INTEREST RATES HAVE FALLEN. RENTAL RETURNS HAVE INCREASED. HOW DOES IT LOOK FOR INVESTING?
Answer: as our example below shows it is now possible to purchase a $500,000 investment property, with no cash input up front, for $143 per week.
Purchase Costs: (assumed NSW property purchased in an personal name)
Purchase Price $500,000
Stamp Duty $17,990
Transfer Fees $184
Registration Fees $92
Lender Set Up Fees $600
Legal Fees $2,200
Total Purchase Cost $521,066
Gross Rental Income (assume $500 per week)
Rent (per year) +$26,000
Less On-going Costs (per year)
Management Fee $1,700
Strata Levies $2,100
Council Rates $1,200
Water Rates $500
Repairs $1,500
Total on-going costs -$7,000
Less Interest Payments (Total Purchase Costs at current interest rate of 5.07%)
Interest (per year) -$26,418
Net Cost (Rental income – On-going costs – Interest)
Net Cost (per year) $7,418
Net Cost (per week) $142.66
Contact us on 02 9449 2333 or at loans@planassist.com.au to have us to update your current borrowing capacity. We can evaluate your present situation and look at how to help you move forward.
Our integrated service means we can locate a property for you, find your finance and help you complete the transaction.
All with only minimum active input from yourself!!
