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Good suggestions, all noted. The prices of similar properties listed in domain.com.au is from 200K to 225K. If I want to sell, then I will have to do that at a substantial loss. Agree that the loss could be recovered from another better investment, but that's another risk I am unwilling to take knowing how market is behaving for last few years.
The unit in reference is already furnished with furniture, fridge, MW oven and some outdoor furniture.
My agent is OK, not sure how could be of any help if that doesn't make any commission for him!
Wondering if anyone has any suggestion if I could do rent to buy, that would have recovered some of my costs and free up some of my cash. Is that area (Manoora in Cairns) a good one for such positioning, would people be interested to rent to own.
Cairns is apparently holding G20 finance minister's conference sometime this year, but it is unlikely to push the market price in short term unless significant event happens that fundamentally change the local economy there.
Many thanks,
S
Thanks duckster, really appreciate your quick response. I had thought of vendor financing but as mentioned before I am not quite educated on these options and what qualification (such as license) are required to enter into such transactions. Is there a bunch of legal documents that I could buy from anywhere for both parties to execute. Same for the lease options. Where do I learn on these and most importantly, the paperworks needed.
Many thanks again.
