HI there.
I came accross a deal and am looking at it – not too seriously, because currently I think that the purchase price is too high..
Story is:
Fully Furnished, Fully airconditioned
4x 2 BR flats on 1 title.
Two recently renovated,(145/w each) two in good nick but not renovated. (135/w each)Income = 560 p/w
Rates 1917*2 (six monthly)Purchase price ~mid 300’s (buyer is wavering).
I reckon I would pay 280!
But there are other options out there – any ideas?
What think you guys..To me, it sounds like a good deal as you could renovate the two other units and get a bit more rent (in between tenants though). Maybe you could even convert the units to strata title and sell them all off individually for a bit more. I see potential. Where are they? PM me if you don’t want everyone to know. I live in Canberra so they probably won’t be of interest to me since you reside in Brisbane.
Thanks,
LuckyoneHas anyone successfully transferred strata title on flats /units?
I’d be interested to talk to someone about this, the costs involved etc.
Cheers
alwayscuriousI think you’d be better to renovate, keep them on the sames title then flick the whole block when you wanted to. I doubt you’d make to much if you sold the units individually (A block of units for 300,000 doesn’t appear to be in one of the nation’s better regions for capital growth.
Personally, I’d touch them up a bit, raise the rents, and use the cashflow to finance another deal (perhaps a growth asset).
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