Hi all,
Was checking out how many properties were for rent in a area I ride through on the way to work and noticed this property for sale at http://allhomes.com.au/c/ah?a=spr&p=16071. I was wondering if anyone is familiar with the Equity Share Lease technique. Is it similar to that being floated around sharing equity with the banks, except this is a private equity sharing arrangement?
Anyway the property description on the web site reads:
Less than 1 year old - this 2 storey, 3 bedroom ensuite townhouse is located in a quiet street in Braddon, close to shops and schools, and next to Haig Park. Secure basement parking provides space for two cars, and includes storage.
Standard rent (minimum 6 month term) starts at $440 per week.
Equity Share Lease:
If you are willing to sign a 5 year lease (sub lettable after 1 year, with approval), and pay a premium over the standard rent, you will share in the equity growth of the property over that time. The owner is even willing to backdate it to when first purchasing the property ‘off the plan’. This could mean instant equity for you, the tenant.
Cheers,
G
Was checking out how many properties were for rent in a area I ride through on the way to work and noticed this property for sale at http://allhomes.com.au/c/ah?a=spr&p=16071. I was wondering if anyone is familiar with the Equity Share Lease technique. Is it similar to that being floated around sharing equity with the banks, except this is a private equity sharing arrangement?
Anyway the property description on the web site reads:
Less than 1 year old - this 2 storey, 3 bedroom ensuite townhouse is located in a quiet street in Braddon, close to shops and schools, and next to Haig Park. Secure basement parking provides space for two cars, and includes storage.
Standard rent (minimum 6 month term) starts at $440 per week.
Equity Share Lease:
If you are willing to sign a 5 year lease (sub lettable after 1 year, with approval), and pay a premium over the standard rent, you will share in the equity growth of the property over that time. The owner is even willing to backdate it to when first purchasing the property ‘off the plan’. This could mean instant equity for you, the tenant.
Cheers,
G
