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  • Profile photo of BlueboyBlueboy
    Participant
    @blueboy
    Join Date: 2003
    Post Count: 3
    May 9, 2003 - 7:46 am

    Thanks all. I have been sufficiently scared off, back to the drawing board. So is the Melbourne CBD a lost cause at the moment?

    Profile photo of BlueboyBlueboy
    Participant
    @blueboy
    Join Date: 2003
    Post Count: 3
    May 9, 2003 - 7:40 am

    Thanks Gary,
    I had quickly browsed the prospectus where there is a claim of no management fees etc and thought it was too good to be true. After your note I re-read the entire prospectus and noticed a couple of example P & L statements.These statements included an expense of ‘outgoings’ which I assume is a new name for management expenses. Anyway they ended up being around 18% of the rental income (ouch). Thanks for the heads up Gary. I guess for you novices out there (like me) if it sounds too good to be true then it probably isn’t true.

    Cheers,
    Blueboy

    quote:

    Hi

    a couple of clients have properties in their and monthly costs are a killer they’ve been trying to sell out of there for sometime

    if it was me i’d stay away

    Regards

    Gary

    Profile photo of BlueboyBlueboy
    Participant
    @blueboy
    Join Date: 2003
    Post Count: 3
    May 8, 2003 - 12:23 pm

    Whilst there are comforts with the long term leases I would check the quality of the property very carefully first. DHA have purchased some mass produced properties (especially townhouses) they may result in some significant maintenance costs downtrack which could eat into any capital gain.

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