澳洲Australia property Cashflow / CG balance | Sydney
在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m
I am in the process of deciding on which overall strategy will get me to my goals. ie. replace my income with a 100% passive one in 15 years.
It is looking like 'buy and hold' but with an 'add value' component to bring each property into a CFN position. Move onto the next deal.
There are many properties that can be purchased cheaply and all can be value added to, most have large blocks for subdivision, most can offer a good yield. However, my long term goal requires CG to occur.
The areas where these properties reside are not quality locations and do not offer good CG prospects. Properties in quality locations that can offer good CG are overpriced to make the numbers work for my strategy.
How should I move forward?
one bite at a time. Buy a property you can afford to hold. this may be a property without CG 'prospects', however you may be able to do a reno, or CG may occur anyway, or you might get a payrise etc, and then you can buy number 2.
just hang in there!
yes to move on one needs to begin to gain equity in a property or have access to another steady cashflow! If you have both that is great but if you do not have CG then try to save money if you have a steady income coming in. This way you can either pay more off a property's mortgage to gain more equity or put it towards a deposit on another property!
CG in up cycle, cashflow in down or stagnant markets...Oversimplified, but think it depends on market, point in cycle, personal circumstances etc...