Student accommodation investment

[Marmoura2001]

Hi everyone,

I am actually looking to buy my second investment property as a student accommodation which can be holiday let as well. The reason I chose this is the very high rental yield.
I am now facing a problem of difficulty in financing the mortgage despite that The unit size is over 50 m2.
Does anyone know a lender that would finance that kind of property with a LVR of around 80%? I am using a broker but he still didn't find me a suitable lender yet.

Your help and shared experiences would be highly appreciated.

 

[Aaron_C]

Postcode? Zoning?

 

[Shahin_Afarin]

Whats the exact size? is it fully self contained? how many units are there in the complex? what is the postcode? are there any restrictions in o/o? do you have a COS?

 

[Marmoura2001]

I do have a cos .it is in broadway ultimo NSW 2007 size is 53m2 . Management is by unilodge but I can rented it out myself. It does have a kitchenette with a microwave but not a full kitchen. It is a loft style apartment with a strata title of 4 occupants .

 

[Shahin_Afarin]

Email me the COS and the management agreement and I will take a look. Does it have a laundry and bathroom?

 

[Marmoura2001]

I did forward you the contract of sale . I live in Melbourne and I wish to get a LVR of 80%.

 

[Marmoura2001]

There is only a bathroom but there is a common huge kitchen and coin laundry facility in the building in each level.