What benefit is there in buying this?

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

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  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    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

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    I don't believe a well informed investor would buy that.
     
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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    You would be surprised what people buy.

    Perhaps they may be thinking it will grow in value.
     
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  4. hammer

    hammer Well-Known Member

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    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

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    For the sick leave?
     
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  6. Scott No Mates

    Scott No Mates Well-Known Member

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  7. Cactus

    Cactus Well-Known Member

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    +1 This!
     
  8. Mick Butterfield

    Mick Butterfield Well-Known Member

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    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

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    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

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    Sshhhhhhhhhhh
     
  11. Ouga

    Ouga Well-Known Member

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    Do you have a link?
     
  12. datto

    datto Well-Known Member

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    Well, one benefit that sticks out is that the agent gets a commission out of the sale.
     
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  13. sash

    sash Well-Known Member

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    'ang on guv...are you sure that you have not confused benefit that sticks out with friend with benefits?
     
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  14. JDP1

    JDP1 Well-Known Member

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    Also retirement (investment wont be the main driver)..ie retirees who want a tree change.
     
  15. Rich2011

    Rich2011 Well-Known Member

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    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...
     
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  16. JDP1

    JDP1 Well-Known Member

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    Yeah, noy a uniy like that but area.
     
  17. eskander

    eskander Well-Known Member

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  18. hash_investor

    hash_investor Well-Known Member

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    Care to elaborate?
     
  19. Angel

    Angel Well-Known Member

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    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

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    I think the OP has been talking about Moree for a while.
     
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