Hi guys.
We not long ago bought a 7 AC property which is sort of in two 1/2s . Down one end is a big new shed and an old dairy , all with sea views and a completely seperate entrance.
What would we be best to do with that section .
We could either rent it all out [ which would bring in round 3-500 PW eventually forever , devalop it up and sell it off . lt’d probly be worth round $250-300 right now cleaned up and sold of likely alot more but l’d only be guessing.
We are thinking keep it because it’s a good p/t wage rented even through retirement [20 yrs time ] selling means we’d only get a one off and would need to find something else to set up the same income but- that would payout our mortgage with spare – owe $160. We think good equity plus get the rents forever seem like the best long term option but l don’t know that much about investment in that way , there could be a much better way to use it .We also have another 3 ac section at far end l’ve asked about here but that we’ve decided to keep.Mkc.
I would rent it out as you can always use the equity from the property to persue other investment opertunities later down the track. Plus, with your investment so close to home it will make it easier for you to manage it.
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