Hi All,
Can any one tell me how you can turn a negative geared prop into positive? I have a IP at the moment which I purchased 4 years ago. I have done the sums and the only way is to increase the rent to an amount that no one would pay.
Using the search function helps answer this question, but FWIW…..
https://www.propertyinvesting.com/forum/topic/14470.html?SearchTerms=turning,negative,into,positive
gogo – you need to add something to your place to make it worth more to rent. foxtel, garage, another room etc etc
Increase rent or reduce debt. Reducing debt will also reduce your Cash on Cash Return.
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or both
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I agree with all these suggestions. Reduce the size of the debt and enhance the property to attract more rent. It really is that simple.
If this is not immediately achievable, then make sure your are claiming all your allowable deductions. I’ve two IP, one with a Quantity Surveyors report, the other without. We are also about to place our PPOR on the rental market with a Quantity Surveyor undertaking an inspection shortly. Although it costs around $400, it is money well spent to ensure I claim all allowable deductions.
cheers and happy new year
[sunny][jester][guitar][drummer][juggle][smash]
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