Poll: I have x Properties now
- Thread starter Blixsem
- Start date
I only pay one set of council rates for my duplex and my IP with granny flat. Plus PM fees are the same whether they're separate or combined, as it's a percentage.
This thread is delicious proof that you don't have to be a genius to make money in property
Yep, I'm a prime example
You just need to look at Calvin Coolidge's famous quote
If I had one guest house with 5 leases within it, I would still count it as one investment property.
What of you own a small shopping centre with say; 25 separate shops?
That is one investment property...with lots of income from it.
But, it sounds soo much better to say "I own 25 IP's!"
I think that you can ever compare apples with apples when it comes to property investing. So it's really up to the individual how they want to count it.
I went to a seminar the other day and the speaker counted the granny flat as a separate IP, I thought he was drawing a long bow, but if he wants to do it that way, that's fine.
If I had one guest house with 5 leases within it, I would still count it as one investment property.
What of you own a small shopping centre with say; 25 separate shops?
That is one investment property...with lots of income from it.
But, it sounds soo much better to say "I own 25 IP's!"
Can we do it as income streams?
Let's base it on council notices then
Done!
Now that we've decided that, I also only did IPs, should I have added my PPOR as well?
WASP
Income streams are income streams. If you happen to have enough income stream to retire, are you really worried about the number
I would rather have 5 properties generating $100K than 20 properties generating $10K.However, getting back the number of properties, this is how I see it....if a property has its own title (units, duplex, house) and it can be sold off separately as 1 then that is what you own one property. This is how rates/taxes are calculated, one title/one property.
Blocks of units/flats ie 6 in a block.... which is on one title, (not individually strata titled) then this is considered one property/parcel because you can not sell the units/flats individually and taxes would be calculated/determined on the block as a whole. Of course if one was to spend the money and apply to strata the block of 6 units then you would add significant value to this property because they could then be sold separately. Hope this makes sense.
You have 1 title you have 1 property, you have 9 titles you have 9 properties.
Cheers
MTR
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If I had one guest house with 5 leases within it, I would still count it as one investment property.
What of you own a small shopping centre with say; 25 separate shops?
That is one investment property...with lots of income from it.
But, it sounds soo much better to say "I own 25 IP's!"
I agree with you, regardless if you have 5 leases on 1 title, it should be counted as 1, not 5.
If each property has 1 title then that is what it is, and that is law, taxes are calculated on this value, its not a grey area
... Same as your other examples. Mind you .... it would be nice to own 25 separate shops on 1 title, who cares about the numbers if you have the cash flow
BTW, I think 40 sounds so much better than 25, good for you KathrynD
.... you go girl
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Let's base it on council notices then
How about the number of rubbish bins?
it is hard to compare apples with oranges,
buy one unit in a strata, its one
buy the strata block, its one
buy a house, its one
buy a street, its one
buy a suburb, its one
or
buy one unit in a strata, its 1
buy the strata block, its 12
buy a house, its 1
buy a street, its 100
buy a suburb, 1000
either system has the same expenses the same problems,
fingers crossed some profits
income streams, 51,
got some storage lockers,
that arent really ips, more like sheds 11 income streams << small income streams
buy one unit in a strata, its one
buy the strata block, its one
buy a house, its one
buy a street, its one
buy a suburb, its one
or
buy one unit in a strata, its 1
buy the strata block, its 12
buy a house, its 1
buy a street, its 100
buy a suburb, 1000
either system has the same expenses the same problems,
fingers crossed some profits
income streams, 51,
got some storage lockers,
that arent really ips, more like sheds 11 income streams << small income streams
it is hard to compare apples with oranges,
buy one unit in a strata, its one
buy the strata block, its one
buy a house, its one
buy a street, its one
buy a suburb, its one
or
buy one unit in a strata, its 1
buy the strata block, its 12
buy a house, its 1
buy a street, its 100
buy a suburb, 1000
either system has the same expenses the same problems,
fingers crossed some profits
income streams, 51,
got some storage lockers,
that arent really ips, more like sheds 11 income streams << small income streams
KD
40 is a good number, but 51 wow, that's even better.
BTW, are storage lockers a good investment??? just curious, seems to be good for cash flow
It doesn't matter either way for us. Count them individually, as Council Rated properties, or as tenancies, we still fall under the same category as for the number of properties.
No confusion then, that's a relief
No confusion then, that's a relief
Haha, it's funny you say that.
We were at a family gathering recently & someone asked how many we houses we have now. I usually give my standard answer of "just a few"(family & finances don't mix), but Hubby started to answer with the real number, so I cut in, counting houses, and only those in our personal names. Although the family knows we have property, they have no idea how many we have, & I like it just fine that way. So......no lying, they didn't ask how many properties, they asked how many houses, so that's what they got.
I counted title per property, however, I really don't care either way, in fact as I mentioned in one of my earlier posts income is more important than the number of properties you have. You can not live on brick and mortar, you need cash flow, by all means count your g/flats
KD
40 is a good number, but 51 wow, that's even better.
BTW, are storage lockers a good investment??? just curious, seems to be good for cash flow
We used to give one to each of our tenants for free.
Now we charge them a small fee, if they want one.
Same as the washers and dryers.One property is free, and in another, it has coin laundry.
