we are considering investing in a marina berth any thoughts or warnings about these
are there differnt investment types?
thank youwhat's on offer ?
thecrest | Tony Neale - Statewide Motel Brokers
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I am also interested to know more, I am on the list for the pre-release of a block of land and a 13 metre marina berth at Wyndham Cove Marina. (I figured if I was going to purchase an IP there, you had to get a berth too or it would be a waste of time).
Are you able to get a mortgage for a marina berth lease, or do you have to pay cash?
I think marina berths can be a lot of fun but that's a personal opinion instead of a professional one
In the past I have been involved in two marina purchases; one was bought by a friend who just used a line of credit secured by his PPOR so was 100% leveraged. The second was a business client who went through with a business loan that the CBA had arranged specifically with this marina development. The LVR was only 60% and obviously at a higher rate. Both of the purchases are cashflow positive but I must say my friend got a much better deal which he found himself from a local boatie.
Hope that helps a little and I would love to hear from other peoples experiences as this is one luxury I would happily spend money on!
Cheers,
AndyJust from a quick look online, it appears that 80% finance is available and that you can depreciate the lease value at 10% per year for 10 years. Could be a real money spinner on a cashflow basis, especially as part of a SMSF.
Interested to hear the thoughts of others.
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