I am just starting to look into real estate after reading Steve’s first book. I have been looking around and have seen a few storage boxes and carpark spaces which potentially offer positive cash flow. What are your views in regards to investing in these areas? Also, with the first home buyers grant do you think that it would be wise to forfeit it to buy a storage box or carpark space as I only have about 10k at the moment for a deposit and closing costs etc.
Misconception – If you buy an investment property it does not stop you from applying and getting a First Home Owners Grant, as long as you never lived in the property.
Storage Boxs/Carparks – good cashflow, because they are harder to sell, and also harder to finance.
Take student accomodation – it is very difficult to finance, therefore harder to sell, therefore it sells below its real value, meaning fantastic cashflow.LVR will be low, and tie up you equity, when you could get greater leverage somewhere else.
Regards
JohnInspired Finance
(02) 9944 7776On the topic of storage sheds etc etc.
How would one go about setting up a piece of land with sheds on it.
I assume you would have to get approval to do this. Say you have a piece of land in an industrial area and chuck 30 sheds on it and rent it by the month. You could have crazy CF+ parties. How hard is it to do this? Is it a long process. I guess it would differ from council to council.
With a normal residential property, you could add storage space via the addition of one or two sheds, available cheap from stratco or other businesses. This can add something to the weekly income and also increases the value of the property by way more than what you have spent.
Christopher Fife.
Hi Benny,
I bought a 2 story storage unit/ office about 18 months ago.
It is in a block of 72 in Campbellfield vic.
They are harder to sell but none the less selling and offering positive returns.
Mine is valued at $41,000 and rents for between $70-$90 per week with the tenant paying all the outgoings.
It is also on the market if you are interested.Regards
FrankHi all
I read / watched ? can not remember an article recently on storage. I am pretty sure it was on telly.
Seems to be an excellent business as demand is increasing, though specialised units are the way to go – business doc’s storage / wines storage (needs climate control )/ house hold items etc. Hubby looked into them for boat storage, no undercover boat storage available in perth (there’s an idea!)
I have been looking to purchase one thru my super fund , to rent it to my trust – to store the furniture I have purchased to dress up my reno’s for sale.
I have tried the internet / papers? where are they listed?
celeste
Hi Celeste
What area do you live in?
Regards
FrankHi Frank
Bullcreek in Perth
Celeste
Originally posted by freeman cooper:It is also on the market if you are interested.
LOL
Regards
JohnInspired Finance
(02) 9944 7776
You must be logged in to reply to this topic. If you don't have an account, you can register here.
