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