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

[Truly Exotic]

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.

sounds great, well done,

5 flats for $200k sounds awesome, was this a recent purchase or years ago,

I know corporate and mining leases are much higher but that is still awesome return

those wee waa ones have been sale for ages, but CG and rental vacancy was my prime concerns when I looked at them

 

[Pa1nter]

sounds great, well done,

5 flats for $200k sounds awesome, was this a recent purchase or years ago,

I know corporate and mining leases are much higher but that is still awesome return

those wee waa ones have been sale for ages, but CG and rental vacancy was my prime concerns when I looked at them

Two years ago were my purchase,
Capital gain for me was huge with valuation coming in 200K+ over purchase price after the three week reno.
I did look at the wee waa ones recently but I never put all my eggs in one basket.They were sold 2011 for $105K and look like they need a good reno.They haven't even got any floor coverings,its just painted timber ,no wonder they cant rent them out and that's after new ownership.

 

[Truly Exotic]

Two years ago were my purchase,
Capital gain for me was huge with valuation coming in 200K+ over purchase price after the three week reno.
I did look at the wee waa ones recently but I never put all my eggs in one basket.They were sold 2011 for $105K and look like they need a good reno.They haven't even got any floor coverings,its just painted timber ,no wonder they cant rent them out and that's after new ownership.

well done, admittedly, I found the wee waa units probably a bit too regional for my liking hence I didnt pursue,

I would have thought being a regional town, and that the painted timber would be fine for a rental???

 

[Pa1nter]

I would have thought being a regional town, and that the painted timber would be fine for a rental???

I wouldn't feel comfortable staying there so why would anyone else want to.?
Maybe $80 a week for those flats as they are.

 

[ugotadollar4me]

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.

You would be surprised on commercial interest rates, people think 8 - 9% but commercial rates are out there for less than residential rates and a lot around 6%, just depends on the banks and broker you go to

 

[ugotadollar4me]

Personaly I would prefer a better location, pay a little more and get 10% return and bigger capital gains down the track.


http://www.realestate.com.au/property-unitblock-qld-burleigh+heads-109722011

$1,000,000 10% return cheap

http://www.realcommercial.com.au/property-industrial+warehouse-qld--500287737

$730,000 10% return, cheap purchase price

http://www.homehound.com.au/1+2+and+3+leonard+avenue+18+surfers+paradise+qld+4217/

Sold $545,000 in surfers paradise, 3 x 2 bed, $180,000 each bargain

 

[wobbycarly]

Personaly I would prefer a better location, pay a little more and get 10% return and bigger capital gains down the track.


http://www.realestate.com.au/property-unitblock-qld-burleigh+heads-109722011

$1,000,000 10% return cheap

Under contract

http://www.realcommercial.com.au/property-industrial+warehouse-qld--500287737

$730,000 10% return, cheap purchase price

http://www.homehound.com.au/1+2+and+3+leonard+avenue+18+surfers+paradise+qld+4217/

Sold $545,000 in surfers paradise, 3 x 2 bed, $180,000 each bargain

Property removed (?)

Looks like posting links on Somersoft gets results!

 

[ugotadollar4me]

Under contract

Property removed (?)

Looks like posting links on Somersoft gets results!

Quick examples of commercial in a better suburb returning decent $$
Had a look at all of the above and all showed good value for money, that is why there sold under contract.
I would buy any of the above over the others located in the jungle.