I am just finishing a 4x2x3 in Madora Bay and last July I also finished building 4x2x3 in Lakelands.
The Lakelands property rented out in days after completion and still has the same tenant in it. Total cost to build 391k Total borrowed 370k Rent 390wk After agency fees - rates plus depreciation this investment is costing me diddly squat.
Lakelands currently has only 3 rentals available
Madora Bay has only 1 rental available
The rental market in Perth is extremely tight and further immigration from interstate and overseas will easily push rents way above what they currently are.
This will make the Lakelands property positive geared.
As rents rise so will property prices and I win with a healthy capital gain.
