Advice required on property dog! - Posted by Darren fron Oz

Posted by darren on May 07, 2000 at 07:24:30:

Sorry I’ve taken a while to get back to you.

The property is in Melbourne but 45ks from CBD.

The evaluation is based on comparible sales of similar properties.

The current renters are excellent as is the properties condition.

The property is not cash positive.

Regards,

Darren

Advice required on property dog! - Posted by Darren fron Oz

Posted by Darren fron Oz on May 04, 2000 at 06:06:44:

Any advice would be appreciated on what I should do with this investment property I have in Australia.

I bought this property in 1990 for $116,000 to live in. I have had it rented since 1992.

A recent evaluation by an agent said I would get $108,000 at best.

Should I cut my losses and list with the agent, or does anyone have any creative ideas, so that I can at least make some profit, eg lease with an option to buy.

Their is unlikely to be any future capital growth in the next few years.

Any advice appreciated.

Advice required…more info needed - Posted by soapymac

Posted by soapymac on May 04, 2000 at 11:11:35:

Darren,

  1. What is the location: city, urban, or outback?
  2. Is the evaluation based on comparable sales or comparable to what’s on the market now?
  3. What is the condition of the property now? Have the renters been good ones or the renters from he**?
  4. How does the proposed new taxation system that is effective 1 July enter into your situation?
  5. If the renters were providing positive cash flow, why not consider keeping it rented until your market changes?
  6. Lastly, what town and what state? I know there are others from OZ who frequent this board. Maybe one of them could help you.

Cordially,
Roy MacLean
"soapymac"