How can I sell my unit

Hi,

I have been trying to sell my unit at the Golden Door Health Retreat, Willowvale, Qld for quite a while now. I have tried just about every avenue I can think of.

Any ideas?

It has guaranteed rent for the next 4 and a half years with a further 5 yr option. Rental return is $12000 p.a - indexed to CPI.

Adam - 0412 285 863
adam_laura@optusnet.com.au
 
Hi Adam,

Firstly you could post details of the property in the Caveat Emptor section of this forum. If the numbers stack up for someone you might just get a buyer.

Why do you want to sell it? You need to find someone that thinks of the negatives for you (maybe poor CG, maybe poor yield) as a positive for themselves. ;)

Cheers,
Chris
 
Dear Adam,

Everything can be sold at a price.

Couple of ideas:

1) Is your sales price realistic? Would you buy at the price you are offering for it? Should you review your expectations?

2) Is the agent performing? If the agent has not performed then look at another one in the local area who seems more proactive. Agents often get bored with properties that don't sell quickly and their negative attitudes and/or lack of energy may actually be inhibiting the property being sold.

3) Negative tenant. Generally you will find that an existing tenant does not want a property to be sold. Why? Is comes down to a big inconvenience on their part having people invade their privacy at no benefit to them. Often they are also afraid of what the unknown will bring ----- Will the new owner increase the rents? -If so by how much etc.....

A way around this has been to offer an incentive to the current tenant so that they not only present the premises in the best possible way at all times but also to give the potential new buyer the right impression that the are a great tenant and therefore an asset to the potential buyer. Maybe a rent reduction for a period or ..... a new fridge or dishwasher that they can use and be an asset to the future purchaser?

4) Vendor Finance/Wrapping

There are always potential buyers. If you can provide vendor finance and don't need the money immediately then by providing finance you can normally get your full asking price. Do some searches on vendor finance/wrapping to find out more.

5) Put it up in the Caveat Emptor section. It may fit in with one of the groups strategies here at the right price/deal.

6) Should you be selling? Has your original strategy changed from when you purchased it? Is it worth paying the agents commission and associated govt charges etc just to exit the property?

Remember property is generally a long-term investment strategy. Costs add up when you chop and change.

Let us know how you go.

Cheers,

Sunstone.
 
Thanks for the comments. The lease is with a company that operates the Golden Door Health Retreat. No permanent tenants - just permanent income! Why do I want to sell the unit - I don't get to Queensland too much to capitalise on the 4 weeks use as accomodation or one week on a program at the Retreat (worth over $2000).

I'll keep trying
 
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