need number crunching

Viewing 4 posts - 1 through 4 (of 4 total)

freeman cooper
Member
@freeman-cooper
Join Date: 2006
Post Count: 115
June 11, 2006 - 11:15 am
Hi Guys,
I have a storage unit that I am considering selling or keeping.
It is worth $40,000 and similar units rent between $60 and $90 per week in the complex.
I have been using it for my business but will no longer need it in 1 month and would like to liquidate it. However if the numbers stack up I may keep it. Can someone crunch the numbers and let me know how this stacks up as an investment.
Stuart Milne
Member
@stuart-milne
Join Date: 2006
Post Count: 196
June 12, 2006 - 4:09 am
At $90/wl with a Value of $40,000 it is returning you 11.25%
At 60/wk around 8% what does it cost in Body Corporate fees, insurances and rates per year?
Does it owe you any money? If not & you have no need to divest your asset then why go down that road?
$90/wk when it owes you nothing is a bonus. That could be used to purchase another I.P. if you structure it correctly
Just some food for thought.
– Please remember I’m NOT a Financial Advisor and/or Planner and all that was general. As I don’t know your personal position I am unable to give anything other than general advice. This is what I have done.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055
LukeNeale
Member
@lukeneale
Join Date: 2005
Post Count: 28
June 28, 2006 - 1:46 am
The best thing to do is to ask for advice on how YOU can crunch the numbers. There really is no benefit in having someone else do it for you. 2 Reasons.
You won’t REALLY know that it’s worth keeping, becasue you’ll rely on what someone else has told you, and secondly, how do you know what they are saying is worth anything. I’m sure the figures are accurate, but I wouldn’t do ANY transactions until I knew for myslef.
It’s like the old addege> Is in’t better getting someone to teach you to fish, than someon ewho can go and catch you a fish.
Just a thought
Luke
LIVE ABUNDANTLY
John 10:10
js2
Member
@js2
Join Date: 2003
Post Count: 758
June 28, 2006 - 1:23 pm
Yep, provide more details of all the costs to hold per year.
How much was payed for i? what was the deposit to purchase will it be vaccant ‘x’ amount of weeks a year.
As many of the details as you can.
Can’t make any kind of investment decision with the numbers given.
.
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