Thoughts on this property

Viewing 9 posts - 1 through 9 (of 9 total)

aaabbbccc
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@aaabbbccc
Join Date: 2009
Post Count: 71
November 6, 2009 - 1:37 pm
Hi everyone,
I wanted to gauge peoples opinions on this particular property…
It has had about 4000 people visit the link through realestate.com.au but it's still not sold… Is there something wrong with this type of IP?
Opinions appreciated.
http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=105284386&f=0&p=10&t=res&ty=&fmt=&header=&cc=&c=46086257&s=vic&snf=rbs&tm=1257514219
maree_bradross
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@maree_bradross
Join Date: 2007
Post Count: 401
November 6, 2009 - 9:40 pm
why is it an investment only? is it motel type accommodation?
thecrest
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@thecrest
Join Date: 2004
Post Count: 992
November 6, 2009 - 9:47 pm
Looks like a managed serviced apartment due to conference facility & restaurant etc. or perhaps a converted motel.
Ad doesn't address the obvious questions about nett rent after management expenses, availability of income records, who manages, age, parking, . Needs split aircon system in lounge and kitchen. Overall blurb Too brief. Presents OK otherwise.
Are you the seller, what's your interest ?
Cheers
thecrest
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god_of_money
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@god_of_money
Join Date: 2008
Post Count: 970
November 6, 2009 - 10:49 pm
R U A SELLER?
Declare your interest please
aaabbbccc
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@aaabbbccc
Join Date: 2009
Post Count: 71
November 7, 2009 - 8:44 am
Hi.
I'm a buyer, not a seller.
My wife and I have been looking for an IP for about 6 months, but we keep swinging between 3BM houses on large blocks, or cheaper units/apartments with reasonable yields.
Also what are people's opinions on inner-city apartments? From what I can see on realestate.com.au the yields are fairly high, but I'm obviously missing something because there are HEAPS for sale…
Thoughts appreciated.
Cheers,
Alaister
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@alaister
Join Date: 2008
Post Count: 8
November 7, 2009 - 9:20 am
You would def want to call up and find out how much all the outgoings and strata are. The rental income seems high however i think outgoings will be very high also making the investment not as attractive as it initially looks.
diggerdigzit
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@diggerdigzit
Join Date: 2009
Post Count: 49
November 8, 2009 - 6:00 am
god_of_money wrote:
R U A SELLER?
Declare your interest please
why, are you like the forum police or something and also it's RUDE TO SHOUT
duckster
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@duckster
Join Date: 2004
Post Count: 1,674
November 8, 2009 - 8:28 am
It is a serviced apartment complex you book in for the night . It probably incurs high management fees for you the owner .
see http://www.questknox.com.au/index.site.home.property.21.html
DWolfe
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@dwolfe
Join Date: 2009
Post Count: 1,253
November 8, 2009 - 10:51 am
Hi,
I just thought I'd put in my 2 cents.
I don't know how much demand there will be also as the quest (previous post) seems to be newer and in a better location. Mountain HWY is before the major shopping centre in Wantirna South, Cnr Burwood HWY and Stud Rd. Ask a lot of of questions on this one especially why they are selling. I would also ask about vacancy rates and ask to see any information they have on current bookings. Sometimes overnight accommodation can be booked on better views, away from rd etc not neccessarily in a rotation. There will probably be a limited amount of control you will have over this IP so if you are cool with all of this look into it further. But hey I like big Blocks.
DWolfe
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