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]Like any property investment, real good deals in Commercial also come along. We bought a commercial property approx 15 mths ago for $155,000, as a going concern, therefore paid no GST up front. (We stayed registered for GST for only one year, so no longer have to submit 3 monthly GST reports).
After spending $23,000 on the retail outlet we received $420.00/ week in rent. We then constructed a commercial workshop at the rear at a cost of $65,000 and will rent that for $150.00/week. Our next project is to turn the scungy upstairs flats into bright/light studio appartment and rent them for $100 each/week. Cost to do each appartment is $20,000. For a total outlay of $283,000 we will receive $781.00/week. As this is part of our self managed super fund it is not mortgaged.
The income from the property is invested into shares.
]Like any property investment, real good deals in Commercial also come along. We bought a commercial property approx 15 mths ago for $155,000, as a going concern, therefore paid no GST up front. (We stayed registered for GST for only one year, so no longer have to submit 3 monthly GST reports).
