First step for cou­ple

Herald Sun - Property - - NEWS -

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.

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