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Could I just say that studios can also have a place in your investment portfolio.
We have a range of properties from 4 bed homes to 2 bed units and our most recent purchase was a studio in Springhill in Brisbane. The rationale was to obtain cashflow and have a property we could use whilst in Brisbane or for our daughter who – cross fingers – will go to University there in 2008.
The building was a motel which has been strata titled. There are a range of units from the studios to the 3 bedroom units available. A proportion are owner occupied and a percentage are available for rental. So far the unit has been earning us aproximately $500 per week for an outlay of $155,000 which includes legals, stamp duty etc as the building manager has been pursuing corporate rentals. Permanent rentals for studios can be up to $275 per week. The building manager actually said she had no trouble renting the studios but had more trouble renting the one bedroom units.
The only downside for an investor is that you need 20% equity or own funds to get into the deal.HI there
sounds like you need to speak to your solicitor or conveyancer about those terms and conditions
most properties have some form of easement on them for services such as water, electricity etc
as for the covenants – it looks like whoever subdivided the land was trying to ensure it remained a residential property
if you are planning to run a business from the property you should consider the terms with your solicitor – the fencing covenant is interesting – but look around the other properties – what sort of fences are they putting up?
