Join Australia's most dynamic and respected property investment community

What benefit is there in buying this?

Discussion in 'General Property Chat' started by Darlinghurst Boy, 20th Apr, 2016.

Tags:
  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    866
    Location:
    Darlinghurst Sydney
    So what is the benefit in buying this, could it be taxation reasons ?

    2 bedroom unit townhouse ... Moree NSW $139,000

    Rent $155 per week

    Then you have agent fees , Strata, Council Rates, water, etc

    So with the low rental income you make not very much after expenses ... So what reason do investors buy units such as this ?
     
  2. Nick Valsamis

    Nick Valsamis Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    504
    Location:
    Sydney
    I don't believe a well informed investor would buy that.
     
    Chillingout and Terry_w like this.
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,970
    Location:
    Sydney
    You would be surprised what people buy.

    Perhaps they may be thinking it will grow in value.
     
    Frazz and Leo2413 like this.
  4. hammer

    hammer Well-Known Member

    Joined:
    28th Aug, 2015
    Posts:
    410
    Location:
    Darwin
    A lot and I mean a LOT of people don't factor in Strata costs.

    Take those pesky things out and to a lot of people it can seem a wonderful investment.
     
  5. Ed Barton

    Ed Barton Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,118
    Location:
    Brisbane
    For the sick leave?
     
    Special order, Foxdan, JDP1 and 2 others like this.
  6. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,545
    Location:
    Sydney or NSW or Australia
    • Job search allowance
    • Rental assistance allowance
    • Disability support allowance
    • Emergency accommodation allowance
    • Remote area allowance
     
  7. Cactus

    Cactus Well-Known Member

    Joined:
    18th Jan, 2016
    Posts:
    986
    Location:
    Melbourne
    +1 This!
     
  8. Mick Butterfield

    Mick Butterfield Well-Known Member

    Joined:
    15th Jan, 2016
    Posts:
    408
    Location:
    Bermagui NSW
    Lives in Moree for a bit a few tears back. Bought, reno and sold (at a small profit) and would no buy there again. There were lots of sensitive 'political' issues that were quite restricve in terms of the town moving forward. That being said though there is a lot of money around those parts.
     
  9. joel

    joel Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    783
    Location:
    Adelaide
    There are HUGE benefits to buying properties JUST like that! But its a secret and you wont find out til after you buy ;)
     
  10. teetotal

    teetotal Well-Known Member

    Joined:
    7th Nov, 2015
    Posts:
    398
    Location:
    Sydney
    Sshhhhhhhhhhh
     
  11. Ouga

    Ouga Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    372
    Location:
    "Trying is the first step towards failure" Homer
    Do you have a link?
     
  12. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,390
    Location:
    Mt Druuiitt
    Well, one benefit that sticks out is that the agent gets a commission out of the sale.
     
    Gingin likes this.
  13. sash

    sash Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,214
    Location:
    Sydney
    'ang on guv...are you sure that you have not confused benefit that sticks out with friend with benefits?
     
    datto likes this.
  14. JDP1

    JDP1 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    2,838
    Location:
    Brisbane
    Also retirement (investment wont be the main driver)..ie retirees who want a tree change.
     
  15. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

    Joined:
    9th Aug, 2015
    Posts:
    471
    Location:
    Loganholme, Brisbane
    I'm from Moree, I dont think retirees are going to Moree for a tree change in a 2 bedroom unit townhouse for $139,000. It must be in an average to below average area and def not desirable. You can buy houses in Moree from mid 1's in a half decent area. Have friends that have an old PPOR and an IP and cant sell either for the same as what they paid 10-15 years ago. The market is slow there unless its in Greenbah where the wealthy buy PPOR's.

    I am surprised at the rent for $155 a week, either the rent is understated or the asking price is way to high...
     
    blackrocky likes this.
  16. JDP1

    JDP1 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    2,838
    Location:
    Brisbane
    Yeah, noy a uniy like that but area.
     
  17. eskander

    eskander Well-Known Member

    Joined:
    31st Dec, 2015
    Posts:
    75
    Location:
    NSW » Central Coast
  18. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    912
    Location:
    Sydney / Canberra
    Care to elaborate?
     
  19. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,280
    Location:
    Paradise, Brisbane
    JD, you need trees before you can get retirees to go for a tree change. I think Moree is in a desert.
     
  20. jins13

    jins13 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    939
    Location:
    Sydney
    I think the OP has been talking about Moree for a while.
     
    eskander likes this.