IT'S HECTIC AND IT'S GETTING INTERESTING
May was a near record month for listings and they're flying out the door SOLD!
But the leasehold situation is getting really interesting.
If you haven’t seen my short “WHY LEASEHOLD?” clip under VIDEO GALLERY have a look – it’s all coming true.
(Yeah, my theories just take time).
This will be sold by the time you read the June COMMENT ……..(and thanks for reading!) …………but I featured on my Leighton Smith talkback show today (click on the Radio Archive under COMMENT, …“Viaduct Cheapie” 14.6.12)….. a glamorous leasehold studio, generous 35m2, furnished + whiteware and balcony over the square, outgoings including Ground Rent, Body Corp and Rates currently $7,000 p.a. and rent $360/week and heading north ($18,720 p.a.)….i.e. nett $11,720……..and suggested “Try $95,000!”.
If we sell it today for say $96,000 that represents a 12.2% nett return meaning if you borrowed ALL the money at current 5.9% interest ($5,664 p.a.) you would pocket $6,115 or about $120/week to start paying the suite off.
Yeah there’s tax and stuff but is this an opportunity??!!!
And yes, the overheads will rise but so will the rents.
Kind of Real Estate for free?
Yes, you already know the byline…
It’s a BEAUTIFUL Winter and we like it hectic.