These are on my watch list (PPOR - I want to live here so investment logic doesnt really apply)...
Excuse me whilst I play the newbie optimistic property investor and make some stupid assumptions...
Here is a deal that seems pretty good;
http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2004534447#
3bed 2bath 2LUG $509K
The unit is currently rented for $560/wk
The carspaces are not incl in the lease agreement - they are worth ~$50/wk each
You do some research, the rents look to be at market rates...
Ohhhh the owner wants a quick sale...
Lets crunch some numbers...
Im sure we can get it for $500K - thats a gross yield of 6.9%
In the SYD CBD!!!
Give me 10 of 'em...
3months later - oh %*&# the strata fees are HOW much? What are all these rumors about fire safety and illegal occupancy? No I dont know anything about Regis towers...
(Jumps out of window)
Now I know about Regis towers, I even know it is at 398 Pitt St - still took me 5mins to work out this was the same building (they advertised a different st no. - which Im sure is still correct the block is probably 398-414 Pitt St)
Dont make uninformed decisions =)
PS Im not going to by a Syd CBD apartment tomorrow just watching, no need to come around and slap some sense into me =)
Excuse me whilst I play the newbie optimistic property investor and make some stupid assumptions...
Here is a deal that seems pretty good;
http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2004534447#
3bed 2bath 2LUG $509K
The unit is currently rented for $560/wk
The carspaces are not incl in the lease agreement - they are worth ~$50/wk each
You do some research, the rents look to be at market rates...
Ohhhh the owner wants a quick sale...
Lets crunch some numbers...
Im sure we can get it for $500K - thats a gross yield of 6.9%
In the SYD CBD!!!
Give me 10 of 'em...
3months later - oh %*&# the strata fees are HOW much? What are all these rumors about fire safety and illegal occupancy? No I dont know anything about Regis towers...
(Jumps out of window)
Now I know about Regis towers, I even know it is at 398 Pitt St - still took me 5mins to work out this was the same building (they advertised a different st no. - which Im sure is still correct the block is probably 398-414 Pitt St)
Dont make uninformed decisions =)
PS Im not going to by a Syd CBD apartment tomorrow just watching, no need to come around and slap some sense into me =)