Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

Community

Share knowledge. Find answers. Ask questions.

Online Share Trading

Engage and learn about markets and trading online

Advice on my first property investment

Reply
Highlighted
Super Contributor
Thanks for all the responses. Food for thought!! i will think very carefully about this, because now it turns out the landlord cant even gain access to her own property lol....and the tennants arrive after everyone has gone to bed....I have read once before that its not so much the location that is important in terms of an property investment, but that the actual asset makes financial sense. Financially i can get a good rent out of the place, but unfortunately reselling will be a huge problem. But i will think very carefully about this...Thanks.
0 Kudos
Highlighted
Super Contributor
Dear Mr S I had hoped that you might be listening - but your response indicates the contrary. If your belief system( because this is what your statement indicates - its not based on fact) turns around things like "the best advice is free advice" you are living in cloud cuckoo land. And if you learn nothing else from this interchange do yourself and all on the forum a favour by getting this into your head "THE REASON FREE ADVICE IS FREE IS BECAUSE ITS NO GOOD."
0 Kudos
Highlighted
Super Contributor
Where I live "North" is always the best buy, also in terms of growth potential. Do NOT buy into this project - the BC is in a position to surprise you with stiff levies to fix the common property. The other occupants are a problem to my mind - you do not want to be scared by them NIGerians and you want to be PROUD of your investment choice, don't you? We fetch +R5k p.m. for a 96m2 two-bedroomer, inclusive of water. The investment only becomes a winner once your bond is less than 40% of acquisition costs. The BC finances MUST be solid. More owners should occupy as opposed to "investors" living away and just letting it via an agent. We do all the letting ourselves and hasn't had a days worry in 6 years.
0 Kudos
Highlighted
Super Contributor
Where I live "North" is always the best buy, also in terms of growth potential. Do NOT buy into this project - the BC is in a position to surprise you with stiff levies to fix the common property. The other occupants are a problem to my mind - you do not want to be scared by them NIGerians and you want to be PROUD of your investment choice, don't you? We fetch +R5k p.m. for a 96m2 two-bedroomer, inclusive of water. The investment only becomes a winner once your bond is less than 40% of acquisition costs. The BC finances MUST be solid. More owners should occupy as opposed to "investors" living away and just letting it via an agent. We do all the letting ourselves and hasn't had a days worry in 6 years.
0 Kudos
Highlighted
Super Contributor
Where I live "North" is always the best buy, also in terms of growth potential. Do NOT buy into this project - the BC is in a position to surprise you with stiff levies to fix the common property. The other occupants are a problem to my mind - you do not want to be scared by them NIGerians and you want to be PROUD of your investment choice, don't you? We fetch +R5k p.m. for a 96m2 two-bedroomer, inclusive of water. The investment only becomes a winner once your bond is less than 40% of acquisition costs. The BC finances MUST be solid. More owners should occupy as opposed to "investors" living away and just letting it via an agent. We do all the letting ourselves and hasn't had a days worry in 6 years.
0 Kudos
Highlighted
Frequent Contributor
Mr S. Since you are still considering purchasing the property...I say DO IT! BUY THE PROPERTY - you cannot go wrong as the returns are excellent - Wow, what's there too think about. As Partridge says "FREE ADVICE is NO GOOD" ...Hopefully I think that I just proved it.
0 Kudos
Highlighted
Super Contributor
Never expect to buy a dud, and think that now that you own it, it's no longer going to be a dud. Your'r not that special.
0 Kudos
Highlighted
Super Contributor
The three rules in buying property, Position, position, position.
0 Kudos
Highlighted
Super Contributor
No brothels, position, position.
0 Kudos
Highlighted
Super Contributor
No brothels, position, position.
0 Kudos
Highlighted
Super Contributor
Mr S, If you're Nigerian, go for it.
0 Kudos
Highlighted
Super Contributor
Take R190K invest it into BHP. A year from now, you can buy 2 units in that complex.
0 Kudos
Highlighted
Super Contributor
why not gear it 6 times if you're so sure? :)
0 Kudos
Highlighted
Super Contributor
Brothel...well it can only go up!So go for it...er rather come for it
0 Kudos
Highlighted
Super Contributor
Women are born with a gold mine between their legs, the problem is they need drill bits to get it out.:-)
0 Kudos
Highlighted
Super Contributor
lol!! wow firstly no im not nigerian! and secondly iv decided not to touch the property after taking into consideration all the points raised, and the fact that my accountant had a look at the complex financials and found them to be on the brink.....anyway thanks again for your insight, i am looking at other options!
0 Kudos
Highlighted
Contributor
0 Kudos