Well done Geoff. I'm wondering how long it took Nathan to find and why he didn't snap it up himself. If he had his matches with him he might have got it for much less.
Haha. His series of youtube videos on these extreme reno's is great.
Going Commercial
- Thread starter geoffw
- Start date
Haha. His series of youtube videos on these extreme reno's is great.
Congrats Geoff - sounds like a nice one!
I need to add to this that its in a bad area. I didn't buy it sight unseen- I wouldn't be buying a resi property there. But one lease at least is solid, and the tenants are the ones responsible for all upkeep- it's a takeaway food shop, and it's in their best interests to keep it in good condition.
http://www.realestate.com.au/property-house-sa-booleroo+centre-114154155
Not for me,but the cashflow.....................................
Not for me,but the cashflow.....................................
Sounds good geoffw,you can always look on the upside if the takeaway goes belly-up you can always start the Taco Franchises from your own freehold propertry,,good luck..
Congrats Geoff! Big step, but after Flock of Bats I guess not too much to scare you any more
It was a pity about the Flock of Bats. They were really good. But they had to go to give way for another opportunity- the second Subway.
$440pm combined for all 3 is how I read that? Not exactly rolling in cash.
How much was the buyers agent fee to find the property?
That's what I was thinking as well. Only 8.9% yield in a small place with limited growth doesn't seem that great to me.
That's what I was thinking as well. Only 8.9% yield in a small place with limited growth doesn't seem that great to me.