I bought a 4 b/r brick place a couple of years ago at Berwick (Vic) and now I want to sell it for around $310,000. It gets around $260 per week rent.
Should I sell it and get a similar priced place, but in a small town, that gets $500 per week rent or hang on to it?Jake
Can you keep it and buy another one?
A popular starategy is buy and hold where properties are kept and used to fund additional places. Whilst the rent isn’t high Berwick might be a place where you will get steady CG?
Cheers,
Simon Macks
Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Jake
It may be possible to turn your negatively geared property in Berwick into a positively geared investment by selling it using a vendor (seller) finance technique. Have a look at:
https://www.propertyinvesting.com/strategies/wraps.html
https://www.propertyinvesting.com/strategies/lease-options.html
and
http://www.financewraps.asn.auHow much do you owe on the property?
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
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