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  • Profile photo of REDCARDREDCARD
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    Join Date: 2002
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    June 12, 2003 - 1:13 pm

    quote:

    For example, if you’ve claimed 100 dollars over the life of the item as depreciation, you have to put that back when selling. Would you know anything about this.

    No, not quite correct in Australia with properties bought at this time BUT there is some truth to it in New Zealand under clawback.

    Profile photo of REDCARDREDCARD
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    June 12, 2003 - 1:08 pm

    Look harder, they are there.
    For example the one you said would need a 50K deposit could still be wrapped to the right buyer to generate positive cashflow with minimum deposit. It’s just a matter of matching the problem to the solution

    quote:

    Hi again guys. Re Cootamundra, I have spoken to a couple of Real Estate agents in the area and have been told that a decent property will cost $100–120000 to buy and should rent out for $140-160 a week. By these figures it means I would have to put in approx $$50000 as a deposit to make it +ve (thats also allowing for rates etc). What are your thoughts on this. I’m struggling to find cash flow positive properties [:(]

    Profile photo of REDCARDREDCARD
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    June 10, 2003 - 3:40 pm

    Dear Ish,

    Why are you assuming that just because there is a 12 month lease in place you cannot increase the rent. A lease is just a contract that both parties can rescind (or void) if they want to. You would probably want another lease in place first. Perhaps they need a washing machine that you can provide and in return increase the rent by $10 a week. While your adjusting the lease put a 5% automatic rental increase each year. And as an incentive if they stay for 3 years you could give them the washing machine. This may not apply directly to your situation but take the principals and fit them to your circumstances.

    Wishing you well.

    Brad

    Profile photo of REDCARDREDCARD
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    June 10, 2003 - 2:57 pm

    It may be possible, depending on the situation, to sell the investment property into a trust at the market value giving your father the cash to pay his home loan off. Check the viability of this as there are stamp duties etc that must be taken into consideration BUT it can be done, just seach till you find the right advisor

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