Hi,
I have just checked out a 2 bedroom service apartment in melb city with parking.
Priced around 400k.
Its currently leased until 2016 and then can be owner occupied.
I wouldn’t mind living there once the lease expires in 2016.
Please let me know if its a good investment and what what should I be looking out for.
P.S – I only have about 50k to invest and hoping I can get a mortgage on the rest.
I have heard that finance might be an issue but since it can be owner occupied after 2016 – will it be an issue. Thoughts??
Any help will be great.Thanks,
V
Finance will be an issue because of the security type (its a serviced apartment) particularly with your LVR. That aside serviced apartment are bad investment stay clear of them. Look outside the bcd and ascertain an apartment or better yet a house. Sounds like you need the rental yield and have a lower budget so the apartment is the way to go. Also start engaging buyers agents and real estate agents to get an idea of areas, demand, future plans for the suburbs, etc.
Shahin Afarin – Property Finance Consultant
http://elitepropertyfinance.wordpress.comTheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
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Thanks Shahin
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