G'day. Old member of somersoft forum.. new chapters!

G'day,
I was using the somersoft forum some time ago. My ID back then was Ruff Investment. But hey, quite a lot of time has passed. I've added to our family. I've had great tenants, and poor ones. And I think quite frankly I'm done with being a landlord.
However, that isn't where the joy stops! In order to jump into the next stage of our investment cycles, we need to sell up. And now, the work begins to really get the ball moving, renovating and staging ect, ect.
So I'm basically after a few tips from people that have recently added value to their IP's for sale... without actually spending a fortune to increase the value.
After we sell the next property, we are looking at having some coin in the bank to invest elsewhere.
So that is us
So, I'm now a mum to 4 children. 2IP's (still). We are self employed. Country Victorians.
I'm looking forward to getting some great tips and sharing the ones I find along the way.

 

Good on you @Bee-mumma.
Welcome to this forum. Based on what you wrote, I think start reading the other asset classes section.
For shares, the Labor party/Bill Shortens plan (to not refund franking tax credits if your tax is less than what was collected) would be very bad going forward particularly for funds in super in the retirement phase. Accumulation phase, I think the propsal is ok as the incoming contributions should soak up the dividend franking credits.

I think that's a "watch this space" matter.

 

Welcome and well done.

I recently sold a property, didn't bother doing anything specific other than a clean up as the area and property didn't warrant it.

Where and what will you be investing in next?

 

G'day Gockie! Yes, we are investing already in other income streams I don't think Bill Shortens plan would actually work or be able to be implemented without massive backlash. But the current thinking is that 1. If you have an IP you are rich. 2. If you have shares you are rich. Obviously you can afford to not benefit from franking credits ect (Slap head now). It's not right at all. If you are self employed like we are, that is our super. And if you count that as trying to keep off government pensions, well, yes we really should be congratulated for our efforts rather than buy some frivolous consumer item. But heck... if you are on government support & know the system it seems very easy not to work or contribute. Way too many hand outs to people that aren't doing anything to help their own situation. Heck... maybe I'll stop my rant there. (Shhhh...)

Hordor- Yes, that is an option of doing very little to clean up the property and sell as is. Problem being is the gap between renovated/ presented properties and the money they sell for. As well as the fact if the property isn't 'staged' or is vacant, the property will sit on the market for months rather than weeks. I'm looking at spending $10K in order to have an increase of 30K. So it is worth our while in this case.
As people are getting LAZY, and don't really want to buy properties that are not 'done' or need work, we are looking at getting a few properties and doing them up. Unfortunately, because we are self employed and the banking issues at the moment, there is probably 0% chance of us loaning money... so our next venture will have to be 100% paid for. This scares me heaps! But no pain no gain. Hopefully closer to home, so that we can renovate while caring for our children and running the business. We are probably going to go down the road of buying a home for a Airbnb, that way the house will always be presented well and getting access to the property is not a problem while still having an income stream. Then after a year or so the property will be sold.