Anyway, if you can't help your family, what's the point hey ??
Aren't we couisins?
How much do we need to ante up?
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Anyway, if you can't help your family, what's the point hey ??
Right - so that is done....we're in like Flynn. Knew it would be quick.
Now it's straight into the specific and exclusive DD period before we have to make a final decision next month to sign the final Contract of Sale.
- Right smack bang in the middle of a Capital City.
- Term - 10 year Lease.
- Gross starting yield of 16.5%.
- Land value underneath worth half of price.
- 6 month cash Bank Guarantee
Nearly lost the deal by trying to be a smart-*** and offering a bit low which equated to 18% yield. No harm in trying hey ??
After all costs, all interest and all payments, free rent pouring into our pockets will be 10K per week for the next 10 years. That's fair enough for sitting on my bum doing nothing.
Capital growth - whatever comes along will be gratefully accepted.
Aren't we couisins?
How much do we need to ante up?
Dazz - well done. With a yield like that it makes its own CG. ..............
Right - so that is done....we're in like Flynn. Knew it would be quick.
Now it's straight into the specific and exclusive DD period before we have to make a final decision next month to sign the final Contract of Sale.
Or do you just put your best foot forward based on prior DD and knowledge of the property's expected valuation/worth...
Got told to "Go **** myself".
You've obviously been sleeping at the wheel while it happened.Do you not hold any fear tho of a comm meltdown in the US and it's results on the oz market?
After all costs, all interest and all payments, free rent pouring into our pockets will be 10K per week for the next 10 years. That's fair enough for sitting on my bum doing nothing.
Capital growth - whatever comes along will be gratefully accepted.
Ausprop....no I don't fear the GFC. I concentrate on specific title deeds and specific Leases and specific deals. I haven't got time, nor are big enough financially to worry about those global general things.
It never works though, they are all so enshrined and surrounded by advisers, they can't actually make a decision without at least 5 people nodding in unison in front of them. I'm yet to come up against a wealthy Vendor who actually had a pair. It'll happen one day, but certainly not in this deal. Wet fish the lot of 'em.
Out of genuine interest what happens in a situation like this if your tenant goes bust?
It sounds like a particularly niche piece of property, e.g. is not like a retail shop where a tenant can refit out the property to suit, it sounds quite specific.
If the land is only worth half what you're paying, if the tenant goes bust and you struggle to find a replacement this seems like the size of deal that could send the owner to the wall...
can you insure against such a scenario (e.g. like landlords insurance if contract is broken due to company bankruptcy)?
Do you personally check out the companies and their financials when you take on a deal of this size?
maybe thats why you looked at the deal in the first place.
The day it happens is the day it WONT pass your initial 'screening' test.
You cant have both, and why would you want to, you are on the receiving end.
Are you still planning on heading over here on your Harley this year? If I hear that you get here and don't call, I won't be a happy Perp.
..............I'd love to do a trip around the capital cities and perhaps give a brief chat to the SS crew in each state of how we do what we do. Only trouble is I wouldn't be there in a suit and tie.....people would have to get used to a big fat, hairy, smelly bloke who doesn't use polite English. Certainly not your usual polished slick presenter type. ..........................
Oh, please do kind sir. Come to Melbourne now; sweating ain't a problem here for the next five months so you'll smell nice.
We're laid back enough to excuse the absence of suit and tie and we want the content of the sausage, not the sizzle of slick presenters.
You are most welcome here
Only trouble is I wouldn't be there in a suit and tie.....