Hi there everyone. We are in a fix. We have 2 apartments in Auckland, which unfortunately , there seems to be a whole lot of other apartments being build. We have decided to sell off one of the apartments which have another year of rental guarantee. We bought the apartment for $215k and have decided to sell it at $207k. It seems that the agent selling our property told us that the most the apartment would fetch only $200k tops and would rather we wait out due to our rental guarantee.
Even after dropping the price to $199k, it seems there wasn’t any response to the sale . Any ideas how to sell off the property or do something else.
The 2 properties are returning 8% return annually.Regards
AzmiHi Azmi,
I have some contacts in Auckland that may be able to structure selling them on a rent to buy for you.email me if you are interested
Xenia
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582Originally posted by azmiahmad:
The 2 properties are returning 8% return annually.For now… what do you expect to get after the rental guarantee expires?
Hi azmiahmad
Do you think hanging out for another 12 months is wise?
afterall, over 12,000 apartments have been completed in Auckland’s cbd PLUS another 7,000 under construction.
To may investor’s in a small boat to survive.
“Rental guarantee” …don’t you just love it.
Its guaranteed all right….you paid for it
IT’s built into the price when you bought it.
It real price is probably only 160k
Good luck
let us know how you go….
like to see if the theory “You’ll make money in property” works for youharry
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