- Originally posted by Melodie:
Well.. now I dont quite know what to do.. I have been made an offer by an investment company who want to pay me a bit over half now and the balance in 2-3 years.. I guess I would technically be wrapping this property but the difference in their offer to what Ive seen as the normal model is that they will cover the rates and the maintenance on the property..
Now to me this is like a win situation..I get some cash now that I badly need and have a bit more sitting waiting for me in the next couple of years. Im not sure whether I can still use the property as leverage for further investment and will look into that but Im just a bit hesitant..
Something about if it sounds too good to be true it just might be?
Any feedback/opinions would be appreciated
MelodieMelodie,
I guess the question is, is this right for your circumstances ?? If by doing this deal will you be unable to do anything else for the next 2-3 years ?? if that what you want if that is the case ???
Would suggest that if you DID go ahead with this deal, you probably would not be able to further leverage the property for other deals….
Hope this helps…
Cheers
Scott
Pelican Investments
http://www.pelican-invest.comFirst: Thankyou to the Moderator!
Thankyou Pelican and advisor for your advice..
Ive now had another thought..
I own the house and the vacant block next door and was selling both together..but am now thinking about splitting them..using the sale of the first property to build on the second and wrap that.. (or sell if it makes sense at the time I guess)but Im still reading this site and all the info so its all really a bit moot..am doing NOTHING now till I know what Im doing…
I turned down the investors btw.. they wanted me to reduce the price [comp] and after reading your comments and knowing the property isnt overpriced (in fact a little under) I decided not to.. thankyou again
MelodieM
You must be logged in to reply to this topic. If you don't have an account, you can register here.
