Caretaking Only Entry with Huge Multi Upside Potential - ID 8175

No Rental Management, Secure Salary, Minimal Hours

Caretaking management rights, Main Beach QLD

- All permanent residential building with 11 units managed by outside agents and 13 lock-ups.
- No rental management - caretaking only, supported by a strong and stable Body Corporate salary of $88,178 plus GST, indexed annually to CPI.
- No requirement for a real estate licence, no trust account setup, and no property management software - resulting in almost no additional operating costs.
- Substantial upside potential through expanding the rental roll and earning sales commissions if the new manager holds a real estate licence.
- No fixed office hours and very simple caretaking duties requiring only a few hours per week.
- 10-year agreement with 9 years remaining and a very cooperative, friendly committee.
- Net profit of $96,352 with multiple channels of significant income upside potential, including adding your own rental management, property sales commissions, repairs and maintenance income, whole-site redevelopment potential with outstanding future upside.
- Very spacious manager's residence featuring 3 bedrooms, 2 bathrooms, 1 secure car space, a private courtyard, and a balcony with ample storage.

The best location in Main Beach on the Gold Coast - walking distance to famous beaches, parks, restaurants, clubs, and public transport. Secure substantial and easy income growth opportunities with a relatively small entry-level investment. Total price only $2,100,000, including a 3-bedroom apartment in prestigious Main Beach.

Net Profit: $96,352
Asking Price:$2,100,000
(Inclusive of Managers Real Estate)

More Information

Financial Overview

Total Purchase Price: No Rental Management, Secure Salary, Minimal Hours
Net Income: $ 96,352 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,700,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: undisclosed
_{Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.}

Letting Business

Letting Pool: TBC
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 0
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: TBC
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 88,178
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 10 years
_{How long is the caretaking contract.}

Agreement Remaining: 9 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 48 years
_{How long has the management rights existed.}

Office Hours: No set office hours
_{Required Office Hours}

Complex Features: Pool, BBQ

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 1,700,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

Office On Title: 0
_{Is there a manager's office included on the title?}

Pets: No
_{Can the manager own a pet on site?}

Unit Features: Spacious apartment features 3 bedrooms, 2 bathrooms, and a secure car space.