Would you buy an IP with a six year lease ?

[Trying2Learn]

Thank you all for your opinions.

Yes I feel we are a little new at this whole IP thing to be going down this path. Maybe if we where experienced and lived in the same state I may just may have given it some more thought.

In a way I knew it was not for us but sometimes you just need other peoples opinions who have been there and done that.

Anyway here is the link if anyone is interested, it's not for us but it may be for someone !

http://www.realestate.com.au/cgi-bi...mt=&header=&cc=&c=26628015&s=sa&tm=1222253610

 

[mystery]

We are ready to buy our first IP and all of your knowladge is fantastic. Maybe I was just surprised to see a house with a tenant for 6 years and a little happy not to have to find one all the time

Normally how regulary do you inspect an IP ?

Tenants aren't that difficult to find at the moment and it doesn't look like being a problem for some time as we have record low vacancies. We own several IP's around the country and finding tenants has never been an issue over the years, so don't let that worry you.

I'd avoid the annual rent increase according to CPI clause, .... you could lose out big time with this one. Rents are rising way above CPI at present, .. by the time the 6 year lease is up you could be BIG bucks out of pocket. You have to get a PM to manage this one if you go ahead otherwise you are taking a huge risk.

Look, ... she is dictating all the terms here, .... Remember, you are the one making the repayments and providing housing yet she expects you to shutup and stay in the background. My advice for what its worth ... run away as quickly as possible .... I reckon this one will end in tears if you go ahead.

Plenty of great deals out there with less hassles .....

Martin