My property journey – Mackay Strata Titling

The Returns
The valuation came in at $560,000, smack bang in the middle of the forecast. Previous valuation was at $450,000, so I know have $135,000 of equity in the properties ( loan is currently at $425,000)
The refinance options have been looked at and we are able to secure a 90% LVR loan. Net result is that I am able to take around $80k to make further investments.
The costs
The costs of the strata titling was in the $15k mark. It was upped significantly by the need for a firewall which threw in an additional $10k.
Ongoing costs are:
- additional fees for body corporate insurance – approx $1000 p.a.
- Additional rates – approx $1000 p.a
- Additional admin costs for body corporate – approx $500 p.a.
So, you need to make sure you invest the released equity well to leverage the funds effectively
About Mark Taylor….
Mark Taylor is the Founder and Director of Keys To Success Club. A property investor in his own right, Mark helps other people succeed in property investment by connecting them to property experts through Keys To Success Club.
My property journey – Mackay Strata Titling
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