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Thanks for the replies.
I think I’ll leave this type of investing for when I’m a bit more savvy. At the moment I’m still trying to find my feet. I’m sure towns come and go and there will be plenty of opportunities when I feel ready.
This is the kind of stuff I need to learn! I guess it’s not that hard, but I will need to ask more people more questions.
I had a suspicion that it wasn’t a very good deal… I wanted to see in a practical way how one goes about doing the numbers.
They state that they are thinking that each individual unit is $120K, so to answer your questions, yes I think they are factoring in dividing the properties and selling each off individually.
“In a good location” is from my knowledge of the area – it is near a busy intersection with local shops, schools, uni, transport etc and the area has lots low income workers who rent more often than buy.
When you say that with so many units, you have to delve into their personal matters, isn’t that why you pay for management fees? I always thought that owning the whole place would be easier than owning units individually….
So I guess this is where being “creative” and negotiation comes in right?
Thanks for the comments.
Bump.
I am a person who would be interested in a bird dog for South Australia. Cashed up but with little experience (other than buying my home) [glum2]. Wouldn’t mind using someone’s experience for my first few properties. Please contact via email or mobile number under my profile. Thanks.
Originally posted by EllyH:I recently downloaded a 21 day trial of “Investment Detective” (from this site), which would be ideal for your scenario. You type in your figures and it does all of the calculations for you. I too have just started looking for my first investment, and it’s hard work. You could well be on to a winner though. Are you able to value add to the property, create an extra bedroom for example. Good luck, I hope it works out for you.
Can’t seem to find the link for the trial download. Anyone know where it is? Thanks
