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Thanks Lucifer and Ibuycashflow.I appreciate the advice. I did manage to speak to the current tennant he pretty much said he wouldn’t be renewing the lease. So forget it, its too much of a risk. I’m not confident enough that I will be able to re- lease it in 12months. I’ll have to keep hunting for something with a more solid lease.
I’m still learning, so really value the good advice that can be found on this forum.
Cheers
Amanda123Hi Yack
I take your point and read the forum you directed me to. Yes it put the fear of God in me!, it worked. But is that being too conservative?? The place I was considering was a commercial property and to be honest the kind of return it offered far exceeded the sort of return a Sydney commercial property would offer. When you read about people’s property portfolios and their great success stories they seem to have accumulated property all over Australia from New Zealand to Newcastle eg: the feature story in last month’s property investing magazine. Maybe being such a beginner as I am, it would make sense to stay closer to home but then I feel that I am not going to end up with anything, well nothing thats cashflow positive anyway. The other thing is that I guess trips taken to look at investment properties can be a tax deduction… maybe a small consolation!Cheers
Amanda123
