I don't think he has an investment property, a few months ago he was posting about R100k cash he had and was wanting to find other people with cash to buy a property.
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- Thread starter Candystore
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I don't think he has an investment property, a few months ago he was posting about R100k cash he had and was wanting to find other people with cash to buy a property.
supersunbird
Honorary Master
Why is it the only choice one has? I use it all lol.
Pitbull
Verboten
And that R100k freebee I got and wanted to invest (which I did with Allan Gray if you read the other threads too) you come to the conclusion I don't have property? Ok then
And that R100k freebee I got and wanted to invest (which I did with Allan Gray if you read the other threads too) you come to the conclusion I don't have property? Ok then
I see you are still struggling to come to grips with the difference between an investment property and a property.
Do you have an investment property?
Pitbull
Verboten
Since you seem to know me.
Yes, we have a Farm in Zeerust (Trust) of 2.5k Hectares.
I own a 1 bedroom flat (paid in full) In Florida Johannesburg - Rental
I have a bond on a property I'm currently staying in (Which the income from the flat pays for)
Maybe we should all invest in 1990 odd cars?
Please stop assuming things about me, you don't know me. And I doubt you ever will.
eidt: Fixed the size of the farm should be 2.5K (2500 hectares)
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Diplos
Senior Member
Investec Call Money Account - non transactional, access to funds in 24hrs or less. I have <100k and my rate is 6.62%pa. You may get a better rate with 1 bar.
I am not assuming anything.
I clearly recall a post you made where you bragged about your 2m house and two cars.
I'm going on what you are saying.
I don't really want to know someone who thinks Iraq beat the USA at a war and who thinks Palestine is an actual country.
Pitbull
Verboten
Yea, figured you had nothing to add just trying to troll again.
you don't have much to add either
remember you the one that spent 150k on a polo but then asks the for forum how to spend 100k you have spare laying around.
Honestly, that's what I call a cool story bro. Such a riveting tale, I honestly copy and pasted it to word, saved on my hard drive, backed it up on a jump drive, drove to the bank, put the jump drive in the safe deposit box, and will leave it there until my kids turn about 12 (when they can actually state their age, and ask what it is I'm showing them), when I will pick it up, put it in an old USB drive reader and relay this cool story to them and tell them, "kids, this is what a cool story should look and sound like...not like the stories your generation tells."
czc
Honorary Master
Unfortunately that is almost the actual levies in my building for a 2 bedroom, I just rounded it up.
Here is the link, hope it works: Not sure if the way I did it is 100% correct, I basically wanted to see why people would buy units in my building and the buildings around. It didn't and doesn't seem worth it.
https://docs.google.com/spreadsheets/d/1CNGXFwqPFNSHuCnGsf5iJu6YyDr4f5vxTKSrZj3A4UA/edit?usp=sharing
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Stefanmuller
Expert Member
Your monthly shortfall is way too high at R4 500. It should be R500-R1500. The levies are huge. It might be that your capital growth will be higher though bit still, you got a property that costs you R54k per year and decreasing every year that would have a value of R2,5m in 20years time if property value in the area grows by 6%.
People may say that you could have invested R800k and ended with R3,5m or thereabout at 7% or 8% but then again you did not have R800k, you borrowed it.
Nicodeamus
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Personally I would put it into a pension fund where you get much higher returns, I regard a property as a bad investment for 2 reasons. 1. You need to find a tenant that does not **** up your property and also you have months when you might not find one (depending on the area). The second reason is that you have to sell your property in order to get your money back. Your house might be worth 1 million, but when selling it you will probably have to settle for less.
alqassam
Expert Member
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Property can be a great investment if and only if the price you paid is low enough!
I have come to a choice. To either sell my flat and use the cash to invest in equity. Or to keep and rent it. I could prob gross 14 to 15k with a 7k bond and 4k levies 0.5k rates and taxes. Renting would be great but worried about the quality of tenants and squaters rights etc
I have come to a choice. To either sell my flat and use the cash to invest in equity. Or to keep and rent it. I could prob gross 14 to 15k with a 7k bond and 4k levies 0.5k rates and taxes. Renting would be great but worried about the quality of tenants and squaters rights etc
RogueTr00per
Honorary Master
Rather have a bond on the BTL property than the one you are living in. The interest on the bond is tax deductible on the BTL property.
If the BTL is fully paid off then you are paying tax on the rental income at marginal rate of tax.
Not a fan of BTL. Trying to steer clear from it in the future.
Archer
Honorary Master
Then it obviously wasn't worth 1 mil and you did your sums wrong.
Hamster
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How much is the property worth/can you sell it for if you don't mind me asking? Sounds like quite a nice place.
alqassam
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I should get 2.6m. So after bond and agenrs etc will be left with approx 1.9m
I have lucked out with being able to use an amazing family property for rent free for the next 5 to 7 yrs. I only have to cover rates and taxes and maintenance
zerocool2009
Honorary Master
If you do your home work correct, buy right and at the right moment, you can make profit from month 1.
Property and shares has both their good and bad points. But the golden rule is, don't invest only in one thing. That is too risky
Property and shares has both their good and bad points. But the golden rule is, don't invest only in one thing. That is too risky
Rental property? Pffff. What a waste of money. Rates and taxes. Repairs and paint jobs. Tenants ducking after trashing the place or defaulting on payments and squatting leaving you with months of no income and plenty of expenses.
Foord, Coronation and other UT's will cost you as they try to beat the markets. They never do on the long run but charge you anyway.
So why not just invest in the indexes they are trying to beat? Most cannot.
You are comparing a mere 6% or minus 6% on rental property that could lead to a coronary infarction with the stress to 30% gains made by ETF's over long term without any cardiac events.
You go on your own journey.
Foord, Coronation and other UT's will cost you as they try to beat the markets. They never do on the long run but charge you anyway.
So why not just invest in the indexes they are trying to beat? Most cannot.
You are comparing a mere 6% or minus 6% on rental property that could lead to a coronary infarction with the stress to 30% gains made by ETF's over long term without any cardiac events.
You go on your own journey.