All Topics / Help Needed! / Hotel room investment

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  • Profile photo of chameauchameau
    Participant
    @chameau
    Join Date: 2004
    Post Count: 1
    October 30, 2005 - 9:26 am

    Hi,

    I came across this add for strata title hotel rooms in Hobart Tas (Mercure hotel) The return sounds ok at 6.5% nett from day 1! nothing else to pay? However the asking price is $150000? for a 60m2 room? Is this a fair price? keep in mind it’s fully furnished and serviced, and the tenant pays for all the outgoing, so maybe its not too much?
    Any thought?
    What about capital growth?
    Does anybody in this forum own a hotel room?

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    October 31, 2005 - 1:57 am

    These are harder to finance and less liquid than normal residential property.

    Do you think it will be a good prospect for CG?

    I personally wouldn’t consider a property like this for my portfolio – I think there might be better buying in Tasmania for that money.

    All the best,

    Simon Macks
    Residential and Commercial Finance Broker
    ***NODOC @ 7.15% to 70% LVR***
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

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