I have been playing with the search options on some real estate sites to find out a good search criteria….
I tripped over this..It looks ok, anyone want to do the calcs and go for gold.
BAYSWATER Affordable Investment
$63,950 plus GST
4/4 HIGH STREET House
When price is important for a brick and montar investment, this small (4m x 13m approximately) shop adjacent to Video Busters video store and currently leased until 11 June 2004 at $375.00 per …[
]Regards,
Arty.[
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“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)Hi Arty,
leased at $375 per…?
I’ll assume week not month.If that’s Bayswater VIC, then it’s only 5 minutes from where I work.
Gordon
Invest in People for a Prosperous Future!
Here is the full ad..
Affordable Investment
$63,950 plus GST
4/4 HIGH STREET BAYSWATER
When price is important for a brick and montar investment, this small (4m x 13m approximately) shop adjacent to Video Busters video store and currently leased until 11 June 2004 at $375.00 per calendar month.375pm * 12 / 52 = 86.53 pw
11 second rule…
86.53/2 = $43
$43*1000
$43,000 ideal price..AHHH … ok so its not +ve, at first look it seemed cheap, till the figures proved that wrong.. SORRY! (unless you can get them down to $43K !. [
]Regards,
Arty.[
]
“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)Arty,
We can try bargaining down, then raise rents.
If the lease is until 11 June 2004 you would need to do something for the tennant to justify the rent increase wouldn’t you?
Would it worth, keeping the rent as is until June 2004 (-ve gear). Then re-do the rental agreement, so it +ve gears from that point onwards…
if the current tenants leave because of the increase, then advertise for new tenants ?
[]Regards,
Arty.[
]
“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)Just don’t forget the win-win policy
you can increase the rent if you put in some extra security, lighting or something they would appreciate. It is tax deductable for you and you increase the rent by x amount to make it positive. Above all talk to the tenant they are people as well, who may want something and would pay extra to get it.
Cam.
At $375 per month, the rent sounds a little low for that area. I’m in a shopping centre about 5 mins away, and the rents here are higher and with less traffic.
It looks like they’ve based their sale price on roughly a 7% yeild.
The thing to do would be to compare rents for other shops in the same area. At a guess, I’d say it would be at least double if not more.
Based on that, when the lease runs out, it may be possible to approach the current tenant about charging market rates or get in a new tenant who will pay the higher rents.
Translates into instant capital gain.
But.. I haven’t seen the premises, so it’s all speculation.
If I get a chance, I’ll go have a look for you.
Gordon
Invest in People for a Prosperous Future!
Gordan.. thanks for that.
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If you find the property is worth looking into, and since its close to you. Feel free to invest in it yourself… I just found it scanning through the realestate web pages. So its up for grabs!.“Just one of the many FREE property spotting services provided by your local forum participant.”
[]Regards,
Arty.[
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“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)
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