Car Spaces for Investment

[Marc]

From: Marc Krisjanous


Hi all,
I have just started looking into car spaces has an investment. Does anyone have any thoughts or experiences they would like to share about this type of investment?

Best Regards

Marc

 

[Splinter Wood]

Reply: 1
From: Splinter Wood


ya can rent 'em for about $50 a week in North Sydney !

Buy IP with a carspace is generally much better than without. Ease of sale and better price with a car space.

Actual cost might give them a lower cap rate than say a good IP (Apartment). That's what you need to find out !

How much cost ?
What rent can you get?

SW

 

[Donna L]

Reply: 1.1
From: Donna L


I recently did the exercise with a strata-titled car space which was on a 10 year leaseback. Initially it looked good but when you took into account the Strata levies, little depreciation and the interest on the loan you really had to rely on the capital growth. Also concerned that if leaseback operator did not renew, about 150 carspaces would all hit the market at once which could be a problem.
Donna L