Artistic license at work on this listing..

[Bird Dog]

Have a look at some of the assumptions this agent makes whilst trying to sell car parking spaces....

http://www.realcommercial.com.au/property-offices-vic-docklands-5832561

 

[Propertunity]

Yep. The agent is an idiot. If Melbourne does not become Australia's largest city in the specified timeframe, then he/she and the agency who employs him/her could be sued big time.

 

[Player]

It's not just the largest city tag that is misleading. This advert is off on so many levels.


Property DescriptionCarparks
Currently 5 years in to a 10 year lease with an option for a further 5x5 extension - meaning you have guaranteed rental income for up to 15 years.

LOL. Meaning the tenant has guaranteed control and discretion of tenure over the landlord, not the other way round


MAB (lessee)cover all outgoings - meaning you will never have to pay body corporate or other expenses increasing your return and minimising expenses



6% rental yield guaranteed from day one

No mention of the guarantee. This rea is too loose with that word and is unlikely to know its meaning. Yield is not that great anyway. I am getting more than that in the bank and flexible with at call.

Rental increase in 2012 and every 2 years after that.

No mention of the increase rate and every two years................WOW

With a 20% deposit ($10,000) it would be come cash flow positive by a minimum of $300 per year - based on interest only at 6.75% interest, it will increase with rental adjustments and lower interest rates over the next 2 years. Meaning its costing you nothing to hold and all the capital growth is yours.

Such grand assumptions............where do I sign, Rowan? I think I'll take a dozen

Located on the city fringe and with the docklands project 20 years into a 30 year planned development it has more room to grow in regards to demand, in 20 years Melbourne will be Australia's biggest city with a population of 5 million. Having a car space in the heart of that will only be advantageous to you.

Melbourne may end up being Australia's biggest city in terms of urban sprawl, but not by populace.

This is a poorly worded advert, for sure. He's also well out of the region of the asset location. Also not a company that really deals in commercial. They sell houses mainly in the Moorabbin, Highett, East bentleigh areas.

I reckon houses in the US are looking better by the day.

 

[Bird Dog]

The ad just got better the further you read into it..

I know one of the agents at that firm so I might send him a friendly email linking the ad as I doubt they're be happy with litigation proceedings further on down the track...

B.D

 

[Rolf Latham]

[/COLOR]

With a 20% deposit ($10,000) it would be come cash flow positive by a minimum of $300 per year - based on interest only at 6.75% interest, it will increase with rental adjustments and lower interest rates over the next 2 years. Meaning its costing you nothing to hold and all the capital growth is yours.



A weeny comm loan with an 80 % lvr and a rate of 6.75 v where do I get my clients this one pls : )

ta

rolf

 

[Bird Dog]

Yes Rolf, I've sent the ad to my bank manager and asked for this deal on my next loan....

 

[Aaron_C]

What an idiot.