anybody interested in going into a joint application for a 2-3 bedroom apartment in melbourne city.
rental return of around $1750pcm?Thanks
ChrisHi Mackaz,[
]In order to purchase a good investment, capital growth and/or positive cashflow is required.
As land appreciates and buildings depreciate, it is hard to justify good capital growth due to the lack of land content in an apartment [unless it is somewhere like Toorak].
One of the reasons positive cashflow occurs is where there is a shortfall in available rental stock.
Melbourne has an oversupply of inner city apartments.
Sometimes developers offer a rental gaurantee,however this is usually built in to the purchase price.Be very suspicious if this is offered.regards
Bryce Inglis
[email protected]
http://www.ipal.com.au
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