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Yes, I attended a seminar in London depreciator. Moving back in with the parents will only be a last resort after bankrupcy. I’m possibly thinking of completing another one or two renovations, consolidating, and then moving into the Southbank apartment. At least I’ll get to enjoy it while it’s not making any growth.
thanks everyone for the opinions. I think I might reduce the expiry to 2 days as I’m not interested in playing games with the estate agent, and after a quick result. This also covers me that the offer is off the table after this period. I can always make another offer later on.
I beleive I will have serviceability problems with several loans (will stretch us a bit too far). We already have one investment property negatively geared, and our current residence we are looking to sell in the near future wouldn’t achieve a positive cashflow outcome if leased. So just looking to make a couple of quick profits (that will not be liable for CGT) to get into a better position.
Hi Feast,
I’m new to this forum but I thought I might have some first hand knowledge you’d appreciate. I own an apartment in City Tower that is currently getting 5% return. The average return I might expect for my apartment currently is actually closer to 4% but an associated company of Central Equity is MSSA (Melbourne Short Stay Apartments) and once you purchase they will offer a 5% rental for one year with options to extend. They in turn rent the apartments to short stay tennants (minimum one month), usually business types, and make their profit that way.
I have personally inspected the apartment, and they are a vast improvement on some of their previous developments.
Having said that, I beleive there are better opportunities elsewhere in Melb, but I know being in London can limit your options somewhat.
If you have any other questions, feel free to mail/message me.
