I have been looking on the net for positively geared property and came across a city hotel room for sale for $120000 with a net return of $10000.
I know there will be higher costs to manage this type of investment, and the bank will probably only lend 50% because of size…
but I want to know has anyone else invested in this type of property, what are the disadvantages, and what are experienced investors thoughts on this type of property generally?
Thank you
We own one in WA and I would never buy another.
The returns are not guaranteed, you are relying on tourism and the licence holders of the hotel.
The banks don’t like something you can’t tenant yourself and do offer less with respect to that kind of security.
Also the size, tell me it is over 50m2.
I would buy something else if you want my honest opinion. The only reason I would even consider it, is if I was taking holidays in that area and wanted a few weeks a year there at no charge.
Byronent
Adelaide SAThought about a 4 x 4 tent once, going cheap c/o an Army Surplus store near home, but as I have an aversion to anything even remotely connected with “camping” I decided to forego this great opportunity for a more popular type of building material; hence the erection of a brick construction!!! [biggrin]
Besides, IMO unless you were going to buy the entire shoes store, anything less than 50m2 is really more fitting for dumbass soles!!! [blush2]Hi Suzette,
There was recently a similar question asked about serviced apartments. Many of the issues are same/similar so have a look at
https://www.propertyinvesting.com/forum/topic/15283.html
Derek
[email protected]Property Investment Support Available.
Touche Jo.
Where is the 4×4, I am into weird ass deals.
I have a round/oval 3 storey place and a wooden Canadian Challet built here in SA. A tent would make my portfolio perfect.
Byronent
Adelaide SA
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