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 Mihaja Apartment, - Good place for investment?

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livingmonolith
post May 7 2008, 04:38 PM

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i think termites and water-leakage are more to individual units. if the tenant/owner maintains their units well, then there won't be such problems.

the last time i went to check out one, the entire wall looks to be having leakage problem, but i think it was bad because the owner didn't try to fix it early.

generally i think miharja's a good place for investment, good ROI, and easily rented out. i've rarely seen ads put out regarding rentals, and not a lot of investors are selling their units. i'm constantly looking at available units too, but am still holding back due to financial reasons.
livingmonolith
post May 8 2008, 01:19 AM

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i don't mind sharing the opportunity that i've lost...smile.gif

i was offered a unit on the 1st floor at 108k, already tenanted at 700/month. pretty good ROI if you ask me.

but i didn't take the offer because apparently the current tenant has some slight problem paying the rent punctually, and the entire wall has, like i said, water-leakage. if i was to purchase it, there'll be heck lot of renovation to do because i don't intend to keep the existing tenant, and no new tenants would want a unit with that kind of condition. while i think the unit can fetch a far better rental yield, i didn't want to take the risk especially in the renovations dept, the unit was is very poor condition.

pro as it's located on 1st floor, right beside the stairs, so there is no worries about the lift thing.

properties in miharja is only good for investments if you plan to rent out the unit for a very long term, because you clearly can't sell for a better price than you buy. leasehold btw, with 80 years left the max.

look carefully and wait for chances, you'll be able to spot some ads once in a while.
livingmonolith
post May 8 2008, 05:57 PM

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well, with that kind of maintenance fee, i don't think you're really expecting a lot right?

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livingmonolith
post May 9 2008, 10:57 AM

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well, i wouldn't say miharja is a lousy place to invest.

nice apartments don't come as cheap as miharja, and they aren't a lot of better locations compared to this area. there are constantly people looking for units to rent in miharja, and i would say it's a decent investment with good ROI.

not everyone can just go and 'buy' a nice property which costs an arm and a leg (literally), and expect to get a respectable ROI. or in a simpler term, some people can't afford to risk with properties at a higher price. i'd say miharja is affordable for investors who don't have a large capital to start with. even if you couldn't find a tenant, i think most investors would still be able to pay their monthly installment.

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