Where can you buy a decent unit for only $105 000 which is safe, clean and recently completely renovated, in a well-run complex and a pleasure to live in? I challenge you to look on the Internet and see if you can get better value to live in or a better return for investors!
Each unit has an air conditioned lounge/kitchen, bathroom/laundry and a bedroom with built in wardrobes. Private covered patio, the complex has a clubhouse/dining room, communal laundry with machines. Covered outdoor communal area. Tenants can cook at home, or use on-site chef and dining room! Very attractive setting and gardens. Opposite Clifford Gardens shopping centre. On bus routes, plenty of parking.
The on-site managers are excellent in looking after the property and the gardens and overseeing the kitchens, organising outings and entertainment, and they really care for the occupants under their management. People live here because it is semi supported living.
Most retirement units have some form of ownership where you lose money when you sell. These units are strata titled so you own it, and can sell it anytime you want to like any regular town house sale.
Investors: Here is an opportunity to purchase a unit, with a positive cash flow from day one! Let your tenants pay the properties off for you. All you need to do is to wait for the capital appreciation and rent increases. The unit is rented for $500 per fortnight
Existing tenant wants to stay, and you will take over the existing lease. There is also usually a long waiting list of prospective tenants.
Monthly Budget per unit:
(based on rent of $500 each per fortnight and borrowing every cent to buy the property, and not using any of your own money)

Rent income $1083.33
Less expenses:
Insurance $ 24.36
Rat $165.70
Water rates $ 51.18
Levy $297.58
Interest on Mortgage $436.63 (4.99% of $105000)
Positive cash flow $107.88 per unit per month ( $1294.56 per annum)
If you paid cash for the unit, on a $105 000 investment you will get a gross return of over 12% per annum and a nett return of approximately $543.06 per month which is $6516.72 per annum which equates to over 6.2% per annum, which is very good.
You are also able to write off the depreciation against your tax if you have a depreciation schedule. Tenants can usually arrange for the rent to be paid from their pension money direct from Centrelink.