Hello tech/a
Did you settle on that esplanade property yet ?
What yield do you expect to get as a rental ?
hello,
the global house price crash forum is up and running again
must of got funds from one of the mortgage brokers that advertise on the site
thankyou
robots
went to a few auctions in my area, all is going well, clearance rates will be down on the last few due to the massive increase in property for sale
Seems in my home town of the Gold Coast even the top end realestate is getting awesome 2pc rental returns.
But wait, theres more.
Just for numbercruncher, the Gold Coast
And who could forget that Dud, Rockhampton.
Property never go'es up
Yeah right
Yes i did consider your possibility, I also considered that the owner of that house could of paid alot more than 5m as well, just do some research on what Hedges ave sells for, its probably more like 10m - plonked in a bank acount would return 700k a year instead of 100, but like ive said before I love you realestate investor dudes, you rock !! We have a relationship that seems to keep both parties happy. We get to move when we are tired of the view, you get 2 to 3pc returns year after year.
Nice one Davo,
Perhaps you should sit on that fishing shack for 30 years, might get the same return somewhere around 5 Billion dollars for it ??
Say he did buy it for $5 million, he would have only had to cough up $1 million to purchase and if it is worth $10 million now, he get's $9 million.
Not bad
Yes he still has holding cost's, but on the original $1 million which = $1471/week in interest
He get's $2000/week in rent
How can that be
Dave
Tech/a your little pyramid scheme only holds up whilst youve got buyers willing to pay more than the previous buyers.
As an owner occupier you pretty much need 10pc p/a capital gains for break even.
And as im sure you are aware residental home construction is pretty much in recession showing your little pyramid scheme isnt holding up so well.
Yes i did consider your possibility, I also considered that the owner of that house could of paid alot more than 5m as well, just do some research on what Hedges ave sells for, its probably more like 10m - plonked in a bank acount would return 700k a year instead of 100, but like ive said before I love you realestate investor dudes, you rock !! We have a relationship that seems to keep both parties happy. We get to move when we are tired of the view, you get 2 to 3pc returns year after year.
True but do you really want to live in a galvanised iron shed 100ks from a major city?---Would you rent it?! No?--So why would you buy there?Once Australia is looking like running out of land, let me know, i might jump back in then.
No use getting upset though now is there ?
Have a nice day
Bold assumption@!
Lets assume he bought it yesterday for 5m and hes now renting it for 2k a week - his repayments on a 30 year 100pc mortgage(using CBA standard variable) are 9,453 + rates, Insurance, maintenance.
Or maybe he paid double that at 10m ? and repays 19k a week, waiting on the massive capital gains? who knows!
Tasty!
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