enoughhomeless
New member
Recently won an auction for a small 30y/o+ 135m^2 unit in Boxhill, Vic and feel like it was a poor decision. Unfortunately only did more detailed calculations after the euphoria of winning the auction and realised making money through property is a lot harder than it seems.
Rental yield: 3.3%
Price: $725 000
Layout: 2bed | 1 bath | 1 carpark
Estimated annual growth: 3.5%
With my calcs, it seems like it will take 5 years to just breakeven, which is a huge opportunity cost and feels crap.
How would one reduce losses in this case?
Rental yield: 3.3%
Price: $725 000
Layout: 2bed | 1 bath | 1 carpark
Estimated annual growth: 3.5%
With my calcs, it seems like it will take 5 years to just breakeven, which is a huge opportunity cost and feels crap.
How would one reduce losses in this case?