I paid cash for a coastal property, which is negatively geared, being a section only and have $280,000 equity. I have no income as yet with money in the bank. How do I proceed to purchase rentals to give me immediate equity, therefore balancing my negatively geared /capital gain section?
As Rove McManus would say- “What the?”
If a house you paid cash for is negatively geared you must have a really shabby yield…
I didn’t quite get your post properley Jill, could you rephrase it?
I think Jill means it is land only as she has referred to a “section” so there is no rental income.
Wake
Yep, sorry guys, this is jill from Whanga and it is only a section so can get no rental from it. Have thought about getting 3-4 rentals to offset this and then proceed to build with the profits or rent out the section in the summertime as casual living. Still does not help me with how to start getting those rentals though, with having the bulk of my money tied up in the property.[blink][
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