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Investment in over 55's Apartments

Discussion in 'General Property Chat' started by Darlinghurst Boy, 29th Feb, 2016.

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  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Darlinghurst Sydney
    was having a browse through Domain recently to see a over 55's apartments for sale in a large Country town.
    The real estate agent has written " great for investors " returning $150 weekly.
    They are selling between $65 and 75k.

    Im just wondering what restrictions there are on these?
    Its probale they are Company Titles and not Strata too I imagne.
     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Great rental yield. Poor capital growth. Restrictions on use. Sometimes hefty commissions to pay to the village management on a sale. Lenders don't like - those that will fund only offer low LVRs.
     
    MTR likes this.
  3. barnes

    barnes Well-Known Member

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    What kind of restriction rules can apply in this case?
     
  4. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Age of tenant restrictions (over 55) for a start. Other restrictions as per the particular village's rules and regs.
     
  5. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    We've looked at these a few times. In every case the good yield is completely negated by the high management fees.
     
    Hanison and Propertunity like this.