澳洲Australia property Reassurance | Sydney


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Hey everyone,

I'm looking for my 2nd IP and have found 1 I am quite interested in. I was looing around for a crappy house on a large parcel of land but a 2 bed apartment from a deceased estate has caught my eye.

The apartment is in a complex of about 30 with nice views. It would be cashflow nuetral at worst, at a very reasonable price and I can see some good short - medium term capital gains with an easy cosmetic reno and also the price of the suburb going up.

The problem is that it is a smallish bit of land, large complex and has an elevator. 3 things which usually dissmisses a property from my thinking right away. I'm not to sure what the strata fees are yet.

I'm not to sure if I should continue to pursue it  

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How would you know it's cashflow neutral if you don't even know what the strata fees are?  

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I used an amount that I have seen on other apartments in the same suburb of similar size  

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Do those other comparable blocks have elevators? That always worries me. Elevators need replacing eventually and it's expensive.  

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They do

I know, it does worry me.

Everything besides complex size, block size and elevator ticks the boxes
Location is excellent, yield is around 6.5 - 7% without a reno, good growth outlook and low vacancy.  

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Lynchy said: ↑
I'm not to sure what the strata fees are yet.
I'm not to sure if I should continue to pursue itClick to expand...
Well that's the problem, you really don't have enough information to make a quality decision.

Not only do you need to know the strata fees but you also need to know:
1. The balance of the sinking fund
2. The balance of the admin fund
3. Whether or not they have any strata levies planned etc.

For example they may have $100K sitting in the sinking fund which would be lovely to have a vote on as a member of the BC, to spend on an external reno. Or they may have a quote for a new roof that needs repair shortly for $50K and have $2K in the sinking fund to do it. So a strata search is in order, IMO.  

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Propertunity said: ↑
Well that's the problem, you really don't have enough information to make a quality decision.

Not only do you need to know the strata fees but you also need to know:
1. The balance of the sinking fund
2. The balance of the admin fund
3. Whether or not they have any strata levies planned etc.

For example they may have $100K sitting in the sinking fund which would be lovely to have a vote on as a member of the BC, to spend on an external reno. Or they may have a quote for a new roof that needs repair shortly for $50K and have $2K in the sinking fund to do it. So a strata search is in order, IMO.Click to expand...
Thanks Prop

How does 1 do a strata search?  

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