CASH FLOW POSITIVE AND NO MONEY DOWN

Listing Number:  1283
Posting Date:  14 November 2008






 
Price:$170,000
Listing:CASH FLOW POSITIVE AND NO MONEY DOWN
Type:House
Category:Assignment
Bedrooms:3
Bathrooms:1
Region:Waikato
Site Area:90 m2
Address: Login
Building Area:1 3 Share in 2190 m2
Property Image

Description:

Rarely do opportunities such as this become available - cash flow positive from day one and no money down. The vendor has agreed to a vendor loan of $60,000 with no repayments for four years! That means on a loan of $110,000 for four years the yeild is 12.76%. Even when you repay the vendor loan after four years (at 0% interest) and assuming the rental only increases to $300 per week the yeild will be 9.18%.

There is also the opportunity to put a tenant buyer in and at a weekly payment of $400 per week the yeild would be an incredible 18.91%. We have placed four tenant buyers in the Waikato area in the last 6 weeks and could easily find you a tenant buyer for this home.

The home is a tidy 3 bedroom hardiplank construction with a double length versatile garage. The house was built in the early 1990's and is in good condition. Russell Ave in on the Hamilton side of Ngaruawahia and very close to the Te Rapa industrial area. This means a good pool of tenants and potential tenant buyers. The home is also 300 metres from a primary school.

The market value of the home is around $180,000 - $190,000 in current condition. There is plenty of scope to add value - a good start would be to trim the trees on the front lawn. A quick repaint of the internal walls would also make a huge difference.

The Numbers
Purchase Price: $170,000 (plus $5,625 Assignment Fee)
Vendor loan: $60,000 (four years interest free)
Deposit: $0
Unconditional Date: 25/11/08
Settlement Date: 17/12/08

Give me a call on this one as this will go quickly

Tony
021 499 809