I have 3 mil in cash, 500k in shares and can borrow 1.9mil. I am 40yo supporting wife and 4 kids. I do not currently work and do not wish to return to the workforce.
I am looking for a secure cash flow that beats bank interest and will keep pace with inflation. In a few years I will have more time on my hands to develop property. Have overseen a few residential renos and not averse to property development.
Some alternatives I am considering:
1. Find freestanding shop(s) in a desirable area to reside and put shop-top housing to add residential income stream.
2. A mixed tenancy free standing building perferably with some residential component
3. Long lease quality tenant eg bank in busy area
4. Buying close to train station in Sydney with a view to residential development under new LEPs allowing 4 storeys.
5. Any other ideas?
I would be very interested in how others would approach this.
Thanks for reading
I am looking for a secure cash flow that beats bank interest and will keep pace with inflation. In a few years I will have more time on my hands to develop property. Have overseen a few residential renos and not averse to property development.
Some alternatives I am considering:
1. Find freestanding shop(s) in a desirable area to reside and put shop-top housing to add residential income stream.
2. A mixed tenancy free standing building perferably with some residential component
3. Long lease quality tenant eg bank in busy area
4. Buying close to train station in Sydney with a view to residential development under new LEPs allowing 4 storeys.
5. Any other ideas?
I would be very interested in how others would approach this.
Thanks for reading