I have come across a good cash flow +ve property however the roof is asbestos, the property is showing about 21% return on my calcs just on the cashflow alone.
What options are available for asbestos roofing.
Stephen….
Hi,
Providing you don’t have to touch it to do repairs/mods etc it’s okay so have it THOROUGHLY checked out by a builder who is experienced with asbestos roofing to ensure it’s intact prior to purchase. It will be a long term liability to consider as well, but a pretty common one for older places.
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MelHi ya,
Our first IP has an asbestos roof and is returning a healthy cash flow. I must say I was almost put off by the fact it has an asbestos roof but I have family living in the area that I bought in and they assured me that renting it would not be a problem (which is hasn’t been so far). They look better with a lick of paint also. I was told between $3000 -5000 to cart away existing roof and replace with a tin (not colourbond) roof which a few people in the town have already done. I am talking WA though, could be more expensive in the east. I suppose when it comes down to it you need to look at your investment goals and weigh it all up. Happy investing
suzieq.[
]Thanks for that everyone. It has given me some food for thought.
I just bought a fibro house, that didn’t look like it – it looks like that wide weather board that a lot of new units are built of these days. When i found out I thought ‘EEK!!” and asked the lawyer and the builder’s report guy should i be concerned.
‘it’s only a concern if you want to reclad the house’. ‘Will I want to reclad the house in the next 20 years?’ ‘probably not, that stuff lasts for donkey’s’ was the answer. it’s even OK to repair it, the repairs are just stuck over the top with a non-asbestos modern equivalent.Worth checking though if the local council has any laws such as ‘all asbestos must be removed by the year 2010’ or something..
cheers-
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