Hey Folks
Here's some numbers for you to poke & prod.
I have a mate who has offered his rental to me to buy. (private deal)
Asking 160k
Rented out at 145 /wk (cheap I know)
In a good area of town
2 dbl bedrooms 1950's brick with single garage & w/s
In good cond, low maintenance but kitchen bathroom & wash house probably needs morderniseing at some stage.
Excellent tenant, who's been there 5yrs, & will probably stay there for the rest of her life.
I need to borrow 110k & will have to prop it up
My total exps to service the loan & pay rates insurance etc work out to $250.00 / week
I know he's probably going to get 180k for it if he put's it on the market!
crazy huh? but this is the way it is in my neck of the woods.
Cheers
Here's some numbers for you to poke & prod.
I have a mate who has offered his rental to me to buy. (private deal)
Asking 160k
Rented out at 145 /wk (cheap I know)
In a good area of town
2 dbl bedrooms 1950's brick with single garage & w/s
In good cond, low maintenance but kitchen bathroom & wash house probably needs morderniseing at some stage.
Excellent tenant, who's been there 5yrs, & will probably stay there for the rest of her life.
I need to borrow 110k & will have to prop it up
My total exps to service the loan & pay rates insurance etc work out to $250.00 / week
I know he's probably going to get 180k for it if he put's it on the market!
crazy huh? but this is the way it is in my neck of the woods.
Cheers
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