First step for couple
BUYING a Carrum Downs townhouse for $340,000 has been a convenient investment for Endeavour Hills couple Rose and Nor Eltaha.
The property is the couple’s first investment, designed to provide wealth through longterm capital growth.
But being close to cashflow neutral means the $360 a week rent the townhouse nets is covering the outlays on the investment. “It is pretty much covering the cost of the property, but we’re putting in $200 a month towards it for surprise costs. But in the scheme of things it’s not too bad,” Ms Eltaha said.
She said they bought in Carrum Downs because she grew up on the coast and knew the area. “I could see it was a growing area, so it was a good place to invest,” she said.
The low maintenance property was close to facilities, so finding a tenant was quick, Ms Eltaha said.