I currently own a hotel suite in chatswood valued at around $300,000 that has a 10 year garanteed rental return expiring in 2009 of about 4%p.a. i would like to sell this investment property but dont know how to go about doing it.
where are the buyers coming from?
where should i advertise if i use an agent?
any ideas please????-Desperate seller
hi Alon
Couple of things
You need to give the growth as well as the return because in chatswood the growth for normal real estate is about 15% currently and it is a hot spot.
This is a hotel suite so won’t have the same growth.
In your market the buyers are comming from asia as most of the purchasers are asian in chatswood.
I would advertise with an agent but first talk to the hotel chain they would be the first call.
Here is not the best choice as the return doesn’t come with in the radar of most investors.
And any ideas well I have a few.
First get rid of this investment 4.0% for this type of investment should be around 9 to 10%.
Second look for a market that is going to use this type of investment and Chatswood would not be my first choice.
Third purchase to hold in a long time plan. Looking at this it was not done because if it was you would sell this type of investment on the peak of a boom.here to help
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