Forum Replies Created
You are better off going for public trustee sales.
they have to be identified and not all agents get them.
Byronent
Adelaide SANO my previous post didn’t indicate that. The tenants were on monthly leases so I doubled the first chance I got.
Is the lease in the name of the company or persons selling?
Byronent
Adelaide SAHi Jo, it has been a long time.
Nathan, what kind of trees.
I have some Paulownia and so far so good. Although I am still waiting on returns, they take 8-10 years
Byronent
Adelaide SAI bought some commercial shops a while back and I had 3 tenants out of 11 shops to start with.
Settled on the deal and doubled the rent instantly. Lost one tenant and kept two. Renovated two of the shops and now have 6 tenants and 2 shops to rent….(i got lazy and didn’t finish).
In short, Rent can go up and either your property is over priced or the rent is not being charged for whatever reason.
I would compare pricing on similar places or get a real valuation
Byronent
Adelaide SASpending on your home is investing in my eyes.
I have the same issue with mine, hasn’t stopped me moving forward though.
Byronent
Adelaide SATrust can claim negative gearing even though you are the trustee, it is a seperate entity in the eyes of taxation. I am not sure how this will help your problem.
I would like to see numbers go with this query, at this point too hard to help on info provided.
Byronent
Adelaide SAyou have to look at that exchange rate
interest rate is good but you can’t predict what your repayments will be due to the constant foreign exchange rates.
Byronent
Adelaide SAA business associate of mine has 20 sheds on a property he does quite well out of.
One major issue he had was when someone left and neglected to advise the agent.
What he installed to overcome this was an electronic system, like a swipe card. He changes the codes each month or if someone is in arrears with their rents.
Your management system is crucial on something like this.
Byronent
Adelaide SAWho slapped that on you?
Byronent
Adelaide SATouche Jo.
Where is the 4×4, I am into weird ass deals.
I have a round/oval 3 storey place and a wooden Canadian Challet built here in SA. A tent would make my portfolio perfect.
Byronent
Adelaide SAWe own one in WA and I would never buy another.
The returns are not guaranteed, you are relying on tourism and the licence holders of the hotel.
The banks don’t like something you can’t tenant yourself and do offer less with respect to that kind of security.
Also the size, tell me it is over 50m2.
I would buy something else if you want my honest opinion. The only reason I would even consider it, is if I was taking holidays in that area and wanted a few weeks a year there at no charge.
Byronent
Adelaide SAYou used the wrong term there straight away.
Cheaper is a very bad word to use in the same sentence as asset protection.
Get the best setup you can get for you and pay what it costs. You will never regret it.
Speak to a Solicitor that charges for his services not an accountant that really should know but may not.
Byronent
Adelaide SASell the land to another entity you control and then do what you like as there will be no action on the third party by anyone.
Ask your solicitors that. May cost you in stamp duty, but wow, it will save you legals and any potential headaches. Just make sure there are no restrictions on the title that you should be holding in your hand right now.
Byronent
Adelaide SADepends on lots of things.
What you paid? When you bought? Income you earn?
I would speak to an accountant to find out what the tax implications are for selling and what that would cost you.
Remembering if you do refinance working on 80% of market value, leaves you $480k available less current loans and costs.
So you have a nice amount to start focusing on cash flow positive deals.
In your circumstance I wouldn’t sell from the information presented. Happy investing.
Byronent
Adelaide SAAnubus: I can get a 2/3 bed house built for as low as 60k. That doesn’t include floor coverings, landscaping, air con. Just to lock up stage which is dam cheap. Steel frame home also.
Anyway back to your question Noxford, I would seriously consider doing as you suggested however the only difference for me would be to sell house number one and maybe even unit number 1 keeping only unit number 2.
That would only be to pull my cash out of the deal, reducing my committment to that property. You won’t have a capital gains bill if you do it right and you would be returning about $180 a week as you suggested.
So in short, House and units would be worth $300k. You should be able to get close to what you paid for the house and less land, and I am guessing you would get around $80-$100k for the sale of unit 1. so you would be recouping around $250 in sales leaving unit 2 owing $50k ($300k – $250K) and returning $180per week. That does pass the 11 second rule and a healthy return.
Don’t quote me on all figures, just a rough working based on your numbers.
Byronent
Adelaide SARoxby I would take any day, at least 20years left up there, Whyalla any day, but Pt Pirie, unless something is happening there under the table, I would just walk on buy and even consider Port Augusta first.
Mogul, I had the same problem at first but I started climbing in windows and evicting them physically. I only have great tenants now and in 8 years only been to tribunal once.
I started my property purchases in Salisbury and that was similarly priced as you mentioned. I am sitting on great returns and have found a great property manager based in Kent Town.
Mayo & Co on Rundle, Chat with Kirsty if you are keen to check their services, they really give that personal touch in a major city.
Byronent
Adelaide SABuy it!
Or pass on the details and I will buy it.
Byronent
Adelaide SAHow long is a piece of string.
Depends on where it is, style, size, material used to build.
I have seen homes as high as a few million dollars just cause they are on the water.
You need to give more information. Like location or style of home etc.
Byronent
Adelaide SAYou will get mixed responses to this one.
It really depends on what part of Whyalla you are looking.
There are four parts if my memory serves me correctly.
Byronent
Adelaide SA
