Wondering if anyone has looked into purchasing units as part of an overall complex which is for elderly people to retire at?
Have found one such new development and the property, based on estimations of rental from the pension etc, will give approx $25 a week cashflow.[party]
I have been thru all the figures that the agents have supplied, and yes I am getting these double checked, as I am aware the agents are trying to sell the properties, as part of DD.
Just wondering if anyone had bought into such developements?
If so what are the thoughts?
Pros, cons??
As the units are small, 50 – 60 m2, CG may not be the best, but I am chasing cashflow, and as such they appear to be a good investment.Any feedback would be immensly appreciated.[thumbsupanim]
* lenders may not accept the property for security
* may have restriction on reno the property
* may have attached conditions when selling the property
HI Fatman,
I would suggest that you use the search facility as this topic comes up time and time again. The search function is located under the forums button across the top of the page.
In short, naive investors, are seduced by the cashflow returns on these types of investments. The total return including equity is substandard thus making long term wealth creation problematic.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113
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