All Topics / Help Needed! / Retirement units – am I missing something?!?

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of MrUniqueNameMrUniqueName
    Member
    @mruniquename
    Join Date: 2008
    Post Count: 25
    March 12, 2009 - 5:29 am

    Hi everyone

    I've been finding a lot of retirement units with rental yields of between 9 – 15%. To me, these seem too good to be true. Are they?

    Dave.

    Profile photo of SHalesSHales
    Member
    @shales
    Join Date: 2007
    Post Count: 325
    March 12, 2009 - 5:40 am

    I noticed too.  Check the management fees, body corp and any other fees involved in being a part of the complex.  This might be where the catch is.
    S

    Profile photo of MrUniqueNameMrUniqueName
    Member
    @mruniquename
    Join Date: 2008
    Post Count: 25
    March 12, 2009 - 5:47 am

    Thanks for the quick response. One place I've found apparently has no management fees, plus body corps are only around $2k, with returns of just under 15%! I will be making further enquiries into this property but, as I said, it just seems too good to be true.

    Profile photo of SHalesSHales
    Member
    @shales
    Join Date: 2007
    Post Count: 325
    March 12, 2009 - 7:09 am

    wow, no management fees!  That DOES sound too good to be true.  Surely someone manages the property and they charge something?  I've noticed a few of these for sale for less than $100K in strong rural towns.  Returning well over 10%.  Seems to me like a good class of tenant (so long as they stay alive!).
    good luck
    S

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.