I posted this somewhere else but thought it might be better in its own topic
We are going to have to come to terms with the reality non cashflow properties as we return to NZ! But we are moving back for the lifestyle not the money!
I thought some of you might find the deals we have made in the US over the last 2 years interesting.
For example in the US our latest purchase was a Double in Downtown Indianapolis (2 minutes walk from the city center) that we bought for $185,000USD. We are now renting this out at $600USD per week and have a positive cashflow of $1200USD a month. And on top of that we paid a low price for this property because it had no section. But we have since managed to purchase the adjacent lot for $20,000USD. At a low estimate this property is now valued at $300,000+
Another double we bought for $145,000, increased the rent to $400 per week cashflow of roughly $900 a month and then sold the property for $209,000
Another double we just sold was bought for $155,000 we increased the rents to $500 a week Cashflow of roughly $1000 a month. Then we sold at $218,000 within 3 months
We also purchased a bank forclosed single family cottage downtown in the most expensive area for $70,000 now the return on this was only $200 cashflow a month not that great but we just sold this property for $140,000 within a year and did almost nothing to it!
Considering I came to the US 3 years ago with a suitcase and 10,000NZD, If you do the numbers, we feel we have made a good return on our investment! We couldn't have done it without the help of the US government and their willingness to loan anyone money at low rates!
If anyone would like to know more about our US experiences let me know.
We are going to have to come to terms with the reality non cashflow properties as we return to NZ! But we are moving back for the lifestyle not the money!
I thought some of you might find the deals we have made in the US over the last 2 years interesting.
For example in the US our latest purchase was a Double in Downtown Indianapolis (2 minutes walk from the city center) that we bought for $185,000USD. We are now renting this out at $600USD per week and have a positive cashflow of $1200USD a month. And on top of that we paid a low price for this property because it had no section. But we have since managed to purchase the adjacent lot for $20,000USD. At a low estimate this property is now valued at $300,000+
Another double we bought for $145,000, increased the rent to $400 per week cashflow of roughly $900 a month and then sold the property for $209,000
Another double we just sold was bought for $155,000 we increased the rents to $500 a week Cashflow of roughly $1000 a month. Then we sold at $218,000 within 3 months
We also purchased a bank forclosed single family cottage downtown in the most expensive area for $70,000 now the return on this was only $200 cashflow a month not that great but we just sold this property for $140,000 within a year and did almost nothing to it!
Considering I came to the US 3 years ago with a suitcase and 10,000NZD, If you do the numbers, we feel we have made a good return on our investment! We couldn't have done it without the help of the US government and their willingness to loan anyone money at low rates!
If anyone would like to know more about our US experiences let me know.
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