Getting Started

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From: Mike .


Advice for a friend
From: Michelle R
Date: 28 Feb 2001
Time: 17:08:47

A friend asked me a, "what should I do?" question. It's like this. Friend owns (no mortgage) a rather nice duplex which he built several years ago. It's worth about $230,000-$240,000. It cost $100,000 to build. He was thinking of renting it out for $230 a week to a friend. He will be soon building a new house and will have equity of around $100,000 when it's finished.

Should he sell the duplex? Buy a cheaper investment that pays the same rent? What to do with the extra cash, about $50,000? Put it on the new mortgage or into a second investment house? Should he stick with the solid capital growth of the duplex and forget the rent ratio. Any comments.

Cheers, Michelle

 

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Gee Cee

Reply: 1
From: Mike .


Re: Advice for a friend
From: Gee Cee
Date: 01 Mar 2001
Time: 18:46:39

Buy a Gold Porsche.

 

[WebBoard]

Michelle R

Reply: 1.1
From: Mike .


Re: Advice for a friend/Gee Cee
From: Michelle R
Date: 01 Mar 2001
Time: 20:22:05

Appreciate the input Gee Cee. Friend can't fit the surfboard in a Porsche. Fits just nicely in his Lexus. What to do with the duplex with the lighthouse view?

I'm sooo glad there will be changes to the format of the forum. I've become dislexic, developed a stutter and a tendency to repeat myself since joining in.

Bye, Michelle(hopefully not for the second time)