Property Group

I

initroot

Senior Member
Joined
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Hi everyone,

So toying with the idea for while. Small group 2-4 guys all put away x amount per month until we have enough for deposit on a property. Buy property and then keep going, pivoting to commercial property later.

Has anyone done this before? Can you share some wisdom perhaps? Even better who would like to join?

Some research let me to the following knowledgeable information:
  • Business Trust
  • Small group
  • Concept that with 1 million you don't buy one property cash, you put it towards deposit for 5 properties instead.
  • Residential and Commercial property market miles apart
  • Start slow and work towards commercial properties
 
Sounds like a great idea. Connecting with people who think like you will also be a great advantage.
 
A few guys at work have something like this. One clause I know they have is if anyone misses a monthly payment then they are out.
 
you do know you can buy a parking bay in CT CBD for under 200k

you don't need massive amounts of money to enter the property market, and working with other people just introduces risk, especially if one of the partners is more motivated by profit than the others
 
Good idea and if you include a first death insurance policy you could make a killing
 
saturnz said:
you do know you can buy a parking bay in CT CBD for under 200k

you don't need massive amounts of money to enter the property market, and working with other people just introduces risk, especially if one of the partners is more motivated by profit than the others
Click to expand...

How would one go about buying a parking bay?
 
twaatie said:
A few guys at work have something like this. One clause I know they have is if anyone misses a monthly payment then they are out.
Click to expand...
That's not right.

What if he already has 100K invested and life happens?
 
Thor187 said:
That's not right.

What if he already has 100K invested and life happens?
Click to expand...

Well if you start something like this, its smallish group. If he invested that amount and needs the money, then he needs to sell his shares within the company. Simple, it stays business. This shouldn't be subsitute for your emergency fund.
 
saturnz said:
you do know you can buy a parking bay in CT CBD for under 200k

you don't need massive amounts of money to enter the property market, and working with other people just introduces risk, especially if one of the partners is more motivated by profit than the others
Click to expand...

I think if you take in consideration the rental e.g. 2000 pm per parking bay. Then it's not bad considering low maintenance. Depends on your strategy, passive income or growth etc.
 
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