Originally posted by Rosco
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On Trademe, 4 to rent in Tokoroa!
But also 120 for sale.
An example of one for sale.
Units, and agent saying 10% Gross Yield - which sounds good but obviously based on 52 weeks.
7 owners since 2004, plus currently on the market! Gives you an idea of what investors have thought once they actually own it!
Here would be my workings on cashflow
So in my opinion factoring in vacancy and fair expenses, it would be losing cash!
But also 120 for sale.
An example of one for sale.
Units, and agent saying 10% Gross Yield - which sounds good but obviously based on 52 weeks.
7 owners since 2004, plus currently on the market! Gives you an idea of what investors have thought once they actually own it!
Here would be my workings on cashflow
Income: | ||||||||
Rent - | Weeks | 46 | 22080 | |||||
Per week | 160 | 3 units | ||||||
As a % of total house | 8.83% | |||||||
Less Expenses: | ||||||||
Accounting | 1200 | |||||||
Bank fees | 50 | |||||||
Body Corporate | 0 | If interest goes up | ||||||
Insurance | 1500 | |||||||
Interest | Rate | 5.00% | 12,500 | 7.50% | $18,750.00 | |||
Property Management at 7.5% plus GST | 1,904 | |||||||
Rates | 4779 | |||||||
Repairs and Maintenance | 2000 | |||||||
Seminars | ||||||||
Subscriptions | ||||||||
Travel | 500 | |||||||
Total Expenses | 24433.40 | $30,683.40 | ||||||
NET CASH SURPLUS (DEFICIT) | -2353.40 | -$8,603.40 |
So in my opinion factoring in vacancy and fair expenses, it would be losing cash!
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