bozzaaParticipant@bozzaaPost count: 1
hi guys, i am new to this, have seen these apartments up for sale on nepean highway frankston, beach frontage, sounds pretty good to me, can i get some opinions,
brendanmaree_bradrossMember@maree_bradrossPost count: 401
Ah I know the ones – used to be a large motel complex. There seems to have been no action there in developing for a long time.
They seem good value and probably walking distance to town/trainScott No MatesParticipant@Scott-No-MatesPost count: 3,786
As ex-motel rooms they will most likely be <50m2 which may mean that you will have some difficulty in financing a purchase. Turnover of tenants will be reasonably high and your levies will also be high if there is to be a fulltime concierge onsite/swimming pool/lift etc. This will hammer any returns.dr houseMember@dr-housePost count: 281
it doesn't say if they are serviced apartments?
You can't really add value, capital gain may be limited and outgoings are often quite high.god_of_moneyParticipant@god_of_moneyPost count: 971
Ask for Management fee, strata fee etc (big cost)…. and get the gross rental valuation. The nett return may be ~5%.
It may be difficult for re-sale in the future (main concern).
also problem with financing.. but only A$80k …. can pay with cash and park it in DFT
You must be logged in to reply to this topic.