wanted to know whether buying a holiday unit as a first investment is a good or bad idea.The unit i looked at could be negative or positive geared at a 50 percent occupancy rate.last 7 yrs averages 58 percent.
t.c.butterfield
Trev
This gets posted every now and again here… the general consensus is ‘no’, but remember it all depends on your personal strategy..
The Unit you looked at, you haven’t posted any details of costs etc associated and the deal.. hard to give an opinion..
Whatever you do, you have to be ‘comfortable’ with your decision and have decided on a course of action based on many things..including risk level,age, what you expect/want from investing in property..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
trev, are you working out the neg or pos gearing based on income versus interest, or have you factored in mgmt fees, cleaning fees, rates, etc. etc. etc.?
Cheers
Mel
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