hi all,
I have just started thinking about investing. I have built a house that i was going to live in but then read Steve's book and have decided to rent it out.
I have come across a conference room for sale with a 12year lease. It is for sale for $55000 and the rent is at $5700 and due to go up to $5950/ year. There is a managing fee of 7.7% and rates of $1200/year.
Does anyone know much about this sort of investment? And is worth looking into?
Hope you can help!A couple of questions to consider: if it is a single tenant with a 12 year lease, prescribed annual rent reviews, rent paid directly into your account – what does the management fee get paid for ie can you give the manager the boot? Is the tenant responsible for the fitout and maintenance of the fitout ie projectors, IT equipment, video/phone systems, tables, chairs etc? Does the rent include the GST or is it on top of the rent? Who is responsible for getting conferences arranged? Are there specific requirements for the upkeep of the premises ie painting, carpet, ceilings, air conditioning etc?
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