G'day all,
Looking to buy a unit from a friend in Mildura. Unit is a 2br, in a complex of 4, single story, fairly close to everything. Looks in fairly decent condition, don't need to spend money on anything. I'm getting a discount, as its from a friend and has not advertised it yet. He's after $80-$85K with a tenant and renting at $135 at the moment.
What do you think? Rates are just under 1000/yr, water is about 650/yr, cant remember body corp but it was pretty reasonable (<$1000/yr). From what I can gather I reckon I can get rent to $150-160 pretty easy in comparing others that are on the market now. Cheapest 2br I can see on the market is $99K for what would seem pretty comparable unit.
This means c/f+ for me pretty close to the start, and will be a nice little earner without expecting much CG.
What does everyone think of this sort of purchase? Any risks I should be thinking about as a regional purchase??????
Looking to buy a unit from a friend in Mildura. Unit is a 2br, in a complex of 4, single story, fairly close to everything. Looks in fairly decent condition, don't need to spend money on anything. I'm getting a discount, as its from a friend and has not advertised it yet. He's after $80-$85K with a tenant and renting at $135 at the moment.
What do you think? Rates are just under 1000/yr, water is about 650/yr, cant remember body corp but it was pretty reasonable (<$1000/yr). From what I can gather I reckon I can get rent to $150-160 pretty easy in comparing others that are on the market now. Cheapest 2br I can see on the market is $99K for what would seem pretty comparable unit.
This means c/f+ for me pretty close to the start, and will be a nice little earner without expecting much CG.
What does everyone think of this sort of purchase? Any risks I should be thinking about as a regional purchase??????
Looking to buy....what do you think?
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