Block of units/apartments

Discussion in 'What to buy' started by Fitzy1903, 17th Sep, 2015.

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  1. Sonamic

    Sonamic Well-Known Member

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    Really? Poor them. I'd hate to be the poor schmo trying to pay $2000 a week rent on an average wage worth of Super in 20 years time.

    But I'd be happy with a 4 pack. Anything up to maybe 8.
     
  2. The Social Investor

    The Social Investor Active Member

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    There are a lot of people that will give you advice but unless they are expert, they shouldn't
    No one ever built a statue of a cynic but they are everywhere
     
  3. Sackie

    Sackie Well-Known Member

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    I agree. The problem is what constitutes an 'expert '?

    Most of the so called experts have their own agenda to make themselves rich.
     
  4. The Social Investor

    The Social Investor Active Member

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    That is the big problem in this industry but I guess its the problem with investing in all asset classes. So many so called experts. Identifying the real help from the people helping themselves is the skill. There is one key indicator....follow the money trail. see who gets what
     
  5. Sackie

    Sackie Well-Known Member

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    Well you gotta look at the expert's track record. Whether they are mentors, advisors , consultants etc if someone wants to build X amount of wealth in X years, there is no point listening to any 'expert' who is not even half way there. The 'expert' should also have made their wealth from the same vehicle the person is seeking advice in. Not just became wealthy from massive seminar fees and the like.
     
    Last edited: 18th Sep, 2015
  6. Angel

    Angel Well-Known Member

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    Another factor nobody has mentioned here is a demographic we often forget about - people with mobility issues and single mothers with prams etc. When my elderly mother downsized a few years ago, it took us a year, yes an entire year in a buyer's market, to locate a ground floor townhouse for her (called a villa here). They sold as soon as they hit the market, so plenty of demand.

    The complex where she lives is eight klms from the CBD, serviced by bus and a five minute drive to the train station. It has a mix of two-story townhouses and low set villas, so it appeals to a wider resident base than the thousands of townhouses being built these days in the suburbs.
     
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  7. The Y-man

    The Y-man Moderator Staff Member

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    @Fitzy1903

    We've owned apartments in inner Melbourne in blocks of 8, 20, 40 and 200+

    The 200+ high rise was a disaster - high holding costs, lots of competition etc etc.

    The 8 and up to 20 have been ok - enough sense in the OC meetings to get decisions through, visibility on costs, no truly unforeseen big ticket items.

    Still have 2 x 1 bedrooms. Rarely vacant and no big issues on holding costs.

    The Y-man
     
    Last edited: 21st Dec, 2015
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