Cash Cows

if you held every property you brought would you have over 1,000 ?

 

lol. Hell no

 

500 ?

 

Gold Coast?

 

Has anyone done a granny flat in Logan area?

 

400 to 500k

 

I’d say $20m

 

A lot of cash cow options in Brisbane dual occ. They rent for over 6% gross yield.

 

there is a thread on this product, problem is if you need to sell
6% gross is not attractive imo and you are going backwards if the product is a lemon

 

For me to consider this a cash cow it would have to be at least 10% net

 

It is quite hard (almost impossible) to find residential properties with 10% yield.

 

8%?? Perhaps in Perth a mortgagee sale/distressed sale

 

I got my residential properties from 5% to 10% by meeting the market at a time before air Bnb when demand for good quality furnished short term rentals was unmet in Sydney.

I lived in 5 cities in Europe and Asia and was easy to find a furnished serviced room for very cheap

In Sydney it didn’t exist so I offered short term by the room or studio fully furnished and with crockery fridge etc etc

My terrace rent rose from 350pw to 800pw and my Darlinghurst studios from 200pw to 450pw- thanks craigslist and gumtree — always to foreigners on student visa or working skilled visa.

 

So your net yield went from 4% to 18% ?

 

If you build it, they will come.

 

Just recently completed a slab on ground brick veneer GF for a client cost $120k 2 Bed 2 Baths. He is now renting the rooms separetly achieving $360 per week in Marsden. Just to give you an idea.

 

Our Granny Flats in Goulburn are getting $300 per week... Houses are getting $500, minus 20% for NRAS. Combined net cash flow will be in excess of 23K per annum at current interest rates

 

Hilarious avatar

 

Couple more cash cows almost done. Tenants already lined up....

 

where’s that if you don’t mind me asking?