Selling PPOR to survive!

Discussion in 'Investment Strategy' started by davidc, 10th Oct, 2020.

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  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,504
    Location:
    Sydney
    1. Consider selling
    2. Consider renting it and moving somewhere cheaper so cashflow is balance. A survival strategy
    3. Discuss with lender - Can you get some concessions. Melbourne is locked down but will reopen. Things will get better.
    4. Look at every single outgoing and consider what can be cut or trimmed.

    I like the food van idea. I spent several days in Berry NSW and there is a donut van there. Cinammon donuts. The queue is there all day, every day. 20-50 long and it just keep moving along. Yeah they sell other stuff from the small van but they come for donuts. And dont stop coming. It would have to be a million dollars plus in sales. What does a donut cost to make = Not a lot. Its flour, water, sugar, cinnamon and oil. And a lot of milkshakes and more.

    make one thing well and they drive 2.5 hours to buy them. At $2.20 a piece. They spend $0 on advertising.

    Homepage Berry Donut Van
     
    Paul@PAS, 14th Oct, 2020
    #81
    davidc likes this.
  2. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,500
    Location:
    Melbourne
    I misread this - and got a hilarious idea! I reckon the van should crawl along during the day with the queue following along :D:D:D:D

    The Y-man
     
    The Y-man, 14th Oct, 2020
    #82
    craigc and Jess Peletier like this.
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,681
    Location:
    Perth WA + Buderim Qld
    Doesn't need to move whole family - just come work, many provide accomodation. Got friends in Carnarvon who are desperate for pickers. Thinking of going up with the kids so they can earn some $$'s. (Believe me, if my 13 yo is better than no-one, they are desperate lol)
     
    Jess Peletier, 15th Oct, 2020
    #83
    MTR likes this.
  4. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,681
    Location:
    Perth WA + Buderim Qld
    Now I desperately want a donut. Thanks
     
    Jess Peletier, 15th Oct, 2020
    #84
    craigc likes this.
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