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Is there a price that it would be viable at?

Looks like the vendor will pay the current special levy but there will be another one coming up in 6 months around the same amount. I contacted the strata management team and they seemed to be quite proactive with things. They say the major issue with the complex is that the waterproofing was...

Hey guys, just been offered to buy the place for $270,000 and renting for 350-360 per week. My only issue is that it is 2 years old and there are a few issues with the building already which require a special levy of 2000 dollars per owner. If I buy, then the vendor will have to pay for it, but...

Basically everything you guys have said makes sense and is exactly what the book writers (Lomas, Lindemann, McKnight et al) have all written about. Probably still a good experience to endure and 'overcome' in a sense these extreme sales tactics in real life to provide first hand experience once...

Thanks for the kind words everyone. I have consulted with my parents' friends again. They are selling and have sold some OTP products in Mascot, Bella Vista, Parramatta. The organisation is as below: http://www.pia.com.au/en/ Key points that they mentioned to me: - It is not the right time for...

Just arrived home from a session of OTP spruiking and rental guarantees. Stories of people making 100k equity in one year buying units in blocks of 100+ in places like Mascot and the like. Immense psychology pressure and emotional blackmail. It's sad to think my mum trusts such a friend...

I think the 10 minute figure is for walking. When I visited the property I walked from the unit to the train station and it was about 20 minutes all up, 10 minutes to the Centro. You're definitely right about driving distance though, it is only a stone's throw away. The 2 concerns I mentioned...

Thanks for the words of encouragement, advice and support guys! You all have given me the confidence to move forward with this. Just to clarify, my mum is not a property investor but has bought and sold about 3-4 properties. When I first told her I would be investing in property in general, she...

From my 'research' I guess I concluded this: Other 2 bedroom units in the area are selling for 230K mark, however they are those older redbrick buildings Other 3 bedroom units in the area are selling for the 330K mark, and they are of comparable age and quality, but in larger blocks Other...

http://www.realestate.com.au/property-unit-nsw-jamisontown-114737375 Same block listed for $390,000. In my opinion the price on that is too high IMO the building is worth 295K but just second guessing the choice of suburb. Does anyone have any experience in Jamisontown?

Yes mortgagee sale

Yield is 6.5%. What is the difference between strata fee and sinking fund?

Hey guys, Just had an offer accepted of $291.5K on the following property: http://www.realestate.com.au/property-apartment-nsw-jamisontown-114308767 Block of 14, mortgagee sale Numbers: Rent: $340-350pw Strata: $725pq (550strata/175 sinking fund) Water: $175pq Council: $225pq LLI: $350pa PM...