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Opinions pls:
i have a 1 brm Unit close to Sydney CBD – rents for $350 pw – I actually live in it at the mo and it’s my ppor. Once rented however, After all expenses it is neg geared for $1500pm – tax benefits to apply after this would get me down to around $600pm out of pocket.
Was valued at $350k 18 mths ago by bank – best bid i can get on it now is $320k. Debt is same.
Think it is best to hang onto – any other ideas out there?
Reason I initially wanted to sell is that properties I have purchased since (bought this in 99) are all +ve geared and that’s how i want my portfolio to be.
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