Property Investment opportunity $35K below mkt value

This offer has only been provided to me at this stage and not to any agents or sales representatives.

I have been approached by a client of mine who is a property developer that
wants to move some of their stock

The property is located on the corner of Crown and Corrimal Street in Wollongong. The location is quite central. It is 1 block from the Wollongong City Mall and 3 blocks from the beach. Restaurants and café’s are prominent in the area

Another opportunity is coming up for them and they need to sell some of their units very quickly

They are willing to offer us 1br + study units at a discount of $35,000 below valuation. Prices range $295K - $330K

The valuation was conducted by Landmark White and a 1br unit was settled just last month at the valuation price. The units they have sold are achieving the valuation price albeit rather slowly in the current market.

I have worked out the after tax cost to be between $82 & $118 pw depending on which unit you choose

There are only 3 available, I do not expect these properties to last

They also contemplating a price reduction on some 2br units but this is not yet confirmed. I have not conducted a detailed analysis for these as yet.

Like any investment, I believe it should be a medium to long term hold.

Should you be genuinely interested and require futher information please do not hesitate to contact me.

The website is
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Please note: this not an endorsement of the product/ property and each investor should do their own research and due diligence

I am charging my client a fee for my services in relation to the work I have completed.

NickM

 

very very interesting Nick... 6% yeilds basically

11% to actual valautions... now if only the banks would take the valuation price and not the contract price on the property it would be fantastic....

appreciate the link... when people say they cant afford to buy a place all they really need to do is look for these bargins...