After stamp duty and costs .. who is happy with a 4% gross return ?(= a 2% net return after rates, management fees, repairs and a myriad of replacement items and maintenance costs )... for a Melbourne residential property.
Remember - we're borrowing at 7.5% .. for a 2% net return -
NO THANK YOU ! .. that's a 5.5% LOSS !!!
So instead of losing 5.5% ..my money is happily earning 6% in the bank !!!
So I'm 11.5% better off (+ 6% instead of -5.5%).
YES PLEASE !!!!!!!!!!!!!!!!!!!!!!!
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- property ? - no thank you !.
After stamp duty and costs .. who is happy with a 4% gross...
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