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I would hold on. Don’t get too spooked about all this “glut” talk. Vacancy rates are still very low, and original rents quoted are always pumped slightly for finance purposes. This type of glut talk usually comes from people with other motives e.g. have you ever known an economist not to warn about the economy. All have vested interests.
I was warned off buying an inner Melb terrace in ’96. Doom and gloom talk about the future…increasing IR, jobs etc. I ignored it and turned $145K into $610K in 6 years.
As long as it is not an expensive unit e.g. penthouse, top floor etc, you should be OKLike any business, if you are taking on franchise just to make money, prepare for failure. You need to at least have some passion or interest in what the franchise does.
Family of ours had a Maccas a decade ago. Basically, family weren’t allowed to be involved in the counter areas, which made sense as a bunch of cranky old loonies screaming in Italian probably was not part of the image. So check for staff restrictions. BTW, Maccas was, and still is , BIG $$$.Resale value not a consideration? How quickly you can liquidate a property not an issue? Will anyone buy my place?
Would have done well if you bought properties in HK in 1996. Only lost about 50-70% cap value to date.Disagree with the location part. I can point to two Melb suburbs that have had -ve cap gains in the last five years. Ageing population and bracing for a downturn are serious concerns in property, therefore locations where rental demand is constant is important.
Just how is the “golden growth corridor” travelling? Which one? I don’t know, think I read of 5 in the last 3 years…all fizzled.I only really know the Melb markets. Well Melb, NY and Singapore, but keep it local!!
Sounds valid. My understanding is that you can put almost anything with an “end date”. I once signed a purchase with the condition of an o/s posting being firmed within 2 weeks – related to finance approval. Posting happened, I bought.[^]
I seriously challenge anyone to find a CF+ property in Melb at 100% gearing given the way properties have zoomed in the last 4 years.
And Hi![8D]
