I thought a few Perthites would find this interesting!!
Noticed in the Northern Suburbs Real Estate paper this weekend just gone that sales reps from Melbourne would be down at Joondalup Resort for 4 days selling OTP Apartments in Carlton from $178,000.
JUST HAD TO GO DOWN FOR A LOOK - thought the opportunity was one that I MAY like to jump in on BUT..... the apartments they were talking about were 26sqm, one bdrm dog boxes with no parking and were designed as student housing.
Yes the Body Corp was low, management fees low, walking distance to uni, city etc but of course they only had stock left which was priced from $213,000 upwards and they were marketing them in PERTH.
What astounded me was the amount of people who were actually signing up.......you'd have to have cash to play with or a lot of equity to borrow against I would think (as a lot of cashed up West Aussies do at the moment). Most lenders would not even look at financing them at that size!!!!
Did anyone else go for a look and what were your thoughts?
sq
Noticed in the Northern Suburbs Real Estate paper this weekend just gone that sales reps from Melbourne would be down at Joondalup Resort for 4 days selling OTP Apartments in Carlton from $178,000.
JUST HAD TO GO DOWN FOR A LOOK - thought the opportunity was one that I MAY like to jump in on BUT..... the apartments they were talking about were 26sqm, one bdrm dog boxes with no parking and were designed as student housing.
Yes the Body Corp was low, management fees low, walking distance to uni, city etc but of course they only had stock left which was priced from $213,000 upwards and they were marketing them in PERTH.
What astounded me was the amount of people who were actually signing up.......you'd have to have cash to play with or a lot of equity to borrow against I would think (as a lot of cashed up West Aussies do at the moment). Most lenders would not even look at financing them at that size!!!!
Did anyone else go for a look and what were your thoughts?
sq
