Your Second Income!

[saturnz]

2K a month?

Here you rent it out for 600 bucks then pool are already hesitant.

in that building the cheapest rate starts at around R1500pm

 

[Thor]

in that building the cheapest rate starts at around R1500pm

That's nice. The Bay here is 160K it's not underfloor and average rate is 400 - 900 a month.

 

[saturnz]

That's nice. The Bay here is 160K it's not underfloor and average rate is 400 - 900 a month.

location location location

 

[ele33]

with no maintenance and no risk, also in 9 years your rent wont be R2000pm and the value won't be R220 000

we see what we want to see, I'm in the market for a bay, and others I know are in the market for bays as well. Unless you understand the market you won't see the value.

edit: people complain they can't afford property, I don't see that as a valid excuse because here is an opportunity to own a property in a prime location, with very little capital outlay relatively speaking

So there's no levies attached to the parking bay? How does the parking area get maintained?
Also if you can't bond it then there's no tax saving to offset against the rental income?

 

[Thor]

location location location

Tygerwaterfront one would think...

 

[saturnz]

So there's no levies attached to the parking bay? How does the parking area get maintained?
Also if you can't bond it then there's no tax saving to offset against the rental income?

there are levy and rates, which comes to a total of R450pm in that building

the building is maintained as any other sectional title building in the area, it has trustees and staff etc

as I said previously, people see what they want to see, you see no tax benefits, I see cheap no risk property that generates an income from day one

 

[ele33]

there are levy and rates, which comes to a total of R450pm in that building

the building is maintained as any other sectional title building in the area, it has trustees and staff etc

as I said previously, people see what they want to see, you see no tax benefits, I see cheap no risk property that generates an income from day one

Thanks, so you're probably looking at a minimum of R550 pm profit on a R220k investment.

I wonder how Uber and improved public transport will impact the demand for parking in the future.

 

[ele33]

Is anyone operating as an Uber partner? What has your experience been like, is it worthwhile?

 

[saturnz]

Thanks, so you're probably looking at a minimum of R550 pm profit on a R220k investment.

I wonder how Uber and improved public transport will impact the demand for parking in the future.

cars (yours or ubers or whoevers) have to park somewhere, also this is CT central, parking comes at a huge premium, even the blue light brigade cars park in this building

also in the long run owners can collectively agree to convert the units into storage, which is also strong in demand

 

[Th4ndo]

LOL n00bz

https://www.gumtree.co.za/a-car-par...nd-parking-for-sale/1001885609980910061925109

Are you based in Cape Town or is that just where the best parkings are?

 

[Slootvreter]

Are you based in Cape Town or is that just where the best parkings are?

Well a quick look and it seems that there is only that one for sale anyway.

 

[Th4ndo]

there are levy and rates, which comes to a total of R450pm in that building

the building is maintained as any other sectional title building in the area, it has trustees and staff etc

So I assume that meanings they will manage the security?

 

[saturnz]

Are you based in Cape Town or is that just where the best parkings are?

I am based in Cape Town and CT CBD is the best place for parkings in my view simply based on the mantra of location location location- I don't know of many areas in SA where you can ask R1500pm for parking.

Also the nice thing of parking property is that you can do everything remotely since you will never really have to visit the bay for anything.

Well a quick look and it seems that there is only that one for sale anyway.

lol n00b

 

[Th4ndo]

Well a quick look and it seems that there is only that one for sale anyway.

I think you're right these are very hard to find. JHB didn't turn up anything. You have to really know where to look.

 

[saturnz]

So I assume that meanings they will manage the security?

yes the building is secured and maintained, it just had a repaint.

 

[Th4ndo]

Has anyone try to get in on the JHB CBD city rejuvenation projects?

Seeing some decent looking buildings developed recently in areas like Hilbrow.

 

[Zukat]

Is anyone operating as an Uber partner? What has your experience been like, is it worthwhile?

Was listening to 94.7 yesterday, they were talking about salaries and 2 uber drivers apparently reported a salary of R40k- R60k pm. Is that really the case in that business? The few uber rides I took, the drivers didnt seem too excited about their current income

 

[Messugga]

Was listening to 94.7 yesterday, they were talking about salaries and 2 uber drivers apparently reported a salary of R40k- R60k pm. Is that really the case in that business? The few uber rides I took, the drivers didnt seem too excited about their current income

Maybe on New Year's eve, but I'd be very, very surprised if they earned anything near that, minus expenses, doing regular work.

 

[ele33]

Maybe on New Year's eve, but I'd be very, very surprised if they earned anything near that, minus expenses, doing regular work.

Read the one article on Moneyweb, guy said he makes about R4k - R5K p.m. after costs per vehicle.

I'm keen on buying an Uber slot but not I'm quite sure if its worthwhile

 

[Messugga]

Read the one article on Moneyweb, guy said he makes about R4k - R5K p.m. after costs per vehicle.

I'm keen on buying an Uber slot but not I'm quite sure if its worthwhile

R4-R5k is about what the drivers I've spoken to, have indicated as well.