MILK BAR

This is your property hub, 'AKA' The Milk Bar. You will be able to access real-time data on your portfolio and individual properties. We will feed you information on what you can do with your current property to improve value, but also, what your next move can look like.

Your

Portfolio

PORTFOLIO VALUE
TOTAL DEBT
TOTAL DEBT
GROSS POSITION
ANNUAL RENT RECEIVED
ANNUAL RENT RECEIVED
ANNUAL OUTGOINGS
ANNUAL DEBT/SURPLUS
ANNUAL EQUITY @ 80% LVR

$51,986

MAX. NEXT PURCHASE PRICE
NEXT PURCHASE RECOMMENDATION

Your

Properties

Here we detail your individual properties and the stats that matter. We have also provided recommended renovations to your properties and the numbers post renovations.

Ballarat Central, VIC

507 Lyons St South

7 months

Ownership Period

$355,000

Current Value

$51,986

Equity @ 80%

$406/m

Holding Costs

STRUCTURAL

20 - 24 weeks

As we discussed when purchasing this property, the play on this was to buy, hold and then renovate at the end of the lease term, which is July 2019 (if funds are available). The renovation would be a rear extension adding significant floor space and reconfiguring the internal layout to allow for four bedrooms (currently three). There would be some demons in the house so we'd want to allow a 20% buffer for the renovation. The renovation would allow for the current property features and character to remain with the addition of a modern rear extension that allows the floorplan to include a fourth bedroom with ensuite and a second living zone. Rear landscaping including a covered outdoor dining zone is a must. To complement the additional living spaces, the renovation must include the addition of a double lock up garage. 

 

To finance the renovation, you will need to have access to $280k. A bank construction loan is possible and you will need to put down a 20% deposit, like a normal home loan. Based on $280k, this would equate to approximately $56,000. On our valuation of $355k currently, you will have access to $52,000 in equity that can be used to fund the majority of the deposit. 

 

Given the current tenancy expires in July 2019, the best opportunity to build and minimise your out of pocket expenses is to have your due-diligence and council approvals in place prior to the lease expiring. This way, we can get started on the renovation immediately after the lease expires. 

 

We believe this strategy places you in a stronger position than saving for the next purchase given the available equity currently will not be substantial enough to cover a new purchase. However, on completion of this renovation, you will have enough equity to purchase again, so it aids in the ability to grow your portfolio.

Budget:

c. $280k

c. $750k

Post Reno Appraisal

$450-$500/wk

Post Reno Rent:

c. $148k

Post Reno Equity @ 80% LVR:

(This is net of the construction loan)

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