Sale and lease back

[NSWinvester]

There's a couple properties available in Parramatta for sale and lease back.

Sale price 260 000 and weekly rent is 360 Garunteed, one draw back is that you can't live in this property, you have to lease it back to hotel.

The hotel pays all strata and council rates.

Has anyone actually done this? and is there any useful hints you could give me? E.g. hidden costs involved

I know it's harder to get finance for small apartments.

 

[Carlin]

Check the strata and probably high management costs. Also the banks might not want to play ball if the size is less then 50sqm and/or it being under such a lease.

 

[NSWinvester]

I'm going to see a solicitor to clarify a couple of things tomorrow