26/400 Ruffles Road Wongawallan Qld 4210 If you have seen these for sale & sold before, well things have changed and it is even more exciting!  Located at the Golden Door Retreat in Willow Vale, offering investors a very rare positive geared property with secure income source. The property can either be leased out to anyone from the public (as a normal rental property) or you can live in this yourself making this very, very affordable home.  This hilltop property features:  - 2 bedrooms  - Open plan living design  - Split system air-conditioner  - Bathroom with spa bath + separate toilet  - Fully functional kitchen  - Large outdoor balcony  - Laundry  - Tank water  - Electronic gated estate  - Facilities include swimming pool, sauna, tennis court and a gated entry.  - Property will be sold vacant.  Current maintenance:  - Property needs gutters cleaned, gutter guard installed and the water tank cleaned.  - An antenna needs to be installed for digital TV signal. Quoted amount is $398  Live in there yourself:  Should you wish to live in there yourself, the only expenses are body corporate fees, council rates and building insurance as below.  Rent it out:  Should you wish to rent this property out as as investment, below are the figures for you:  Yearly rental income = $16,380.00 ($315 per week)  LESS yearly expenses:  Body corporate fees = $4,063.40 (Admin Fund $2,772.32 + Sinking Fund $1,291.08)  Council rates = $1,844.60  Building Insurance = $170.49  Rental Management fee = $1,531.53  NETT INCOME approx = $8,769.98  Borrowing funds?:  - Current known lenders include: Suncorp, ANZ and Bank of Queensland.  - Due to smaller land size, banks will lend 50-60% of the sale price. Cash or equity in other property will be required for the balance.  - Based on ANZ "Interest Only" Loan, currently at 5.88% for 30 years, borrowing 60% of sale price which is approx $72,000, loan repayments are = $4,236 per year ($353 per month) leaving a positive cash flow of $4,533.98 in your pocket!