Everyone thinks I'm a property tycoon, yet I feel like a failure

I now know your name... and email!

I can edit the numbers and make your a billionaire... in number only.
What's the two Rockhamptom property costing you per year without the once off costs?

 

Lucky you!
Would you mind please clicking on the new link and confirming that this is no longer the case?

To be honest, I'm not entirely sure, I'd say around the $15k mark combined. Depends on whether they're rented obviously. I've had three different PMs up there over the years and unfortunately none have been all that good. Might change agents again and hope for a better outcome.

 

When I clicked, your name and email were not apparent.

Cheers,
Inertia.

 

All good, the account I see is different now

Quick calculation - I'm assuming a lot of things, for R1



Selling the other rockhampton migth not give much relief in cashflow, thought less - when sold?

 

Thanks for that. Your assumptions aren't too far off the mark. Insurance is a bit more, maintenance is a fair bit more.
Really though, I would personally change the "years to recoup" calculation. I'd put a 4% cost on the "net position" cost.

Looks pretty much like my assessment, damned if I do, damned if I don't. Glad I've got the other IPs to at least (more than) balance the capital losses!

 

I haven't looked too closely at your properties but just thinking outside the square.
What if you were to sell property 1 central coast realising $160k (minus tax selling costs) then being able to sell the Rockhampton properties using those losses to offset the CG.

This would (In theory) increase your savings, help with cashflow and help to ease the pressure.

I don't know the Central Coast market if it'll keep going up or not but I believe there's already been some good growth?

 

Something that many investors forget, or just don't worry about is keeping your rents at market rates. This can make a huge difference, especially as the portfolio gets bigger, even small increases can add up. Remember with 10 properties (12 doors, all up, by the looks of it), all you've got to do is increase them $5 pw each & you've just given yourself a $60pw payrise, minus management, of course. Looking at your portfolio, based on some of those rental figures, it looks like there's some improvement that you may be able to make.

You've got one with a house & gf that's getting $425pw. That seems kind of low to me. Of course, I'm not familiar with the area at all, but even in the cheapest areas you should be able to get at lease $200-300pw for a gf. Also, look at those semi's in Elizabeth. I've got a couple there that get $230pw each. One of yours is getting $230, one $220 & a pair of them @ $420, which is effectively $210pw each. If you can push them all up to $230pw, there's another $50pw just in those alone.

 

Maybe look at selling one of the Rockhampton properties and take the ten grand hit, since it looks like it’s costing you a lot each year???

As someone who foolishly invested in darwin near the peak, I feel your pain of holding onto properly that is no longer worth what you paid for it. Except for the two Rocky places though overall you seem to have a pretty good portfolio imho.