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From: Craig Robertson
Hi All
I am seeking advice on what you as experienced investors think i should do here.
I have only recently been studying finance and real estate. My situation is
1. I own 1/4 share in my fathers estate. A 3 bedroom home in Chelsea Heights (vic) on 1/4 acre across the road from a primary school. I estimate it to be around $300k. I am thinking of buying out my family members and paying about $210 for it. If it is valued at $300k i should instantly pick up $90k equity. I expect the growth to be around 15%p.a. I plan to rent this at approx $200 a week.I am also building my own house which will be ready in a couple of months. Do you think the wisest is
a) Buy the estate, rent it out, use the instant equity to buy another
b) Sell the house and use my share of the funds to buy other properties
My head is telling me go a) but i just want to be sure.
Any comments are truly welcome. Thanks
Craig
Hi All
I am seeking advice on what you as experienced investors think i should do here.
I have only recently been studying finance and real estate. My situation is
1. I own 1/4 share in my fathers estate. A 3 bedroom home in Chelsea Heights (vic) on 1/4 acre across the road from a primary school. I estimate it to be around $300k. I am thinking of buying out my family members and paying about $210 for it. If it is valued at $300k i should instantly pick up $90k equity. I expect the growth to be around 15%p.a. I plan to rent this at approx $200 a week.I am also building my own house which will be ready in a couple of months. Do you think the wisest is
a) Buy the estate, rent it out, use the instant equity to buy another
b) Sell the house and use my share of the funds to buy other properties
My head is telling me go a) but i just want to be sure.
Any comments are truly welcome. Thanks
Craig
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