Poll: I have x Properties now
- Thread starter Blixsem
- Start date
Not so interesting for me - a disaster actually. But all our own doing, so no sooking.
It depends on how the business goes. I would suggest not cashing in the properties to buy the business. Try and keep all your properties and use them to fund the business purchase. Problem is - as it was for us - if the business doesn't turn out as profitable as you'd hoped, you will eventually have to sell some properties.
Yes, and several others. I had a nice little mountain of books at one point.
Hard to know. When we got to 5, we had pretty much maxed out LVR and DSR.
It wasn't that much fun to be honest, becuase the end cash was not that flash and there were always head-aches with tenants and maintenance things - tenants aren't even allowed to change light bulbs anymore due to pub lib (and they are so useless they couldn't do it anyway in many cases
)That is why I decided to go sideways and use the equity to fund business purchases instead of IP's.
I figured I'd rather have 4 or 5 $400k businesses returning me $100k each, than another 4 or 5 $400k IP's returning me a couple of grand if I was lucky.
Then, I was going to use some of the businesses' income to fund some small subdiv projects, and some straight out Comm IP's such as what Dazz used to spruik on about...
Unfortunately, business no.1 has not gone as well as planned so far, so all the plans to buy more businesses are on hold until I can dig myself out of this hole and get the cashflow and reserves back up. That'll take at least another year I reckon.
That is a fabulous result.
What if you sold one house, then bought a duplex, does that now count as 2 properties
How about if you sold 2 units to purchase a small unit complex of 4
On a similar note then
PS - who has the SS record for the highest number of IP's as a member?
Brenda and Les, Bob & Kathryn, Steve McKnight, Rick Otton, Geoff Doidge, Michael Croft, Peter Spann, Karina, Nathan, Ben, Sash etc (note - just guessing)
PPS - who has the SS record for the highest number in IP as a member
Dazz, Deltaberry, Oscar, Peter Spann, Geoff Doidge, Top Cropper etc (note - just guessing)
PPPS - who has the highest net worth on SS
no idea....
Does it matter, or make their posts more relevant and how would you know anyway
Or is is it one of many ways of keeping score, or seeing where you fit in with relation to others
I do find it of interest though, along with the varying strategies to get there
Net worth poll
equity/net assets poll
How about if you sold 2 units to purchase a small unit complex of 4
On a similar note then
PS - who has the SS record for the highest number of IP's as a member?
Brenda and Les, Bob & Kathryn, Steve McKnight, Rick Otton, Geoff Doidge, Michael Croft, Peter Spann, Karina, Nathan, Ben, Sash etc (note - just guessing)
PPS - who has the SS record for the highest number in IP as a member
Dazz, Deltaberry, Oscar, Peter Spann, Geoff Doidge, Top Cropper etc (note - just guessing)
PPPS - who has the highest net worth on SS
no idea....
Does it matter, or make their posts more relevant and how would you know anyway
Or is is it one of many ways of keeping score, or seeing where you fit in with relation to others
I do find it of interest though, along with the varying strategies to get there
Net worth poll
equity/net assets poll
But Virgo isn't a war scarred slumlady dragon!
Or is she?
Put a Singapore Chilli Crab infront of her. The war scarred dragon will come out
House and granny?
If it is title, I have 3, if it is rentals, by Dec i'll have 6 (or 8-10 depending on if I find what I'm looking for).
Was going for a place this Saturday but my refinance didn't come through on time, there was $40k+ profit in it, I'm spewing.
I wanted to break the $2M mark in assets by Jan. Grr.
If it is title, I have 3, if it is rentals, by Dec i'll have 6 (or 8-10 depending on if I find what I'm looking for).
Was going for a place this Saturday but my refinance didn't come through on time, there was $40k+ profit in it, I'm spewing.
I wanted to break the $2M mark in assets by Jan. Grr.
Have we? I never do that. I've got 5 IPs, but 7 sets of tenants.
All the previous posters in this thread have been.
No of properties
I voted 9 props without reading that others were including tenancies. The latest being 4 tenancies which brings me to 12 tenancies. Last purchase is an ugly duckling that has not had any work done for 30 years !!!
I voted 9 props without reading that others were including tenancies. The latest being 4 tenancies which brings me to 12 tenancies. Last purchase is an ugly duckling that has not had any work done for 30 years !!!
But are we? I agree that I'd classify a guest house as one property, not the number of doors, but let's look at a few of mine.
I've got two blocks of units. One lot is Strata Titled, so that is four separate titles and four tenancies. The other is in one line, so three tenancies (plus the shed), but one title.
So.....do we count this as 2 properties, or 5, as there are 5 separate titles, or 7 for all the different tenancies, 8 if you count the shed. If I talk to the Bank, they see this as 5 properties. If I talk to the PM's they see it as 8. When I think of them, I think of 7, as the shed really doesn't count. So what should I be counting the units as?
Then I have a dual occ. It's not a house & granny, it's two 3 bedroom houses on the one block. My bank sees this as one property, as there is only one title, but my PM treats it as two distinct properties.
Everything else we have is straight forward, so no ambiguity at all.
One duplex (2 separate rentals), or one block of units is one IP?
I've got a duplex, but it's on a single title, therefore for me it's one IP.
