[lfjrMember@lfjrJoin Date: 2012Post Count: 4]

January 12, 2013 - 3:34 am

Hi Aussiekiwi,

Just interested to see what you ended up doing with this unit? I must admit that I was also amazed at the figures when I first came across them a few weeks back, however just as many have commented on this thread,, the warning bells went into overload.

another point which no one seems to have mentioned is that those units were affected by the 2011 flood and that the strata insurance does not cover floods. Many of those had to be fully refurbished, i assume at the owner's expense, hence the number of them for sale?

[lfjrMember@lfjrJoin Date: 2012Post Count: 4]

January 12, 2013 - 12:44 am

Thank you all for your input, by the sound of it the general consensus is to stay clear of it, which is what I was already thinking anyway. Just wanted a second opinion and check if anyone had a different perspective on the matter.

The job of finding a good, high yield investment property goes on…. Any ideas welcome