my situatioin: i have a property bought 6 months ago. if i sell i would get about $40k.
my options
1:
my idea is to sub divide the block and build the back and sell it. I keep the front for renting.2:otherwise just get plans and permit then sell it and move onto the next project.
it would be great if anyone can give me some idea. at the moment i earn $800 per week. and wanting to plan on retirement in 4 year.
any tips and hint would be great
Hi Kenle,
If you are planning on retiring in 4 years time you should forget about selling this property unless it is in a ‘dog’ of an area.
Any sale now will be eroded by CGT, agents fees and then stamp duty into the new property.
The critical issue you need to consider is how are you going to use property to fund your retirement. Generally speaking one property, by itself, is not going to cut the mustard.
Derek
[email protected]
0409 882 958
Property investment advice and researched property in quality locations available.Kenle,
“wanting to plan on retirement in 4 year”
I’m confused…does that mean you are going to start your planning in 4 years or are you going to actually retire in 4 years.
If the latter, could you send me a copy of the plan – it must be an absolute cracker…
Cheers,
Dazzling
“Go hard or go home”
What about building to provide additional cashflow?
Have you explored the different types of dwellings you can put on this property, the costs of building to completion and what sort of cash flows can be generated?
It’s worth doing some more homework.
Cheers
Jeff
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