There is a deal on propertybillboard which 'sounds' good...although this is in an unheard of suburb called Maraenui in Napier
Any feedback appreciated.
DEAL details (copied & pasted):
2 x bedroomed unit above a retail shop which is currently vacant.
unit is rented out for $220 per week, giving a huge 11.4% return!
imagine if you lease the shop out.?
purchase price $100,000
deposit $5,000
settlement 20 days after unconditional date or by mutual agreement.
assignment fee $3,500
unit has 2 double bedrooms with balcony off both bedrooms, lounge and kitchen with rear balcony.
lower story includes bathroom and shop.
used to be fish and chip shop, and has large workroom and chiller.
lots of options here with major upsides.
1.keep as is with shop vacant and enjoy 11.4% return
2. lease shop out and increase cashflow considerably
3. convert lower level into another residential unit and double yield
Any feedback appreciated.
DEAL details (copied & pasted):
2 x bedroomed unit above a retail shop which is currently vacant.
unit is rented out for $220 per week, giving a huge 11.4% return!
imagine if you lease the shop out.?
purchase price $100,000
deposit $5,000
settlement 20 days after unconditional date or by mutual agreement.
assignment fee $3,500
unit has 2 double bedrooms with balcony off both bedrooms, lounge and kitchen with rear balcony.
lower story includes bathroom and shop.
used to be fish and chip shop, and has large workroom and chiller.
lots of options here with major upsides.
1.keep as is with shop vacant and enjoy 11.4% return
2. lease shop out and increase cashflow considerably
3. convert lower level into another residential unit and double yield
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