Does anybody have any info or experiences on the Sebel serviced apartments on St Kilda Rd (VIC)? Are there any obvious pitfalls that I should be wary of when venturing into such an investment?
Hi
a couple of clients have properties in their and monthly costs are a killer they’ve been trying to sell out of there for sometime
if it was me i’d stay away
Regards
Gary
Thanks Gary,
I had quickly browsed the prospectus where there is a claim of no management fees etc and thought it was too good to be true. After your note I re-read the entire prospectus and noticed a couple of example P & L statements.These statements included an expense of ‘outgoings’ which I assume is a new name for management expenses. Anyway they ended up being around 18% of the rental income (ouch). Thanks for the heads up Gary. I guess for you novices out there (like me) if it sounds too good to be true then it probably isn’t true.Cheers,
Blueboy
Hia couple of clients have properties in their and monthly costs are a killer they’ve been trying to sell out of there for sometime
if it was me i’d stay away
Regards
Gary
what are serviced apartments?
i once heard my friend said one developer built an apartment tower, but changed its function to be used as serviced apartment first, for tax reasons?…
hmmm
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