Check out the units I just purchased with 20%+ yields!

I just settled on a block of 8 flats in Tamworth for $240,000 and rents of $880pw - Crazy!

And another block of 6 for $203,600 which rent for $930pw - Crazy again!

The block of 8 is in good condition and rented as is, and the block of 6 needed paint/carpet/blinds/3 x kitchens.

I have attached some pics and video for your entertainment! :)

Just to show deals are still out there in 2012.

I will also post up some other awesome things I have purchased on relevant threads.

https://www.facebook.com/media/set/?set=a.10150763158794173.429034.820929172&type=1&l=2e389db0c8

http://www.youtube.com/watch?v=BuCKni-QUDw
 
Hey Nathan,

Very nice find!! I need to find myself something like that... Would be an awesome start.

Congrats!

What # are you up to now?

Cameron
 
Looks good nathan

What kind of deposit was required for these (%)? Were they classed as residential or commercial lending?
 
Fantastic

Wow Nathan well done again::))

Did you or your clients buy them?

As you have this Dealfinder business, how do you decide whether to put the deals out there for your clients or keep them yourself??? Just being nosy!:p
 
Hi Nathan,

It never ceases to amaze me - the deals you find.

Truly awesome.

Coupla questions:

The regions you are buying in - Tamworth, moree etc - is there population growth, and if there isnt - what would be driving the increasing rents and prices?

In smaller areas - do you ever have problems with vacancies?

Thanks,

Matto.
 
I purchased mine without the help of the banks. However I presented these to clients and they also bought in this block and featured in this months YIP magazine with the property. The terms they got were 25% deposit and 50% deposit.

As for properties I purchase, these were available and no one purchased them so I bought them off DealFinder. (There is plenty of deals across the country, and i wish I could by more but simply can't by more than its physically possible to do). :)
 
Just curious, do any of these high yielding unit blocks say under 250 or 500k ever appear on re.com or are do they never see the day of light? And are given to the big guns of the industry ?
 
Nice work. I noticed in the facebook photos there's already an intruder!

Haven't seen you post much about sydney metro purchases recently.
 

hi painter,

thanks for that, yes I was aware of those ones, its just a little too regional for me, somewhere like tamworth, which I consider quite metro, or not too regional was what I was looking for,

Was just wondering, if most of the good ones never see that day of light, which is fine, just like restaurants, the good ones are usually sold through word of mouth!!
 
Wow, hats off to you Nathan..

You seem to find great deals not once, twice but everytime.

Do you have any bad exp with prop investing i.e. got into a bad deal? I guess not based on amount of due diligence you do and team you work with

Also, you seem to pass on the deals to your clients. How does that work? i.e. do you work as a Buyers Agent in those cases

Great find, I would be happy even if I find a prop with yield of 10%

Regards,
TV
 

:eek: Having to deal with 5 different tenants for 100 bucks a week each, "when fully occupied" :(

16% sounds great until you think about how you have to earn it.

I'd also imagine in low rent situations like that, the first thing you should install is a turnstile to try and keep track of all the comings and goings.

Beyond the astounding possibilities of a 16% return, these sort of bottom end properties sound like way too much effort for me.

I prefer having long-term happy tenants, sleeping soundly every night, taking the weekends off and and being satisfied with a conservative 5%.

Boring yeah,...... but sane. :)

Cheers,
Beef.
 
Hi,

but it would come down to cash flow, in Nathan's case you would be able to move onto next one quickly as compared to what you have.

It depends on one's risk profile, goals, their expectations from property, and lot of other parameters

Regards,
TV


:eek: Having to deal with 5 different tenants for 100 bucks a week each, "when fully occupied" :(

16% sounds great until you think about how you have to earn it.

I'd also imagine in low rent situations like that, the first thing you should install is a turnstile to try and keep track of all the comings and goings.

Beyond the astounding possibilities of a 16% return, these sort of bottom end properties sound like way too much effort for me.

I prefer having long-term happy tenants, sleeping soundly every night, taking the weekends off and and being satisfied with a conservative 5%.

Boring yeah,...... but sane. :)

Cheers,
Beef.
 
:eek: Having to deal with 5 different tenants for 100 bucks a week each, "when fully occupied" :(

16% sounds great until you think about how you have to earn it.

I'd also imagine in low rent situations like that, the first thing you should install is a turnstile to try and keep track of all the comings and goings.

Beyond the astounding possibilities of a 16% return, these sort of bottom end properties sound like way too much effort for me.

Also consider that while you may be getting up to $500 per week, or $26k pa you are responsible for the mainteance of the whole complex. Theres no partial strata, you will pay a few thousand a year for insurance, R&M fund, lawn mowing, gardening etc. That $25k would quickly get whittled away.

If an investor is getting rid of a money generator like that, theres got to be something wrong with it. Roof replacement, stormwater/plumbing problems etc, thats going to be costly.
 
hi painter,

thanks for that, yes I was aware of those ones, its just a little too regional for me, somewhere like tamworth, which I consider quite metro, or not too regional was what I was looking for,

Was just wondering, if most of the good ones never see that day of light, which is fine, just like restaurants, the good ones are usually sold through word of mouth!!

there are often blocks of units in Rockhampton.

If you have plenty of equity, there was also a block available in ryde, sydney a few weeks ago. Not sure if its still available.
 
You would want 15% yield to justify the headaches and maintenance etc... not to mention the 30-40% deposit and potentially commercial interest rates... but this one was a truly great deal.

Vendor was DOH Dave so not a desperate investor in this case.
 
My total outlay for my five flats was 200k,
I was renting them all to one company for $900 a week (One tenant only),

I now split them up and rent separately.
Rents at the moment are $220 each (1100 week)

Next lot of tenants,the short term leases of two months will be $300 week and long term (6 months)$250 week,I hope to eventually take the rents up to around $500 week each as the mines around the area expand.

I cater mainly only to contractors who are working in the area.
 
About 40kms away from those ones I pointed out on RE.

I am not saying they you can achieve this same result,it all depends on how you finish them off and present them.

There is an accommodation shortage in the area and if and maybe another mine opened up nearer to those flats,you could have similar results.

I have a one month waiting list for my flats,one tenant moves out in the morning another one moves in the afternoon.

I just had one flat empty for the first time in 12 months and I quickly went down and stayed for two nights to try and spot any maintenance issues and I noticed the A/Cs were noisy so I immediately pulled the two year old window ones out and got Daikin reverse cycle split systems fitted. Everything else was like brand new,so I haven't had any problems since the reno two years ago.
 
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