All Topics / Help Needed! / leasehold units good or bad idea??

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  • Profile photo of geccogecco
    Member
    @gecco
    Join Date: 2003
    Post Count: 3
    October 22, 2004 - 8:26 pm

    I have seen leasehold units in a large complex on 99 year leases 90 years to run . Figures are:$90k return $180/week with 300 a month outgoings.Ihave been told banks will not lend on these so it is cash or home equity etc to fund them.Iam interested to here what people think.

    Gecco

    Profile photo of PropertyGuruPropertyGuru
    Participant
    @propertyguru
    Join Date: 2003
    Post Count: 1,502
    October 22, 2004 - 9:56 pm

    I will not buy lease hold property when the return is only 10.4%.

    Cheers
    PropertyGuRu [sultan]
    Mortgage Consultant
    [email protected]

    NZ loan pre approval from austrlia in 48 hours

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