I won an Art Union block of flats

[Ed Barton]

Well not yet...

http://www.rslartunion.com.au/Draw311

What would you do with it?

• Sell
• Rent resi
• Run as holiday accommodation.
• Other

 

[westminster]

Holy crap - now that's a prize!!

I'd probably rent mixed - perhaps 3 std rent and 4 holiday accom.

 

[handyandy]

I will be keeping it.

Fits right in with my portfolio. Oh hang on any property will fit in with my portfolio.

I am undecided as to whether I would have it as holiday rentals or permanent rentals.

Either way, I would keep one unit for my own use. Discussions, at the family level, would need to happen to determine which of the units that would be.

Biggish problem in the case of permanent rentals would be what to do with the furniture as I would certainly not rent them out furnished. Even rental as holiday rentals the furniture would appear to be the wrong style durability wise.

Odds are way better than Lotto and the like....so we will buy some tickets just for the hell.

Cheers

 

[westminster]

I can't find the fine print on how they worked out the estimated income on it

 

[Spades]

Wow awesome prize!

I think i'd sell the lot and invest elsewhere.

Cheers Spades.

 

[DaveM]

I would sell them to chinese investors and then go on today tonight with an expose of the chinese property invasion

 

[Roachy]

Already bought my tickets a couple of days ago.

Keep them all!

 

[attrill]

Looked at the google maps and it is right on a busy junction. I'd still have it though.

 

[dex]

Looked at the google maps and it is right on a busy junction. I'd still have it though.

It used to be a BP service station and was vacant for a long time.

 

[chindonly]

Live in the penthouse and rent out the rest!

Time to retire!!

 

[attrill]

I wonder how much of the $177K income would get swallowed up in fees and maintenance on the pool, lift, management fees etc for a hands off landlord?

Any guesses? Mine would be $50k per year.

Would be interested to hear what others think.

 

[EN710]

Nooo, let me win itttt

Been thinking about it. I will sell some and keep some.

I think the capital can be re-distributed to different areas so I can get better yield.

Tempted to keep the penthouse so I can go there every now and then

 

[twobobsworth]

I wonder how much of the $177K income would get swallowed up in fees and maintenance on the pool, lift, management fees etc for a hands off landlord?

Any guesses? Mine would be $50k per year.

Would be interested to hear what others think.

& Land Tax.

Bit too far from the beach for me.

 

[Aaron_C]

Sell it, take cash and then go on a real holiday wherever I want.

 

[lizzie]

Even if $70k was swallowed by management, maintenance, land tax etc ... still give a tasty $100k and unexpected income per year. I'd be happy with that.

Still - I'd probably sell and invest in more stock standard rentals ... oh ... but keep a few bits of furniture to replace my ratty old stuff

I wonder how much of the $177K income would get swallowed up in fees and maintenance on the pool, lift, management fees etc for a hands off landlord?

Any guesses? Mine would be $50k per year.

Would be interested to hear what others think.

 

[joanmc]

I would sell it. Pay off my portfolio and all my other debts. Hire the penthouse at Oceans Mooloolaba for a few weeks. Sleep for the first week. Come back and contemplate how I want to go forward with my retirement.

 

[Spades]

Rather do these lotteries,rather than tatts etc as there going towards a good cause.
I usually do the RMH each year and don't expect to win anything.
If i win it's a bonus.

Cheers spades.

 

[lizzie]

Well - I can't win it 'cause didn't buy a ticket ... got my money on the $5 lottery win - nearly $30mil at last count

 

[Ajax]

If I won I'd bulldoze it...it would make a good site for a petrol station.

 

[D.T.]

I can't find the fine print on how they worked out the estimated income on it

http://www.rslartunion.com.au/Draw311/Calculator