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Landlords are Leaches, page-807

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Tarvold

19,708 Posts.

1215

07/05/24

22:05

Post #: 73713495
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Originally posted by nursery: ↑

I live in a duplex. It is waterfront. The owner of the other unit is a real bastard and a lot of a problem. I was offered the chance of buying his unit as he now has it for sale. Price $980,000.. It is rented for $700 week. Rates are $2,700 and insurance $2,200. Without allowing for maintenance, it would return
$31,500 pa. If I borrowed to buy it, I would lose around $20,000 per year.

On these prices I should sell mine and lease it back and save the Rates and insurance and be many thousands better off. It looks like it is the tenants that are the leaches.

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Rates $2,700 & insurance $2 200, do you live in Cairns?
No one makes any money in rentals in Cairns with financing unless it's AirbnB.
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