Partnership vs Going Alone?

Discussion in 'Commercial Property' started by willister, 7th Apr, 2015.

  1. willister

    willister Member

    Joined:
    11th Mar, 2011
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    Location:
    Sydney, NSW
    Hi All,

    Just canvassing some thoughts - what would you do in this situation? We owe about $300K on our ip (also a warehouse that is tenanted). Looking at investing into a warehouse in Sydney - asking price is $800K. We are looking at either buying it ourselves or going in it 50-50 with an uncle under a trust legal structure. Rent would be $50-$60K p/a.

    We only have about $150K on hand so if we go alone I doubt we can get a mortgage for it having to borrow 81%....we've went in on property deals before with this uncle - twice. One ended quite well but the other time it was a bit iffy (we weren't really happy with each other).

    Opinions?
     
  2. Terry_w

    Terry_w Member

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    19th Mar, 2012
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    Location:
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    Why not buy it on your own? heaps of equity.
     
  3. skater

    skater Capitalist

    Joined:
    8th Nov, 2003
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    Speak to a good broker & find out if you can go it alone. It's always risky bringing someone else into your investing.
     
  4. hobo

    hobo Member

    Joined:
    10th Feb, 2013
    Messages:
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    Location:
    FNQ
    My opinion: Do it on your own if at all possible, otherwise save up more and do another deal on your own at some point in the future.