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How’s this $69,000 property for an investment quickie?

first_imgThe property is a studio in a motel.Gross rental yield was almost 11 per cent (10.8 per cent) in a complex that also has a pool and spa.It touts itself as “hassle free” income but, as any smart investor would do, ask lots of questions before jumping in.Online mortgage comparison site, Mortgage Choice, warns “gross rental yields did not take into account any expenses associated with keeping the property”. “If you’re just looking at gross rental yield, then there’s really no such thing as a ‘good’ rental yield as the costs and expenses are missing from the calculation. “A property with a low rental yield but also low expenses could end up giving a higher rental return, than a property with high rental yield and high expenses.” There is a distinct retro feel. The complex has a pool for guests. More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoA log cabin in Brisbane’s east. 25/158 Green Camp Road, Wakerley Qld 4154. Picture: Realestate.com.auHOW’S this for an investment quickie? A $69,000 property half an hour from Brisbane’s CBD has a gross rental yield of 10 per cent.The one bedroom, one bathroom property is a top floor studio with a balcony in a motel complex at Wakerley in Brisbane’s east.The property at 25/158 Green Camp Road was being marketed as a “unique investment opportunity” by Johnson Real Estate – Wynnum Manly.“The motel returns $621.88 per month with CPI increases and a body corporate fee of $2,584.89 per year” and comes with a five year lease, according to the listing.last_img read more