All Topics / Help Needed! / How to close this deal?

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  • Profile photo of high flyerhigh flyer
    Member
    @high-flyer
    Join Date: 2003
    Post Count: 48
    February 13, 2006 - 5:19 am

    I came across this property which comprises of 6 strata units (2br with SLUG) for sale in 1 line. Asking $1.2m and returning only $180pw gross each.
    The asking price is not in line with the return (from an investor point of view). However, I think some creative sturcturing can turn this into a worthwhile venture. Hence I am seeking your opinion or idea?
    In my opinion, the unit is worth around $200-$250k range each, if sold individually. It is located in a major city and close to transport.
    Any suggestions will be very much appreciated on how you would approach it.

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950
    February 20, 2006 - 1:12 pm

    Hi highflyer

    i can’t see the angle on this deal

    its price is 1.2 Million
    and there are 6 units if sold individually would sell of 200- 250K

    After stamp duty to buy, agents fees to sell , holding costs of owning this investment i don’t see where your profit is ?

    Unless you get the deal for 800K, then i’d consider it ???

    Am i missing something ?

    regards westan

    Over 100 deals done in the USA in 2005
    Buy in the USA email me at [email protected]

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