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I've found a mob that do all of sydney for pretty cheap, but they specialise in the city
Management fee – 5.5%
Property report – free
Quarterly inspection – free
Letting fee – free
statement fee – free
Postage fee – free
Lease Prep fee – free
Annaul statement – freeI've moved one of my city apartments to them 3 months now and they seem pretty decent, i havent seen any hidden charges
Thankyou hoppa for your comments. Yes, I’ve found the local papers in the area to be quite cheap. Under $20 per paper for around 3-5 lines. Thanks again.
ian_from_brisbane: They don’t get any cheaper than this down here. There are large pockets of housing commission in this area.
Great thinking Michael!
Thanks for your thoughts guys.
I will vendor finance the property for the sole purpose of improving my cashflow. Other than selling for cash, providing vendor finance is the only way I can see to turn this alligator into something positive. What other ways are there?
I think an asking price of $245,000 at 8% interest over 25 years is very fair. I will start advertising for it today.
I heard somewhere I can advertise Real Estate in the newspapers $55 for 7 newspapers. Anyone know where this is?
Hi Mortgage Adviser,
The property is currently untenanted. It would rent out for 170-190 pw.
So you think that the price is too ambitious for Lethbridge Park? The bank was conservative at the time of valuation. Maybe I should lower it? How much do you think?Why do you want to get rid of it “fast”?Well I’m very negatively geared and not having a tenant in the property hurts after a few weeks.
Thanks for your advice mortgage adviser!
