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What's the catch?

Discussion in 'Real Estate' started by Compleks, 11th Sep, 2012.

  1. Compleks

    Compleks Well-Known Member

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    18th May, 2007
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    348
    Location:
    Melbourne
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
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    Location:
    Sydney, Australia
    It's a commercial lease. There's probably a mile long list of caveats or clauses that go along with the property.

    Not as straight forward as it sounds - and you would definitely want legal advice before proceeding, this isn't a "normal" property.
     
  3. jeffery85

    jeffery85 Active Member

    Joined:
    20th Jul, 2012
    Posts:
    29
    Location:
    canberra
    its a hotel very hard too resell (can go out of date quite quickly) and check out how big the place is sometimes they can be too small for loans.
     
  4. Terryw

    Terryw Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    653
    Location:
    Sydney
    Yes looks like a hotel or serviced apartment. So may be a high yield but there will be big fees associated with it and maybe lots of vacancy.

    Also you will have trouble finding finance and the LVR would be much lower.