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With a pre-tax cashflow positive and a BRAND NEW property in Auckland, I would be interested to know WHAT can go wrong with this deal: (copied & pasted from the website)
Property Details:
This is exceptional buying, being a BRAND NEW home and income property secured for $485,000 with a registered valuation of $570,000 PLUS its CASHFLOW POSITIVE!
The property comprises a spacious brand new 4 bedroom residential dwelling, being externally constructed of brick veneer walls with linear weather board inserts on some walls and a double internal access garage, with external improvements being a concrete paved area. The dwelling sits on a 624m2 section situated in a quiet street in Swanson, West Auckland. Located adjacent to the main dwelling is a brand new one level 2 bedroom residential minor dwelling, being constructed in weatherboard cladding with a concrete tiled roof. Both dwellings enjoy east and westerly urban/rural views.
The grounds are landscaped and are very well thought out with very good vehicle access with ample concreted areas and pathways. Very good returns on both dwellings as they are currently rented at $450 for the 4 bedroom home and $280 per week for the 2 bedroom minor dwelling (about to be increased to $300/wk). This would give a total of $750/wk for the total investment. Close to good schools with bus and train services nearby. Huge returns here because of the very clever use of the section to accommodate both a 4 bedroom and 2 bedroom dwelling. Both dwellings are carpeted with tiled entrance way, kitchens and bathroom areas. Main bedroom in the 4 bedroom dwelling has an en-suite. Overall both dwellings have been finished to a very high standard of workmanship and there is nothing left to do here as they are brand new.
Location:
The location is a popular established area with most homes being of a very good standard. Close to very good schools, shops and local transport. Special note is the train station which is only 2 minutes from the property which gives easy access to Auckland city.
Property Value:
This investment has a high financial return because of the very unique situation of having a 4 bedroom main dwelling and a 2 bedroom minor dwelling on the same section. The developer has really thought this project out properly and we have not seen such a fantastic opportunity in the property market today, to purchase an investment which gives such a large return (and cashflow positive) and of course is brand new, which means no maintenance. This investment also spreads your risk as you have 2 tenancies in the one investment.
Summary:
Purchase price: $485,000 via double settlement
Registered valuation: $570,000
Deposit: 45,000
Rental: $450 (4 bedroom) plus $300 (2 bedroom) = Total $750 per week
Gross yield: 8.0%
So this investment potentially looks like this:
• 15% below valuation
• 8.0% return
• CASHFLOW POSITIVE PRE TAX BY ALMOST $5,000pa!
• Huge financial returns with 2 dwellings on the same section.
• Risk is spread over 2 dwellings on the 1 title.
• Located in a very quiet part of Swanson and close to all amenities.
Very unique investment with 2 dwellings on the one section. This investment has had all the hard work completed for you and will always be profitable for an astute investor. Very good financial security.
Property Details:
This is exceptional buying, being a BRAND NEW home and income property secured for $485,000 with a registered valuation of $570,000 PLUS its CASHFLOW POSITIVE!
The property comprises a spacious brand new 4 bedroom residential dwelling, being externally constructed of brick veneer walls with linear weather board inserts on some walls and a double internal access garage, with external improvements being a concrete paved area. The dwelling sits on a 624m2 section situated in a quiet street in Swanson, West Auckland. Located adjacent to the main dwelling is a brand new one level 2 bedroom residential minor dwelling, being constructed in weatherboard cladding with a concrete tiled roof. Both dwellings enjoy east and westerly urban/rural views.
The grounds are landscaped and are very well thought out with very good vehicle access with ample concreted areas and pathways. Very good returns on both dwellings as they are currently rented at $450 for the 4 bedroom home and $280 per week for the 2 bedroom minor dwelling (about to be increased to $300/wk). This would give a total of $750/wk for the total investment. Close to good schools with bus and train services nearby. Huge returns here because of the very clever use of the section to accommodate both a 4 bedroom and 2 bedroom dwelling. Both dwellings are carpeted with tiled entrance way, kitchens and bathroom areas. Main bedroom in the 4 bedroom dwelling has an en-suite. Overall both dwellings have been finished to a very high standard of workmanship and there is nothing left to do here as they are brand new.
Location:
The location is a popular established area with most homes being of a very good standard. Close to very good schools, shops and local transport. Special note is the train station which is only 2 minutes from the property which gives easy access to Auckland city.
Property Value:
This investment has a high financial return because of the very unique situation of having a 4 bedroom main dwelling and a 2 bedroom minor dwelling on the same section. The developer has really thought this project out properly and we have not seen such a fantastic opportunity in the property market today, to purchase an investment which gives such a large return (and cashflow positive) and of course is brand new, which means no maintenance. This investment also spreads your risk as you have 2 tenancies in the one investment.
Summary:
Purchase price: $485,000 via double settlement
Registered valuation: $570,000
Deposit: 45,000
Rental: $450 (4 bedroom) plus $300 (2 bedroom) = Total $750 per week
Gross yield: 8.0%
So this investment potentially looks like this:
• 15% below valuation
• 8.0% return
• CASHFLOW POSITIVE PRE TAX BY ALMOST $5,000pa!
• Huge financial returns with 2 dwellings on the same section.
• Risk is spread over 2 dwellings on the 1 title.
• Located in a very quiet part of Swanson and close to all amenities.
Very unique investment with 2 dwellings on the one section. This investment has had all the hard work completed for you and will always be profitable for an astute investor. Very good financial security.
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