isnt the bad housing comm side. These 3 properties also form a part of a development site, which could be carried out from that angle. With our deposit it is $100 mine, and $100 for the other two (I'll leave you to speculate who the other two purchasers are
) and settlement will execute sometime in the distant future once the vendor is able to meet our condition of vacant possession 42 days before settlement. So in control of the deal for $200 all up. Anyways, this one is on the table open for comments.
I know this is a very profitable cf spinner.
