Hi guys.
I need a cash injection so l'm thinking of selling ashare in some duplexes , not sure if l could do that though.
There will be 3 in one , the end one is going to be more a bedsitter type thing with small yard and told will let out none stop at 80pw because there is very little in area for that price or in that type of thing yet high demand .
l'm thnking of selling say the bedsitter in share form . They get all that rent from the bedsitter plus a 1/10 share in the whole site which will have the whole duplex and block , valued at around 200 at present plus pay a 1/10th share in costs .
l'm thinking around 35k would be a fair price and quite cash positive for them at this years prices , it should only go up from there and there is nothing else they would have to do .
Could l do that and would that be a good price – m ore -less ?
Cheers
MaxSounds like it might be messy from a legal angle. Stamp duty on the transfer and CGT possibly, not to mention what this will do to the loan on the property – the new owner will need to go on the loan or at least guarantee the loan somehow.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks Terry.
Yeah l wondered about that angle and ofcause in this day and age what is basically a simple thing would be tangled up in garbage wouldn't it .l wonder how companies set up that side of things then , they sell shares in a site of some discription all the time don't they.
l guess the thing is structured that way from day one .Spose in my case it would basically just mean a second name on the finance and title , their share stated bla bla, sounds simple enough but –
Truth is l'd rather keep the lot if l could scrape through , much simpler , more for me later too.Cheers
Max
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