All Topics / Creative Investing / I would like input as what you would do with 500k in my situation

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  • Profile photo of Linsura-propertiesLinsura-properties
    Member
    @linsura-properties
    Join Date: 2012
    Post Count: 11
    January 11, 2012 - 12:12 pm

    Hello,
    I was left 500k of assets in property and cash and i need the money to work for me the best way possible I have a property that is currently for sale and  it is on the market for 399k and i have 200k in term deposit. I am past working age (retired) and I would appreciate others opinions on best ways to invest in property i do not want to invest in stocks or investmenmts down that way as i have had bad experience with that in the past.

    The property im selling is taking time to sell and im thinking of renting and that would generate 400.00pw or i could continue selling get the money out of the property im selling then take the funds from my term deposit add them to the money from the property im selling. And buy something in Sydney within 8ks of the city like terrace houses around Marrickville,Tempe,Arncliffe as these are up and coming areas and provide good value properties compared to other suburbs nearby and are increasing in value.

    Any input would be appreciated and also if you were in a similar position what you would do.

    Thanks

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    January 11, 2012 - 12:45 pm

    Have you had some tax advice?
    Legal advice?
    especially if the assets are from a will or deceased estate.
    You may also need to consider centrelink aspects and superannuation.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Linsura-propertiesLinsura-properties
    Member
    @linsura-properties
    Join Date: 2012
    Post Count: 11
    January 11, 2012 - 9:32 pm

    yes i have had tax advice i inherited in 2007 so it is awhile ago but because of varius factors in my life have been unable to start investing it

    Profile photo of PaulliePaullie
    Member
    @paullie
    Join Date: 2009
    Post Count: 217
    January 12, 2012 - 12:16 am

    Im no expert, but if I was in your situation I would look at investments to generate cash flow, so you can live a fullfilling retirement.

    For instance, if you rent the place out, there $400 a week.

    Perhaps some high yielding shares, Testra are >8%, they are also 100% franked.

    Again Im no expert, but thats what Id look at.

    I definately would not look at property investing at this stage.

    Profile photo of Linsura-propertiesLinsura-properties
    Member
    @linsura-properties
    Join Date: 2012
    Post Count: 11
    January 12, 2012 - 10:01 am

    Thankyou for replying if we could keep the opinions coming would be appreciated

    Thanks

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