We are considering purchasing men’s boarding units. They are really like a motel but self contained except for a shower and toilet block which is communual. Bit unusual but seems to be full 85% of the time with long term and short term tenants. It is out west and currently 100% tenanted. We would have to get a manager in to manager these units. Anyone have any comments? Robyn lee
rwahry
I looked at one in Newcastle. But the property was about 80 years old and the fact that I would have to get a manager in made returns minimal.
As long as you check the figures and look at all scenarios, it could be a good investment IMHO.
“Life is not a journey to the grave with the intention of arriving safely in a handsome and well preserved body, but better to skid in sideways, thoroughly used, totally worn out and loudly proclaiming . …… Hell, what a trip !!”
Originally posted by robyn lee:Bit unusual but seems to be full 85% of the time with long term and short term tenants. It is out west and currently 100% tenanted. We would have to get a manager in to manager these units. Anyone have any comments? Robyn lee
rwahrySO if it is 85% of the time full, it must be 15% of the time vacant. That’s almost 8 weeks of vacancy per annum …[blink]
Celivia
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