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  • Profile photo of avidreaderavidreader
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    @avidreader
    Join Date: 2003
    Post Count: 4

    hi, i’ve recently moved here…… WONDERFUL weather isn’t it? i wondered if any ballaritians may wish to get together and have a coffee/chat/etc?
    grace[8D]

    Profile photo of avidreaderavidreader
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    @avidreader
    Join Date: 2003
    Post Count: 4

    thanks soleil

    where’s the town that the units were in?[8D]

    Profile photo of avidreaderavidreader
    Participant
    @avidreader
    Join Date: 2003
    Post Count: 4

    Fabulous idea sooshie
    Generosity of spirit breeds generosity of spirit. I guess you reap what you sow. Hope you reaps heaps of good deals from your good idea[;)].

    My two bobs; if we can’t use a good deal, why not pass it on?
    Thanks.

    Profile photo of avidreaderavidreader
    Participant
    @avidreader
    Join Date: 2003
    Post Count: 4

    hi,
    i may have misunderstood you but you seem to be saying that you would have the mortgages on your home and current property to buy a comm outright.

    you can only borrow 70% of the value on commercial loans but it makes much more sense to keep the bulk of your equity in your home and mortg the comm.

    long term tenants do exist; banks etc but those properties are usually much more than a mill. you have enough equity however, to borrow much more provided the rent meets the repays.

    as comm usually pays more than a neutral, with a ten year lease it would be a good option.

    i have two commercials, one with 6 tenants and another with a single tenant. the risks are greater but so are the returns. my first property returns 16%. i live above the second one, and the rent is very healthy but the potential is for it to increase to about 15%.

    myself and i would be very careful initially. do some surfing, commercials sometimes are surprisingly cheap.

    onwards and upwards[8D]

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