We've finally done it. We've bought a commercial property.
It's a small one, in rural city. Two shops, the larger one on a long lease, the smaller one much shorter.
When both shops are let, it will be returning 13% (after all acquisition costs)- if the short term unit doesn't get relet it will be down to 9%.
Cost was $200K.
Thanks to Nathan for sourcing this deal- we're happy.
We were after cash flow due to my employment situation (ie I have none), and were restricted in the funds we had access to. This fitted in well with our needs and resources.
It's a small one, in rural city. Two shops, the larger one on a long lease, the smaller one much shorter.
When both shops are let, it will be returning 13% (after all acquisition costs)- if the short term unit doesn't get relet it will be down to 9%.
Cost was $200K.
Thanks to Nathan for sourcing this deal- we're happy.
We were after cash flow due to my employment situation (ie I have none), and were restricted in the funds we had access to. This fitted in well with our needs and resources.