PRG (Project group)

[WebBoard]

From: G V


PRG is selling property in selected locations of sydney . These properties have Govt. guaranteed lease for up to 10 years. (add says no vacancy ,no management,no maintenance,no risk etc.). Is it worth looking . any info would be appreciated.

Thanks

GV

 

[michaelg]

Reply: 1
From: Michael G


Find out who the tenants are.

If they're Dept of Defense employees, then this company must be upping the margin somewhere (possibly) and selling you DOF places.

For such a long lease work out;

- how much the property management fee is (normal is 5-10%) anymore and they are loading it with something else.

- how much the property price is compared with houses in the area. Get the details of the house, and ask some agents in the area how much a 3bed/2ba with 2garages cost etc.

Michael

 

[WebBoard]

Reply: 1.1
From: Sergey Golovin


Sounds like it is Holsworthy site, Liverpool, Sydney?

What's wrong with them? Is the Army still there or are they on the move.
Who are they rented to - to anyone or the army?

Serge G.

 

[WebBoard]

Reply: 1.1.1
From: G V


Hi,

They are 2 bedroom units @ summer hill,west ryde and homebush west for govt personal. all very near to railway station. Units @ summer hill are 355000.00 range(blown my budget). Expected rent 320 - 340 weekly. It is residential plus commercial. there are about 26 units. expected to be completed in 15 months. half of them already sold off the plan.annual increment of 4%. units @ west ryde around 300000.00 .ex pected rent 300 - 320. I didn't ask further as i was not interested.

GV