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ACT Braddon - Whats the catch?

Discussion in 'Where to Buy' started by hash_investor, 31st Oct, 2015.

  1. hash_investor

    hash_investor Well-Known Member

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  2. MichaelMik

    MichaelMik Active Member

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    That certainly does seem like a good deal, top floor and everything. Probably should sus it out!

    It's a bit weird how it's fully furnished as well.

    I dunno what the catch is either, maybe absolutely ludacris body corp fees??
     
  3. MichaelMik

    MichaelMik Active Member

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    And if the other one is good enough for 007 it can't be too shabby ;)
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Pretty sure they're serviced apartments.

    Cheers

    Jamie
     
  5. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Looks like a very big complex that may limit your capital growth (more sellers than buyers will push prices down) and I would also guess very high strata fees. (24 hour concierge, pool, sauna, gym etc etc etc)
     
  6. hash_investor

    hash_investor Well-Known Member

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    No. As I said they have the option to take it out of the serviced management. And, I also saw a rental property advertised on gumtree today in that building by the owner himself. I have decided to go have an inspection of that property and get some inside from the guy.
     
  7. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Ask how much the management fees are - they're likely to be quite expensive.

    Check out the size of the units too - anything less than 50m2 can be hard to finance without a large deposit.

    The yield seems good - but the growth won't be there......happy to be corrected though.

    Cheers

    Jamie
     
  8. hash_investor

    hash_investor Well-Known Member

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    Just had a look at that 007 apartment in Braddon, it is still available. WTH?
    And its not like the agent forgot to remove the ad it was updated this month and its been there since last year. It is strange they are not able to sell a 1 bedder in Braddon.
     
  9. Azazel

    Azazel Well-Known Member

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    Give em a call and find out.
    Maybe they did just leave it on there.
     
  10. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    I'm not sure if it is.

    I haven't kept a close eye on the Braddon market but I assume it's susceptible to the same market conditions that apply to units in Canberra at the moment - especially a one bedroom place.

    Cheers

    Jamie