Hi,
I was wondering if anyone has any experience with serviced appartments??
I am just looking at a property I found in the heart of Surfers Paradise. It is right in my price range but I think a bank will only lend 70% is that right? I may not be able to get that. I am seeing my finance manager tomorrow
The property returns gross 18% and net 9-10% plus (with all management fees taken out), so is a nice little earner. I have done a fair bit of due dilligence on it and the area and I am liking what I see. Finance will be my only draw back – we will see though I guess.
My question is though, I just want to know of people’s experiences with Serviced appartments. Negs and Pos. Will I be sacrifising capital growth investing this way?
I have a couple of negatively geared investments and want something cashflow positive/nuetral which this will be.
Any help would be greatly appreciated.
Actually, I can send you a website link to the property if you want (as long as you dont buy it
)Andrew
Are you sacrificing capital growth? Absolutely YES
Property as an asset class is poor for income. LPT, CPT and high div shares have an excellent track record to provide what you seek.
Hi thanks for that, I have a share portfolio already and have investigated a few other high yield investment opportunities but I just feel more comfortable with property.
What I really want is some advice on serviced appartments and in particular the one I mentioned above. It looks like I may have trouble getting finance from a financer so I will soon see.
http://www.cashflowcapital.com.au/listing–12145.html
It is a member based website but u dont need to sign up if you dont want. The price is $265K and the rentals listed are $945 pw thats all u get extra from here anyway.
Any advice at all would be much appreciated from someone who knows about Serviced Appartments in particular.
anyone?? – before I see my finance manager tonight.
)
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