2 Bedroom Villa for Sale in WILLOW VALE 32/400 Ruffles Road

32/400 Ruffles Road WILLOW VALE

UNDER CONTRACT

Located in the successful The Biggest Loser Retreat by Golden Door in Willow Vale, offering investors a very rare positive geared property with secure income source.

The Golden Door is your tenant by way of a registered lease which means it is permanently tenanted (you cannot live there yourself).

Yearly income received = $14,636.76

Less yearly expenses:
Body corporate fees = $4,063.38
Council rates = $1,770.18
Management fee = $1,097.76
Building Insurance = $494 (approx)

NETT INCOME approx = $6,911.44

If you borrow funds:
Based on ANZ “Interest Only” Loan, currently at 5.43% for 30 years, borrowing 60% of sale price which is $57,000
Loan Repayments = $3,095.04
Leaves a Positive Cash flow = $3,816.40 in your pocket! -- Plus an investment that is being fully paid in the long term.

Important Notes:
- Payments are transferred monthly into your bank account.
- As this is a resort investment, banks will loan 60% of its value, you will therefore need the balance of 40% in cash or equity in another property.
- A new lease with a 7 year term + 2 x 7 year options is being drafted for signing.
- The immediate owner (husband & wife) can stay up to 4 weeks a year. Min stay is 1 week & 1 day. This is worked out as (7 days = 1 week, 8 days = 2 weeks, etc) In the company name the owner or main shareholder director of the company is the user of the right.

Edgar