Hi Everyone,
I am new to this forum so greetings to all!
I just landed myself in a situation that means I need to educate myself on commercial and mixed use property investment. I know I have to get my accountant's help with this, but I'm sure the expertise of the members on this forum can also be very helpful.
I have recently sold the big family home to try to adjust to some inevitable changes in my own life and probably in the markets as well.
Firstly, I bought a building block in Warragul where I am planning to build a smaller four bedroom house with a view to either keep it as an investment and/or perhaps retire into it when the time comes. Alternatively, I might sell it, I'm not so sure yet.
On the other hand, I bought a small shop with an attached 3 bedroom flat in Ferntree Gully, zoned Business 1. I didn't exactly aim for this one, I thought I will buy a residential property near a train station so my uni student kids can catch the train. However, after being unable to find the right property, with only 2 months left until my house settles, we all fell in love with this place, and my sons are already getting very excited to start a business there, while I am very happy to retire Mum's taxi, and live 300m from the train station. The place is not that pretty but the numbers are......
But I guess it can become quite a mess if I don't have it set up properly from the start, so any comments would be much appreciated.
Cheers,
Mimoza
I am new to this forum so greetings to all!
I just landed myself in a situation that means I need to educate myself on commercial and mixed use property investment. I know I have to get my accountant's help with this, but I'm sure the expertise of the members on this forum can also be very helpful.
I have recently sold the big family home to try to adjust to some inevitable changes in my own life and probably in the markets as well.
Firstly, I bought a building block in Warragul where I am planning to build a smaller four bedroom house with a view to either keep it as an investment and/or perhaps retire into it when the time comes. Alternatively, I might sell it, I'm not so sure yet.
On the other hand, I bought a small shop with an attached 3 bedroom flat in Ferntree Gully, zoned Business 1. I didn't exactly aim for this one, I thought I will buy a residential property near a train station so my uni student kids can catch the train. However, after being unable to find the right property, with only 2 months left until my house settles, we all fell in love with this place, and my sons are already getting very excited to start a business there, while I am very happy to retire Mum's taxi, and live 300m from the train station. The place is not that pretty but the numbers are......
But I guess it can become quite a mess if I don't have it set up properly from the start, so any comments would be much appreciated.
Cheers,
Mimoza
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