Hi PT People,
Thanks for taking the time to read this and for sharing your knowledge and goodwill.
We have 3 options on our property project. We want to decide on one option and move ahead asap. We do understand that as this is our project we are responsible for what we do! I suppose our biggest goals are to create a retirement fund and to gift our kids with an inheritance. Cashflow would be pretty good too! And no mortgage on the Family Home would be great!
Option A
Sell the Family Home with a Resource Consent to Build two duplex on our section (total of 5 titles). Clear a Profit of 180 K with no tax or gst applicable. And use this money for another project?
Option B
Build the Duplex's and sell them individually after completion for a rough profit of 120 K after all expenses and gst and tax etc. Plus get our Family Home (worth 260 K) mortgage Free!
Option C
Build the Duplex's and Rent them out for our Long-Term-Buy-and-Hold Strategy. Clear a positive Cashflow of 12 K per annum after all fixed expenses, using the interest rate of 6% on total projects costs which will be borrowed. Plus we get the Family Home (worth 260 K) mortgage Free!
Thanks for your input.
Thanks for taking the time to read this and for sharing your knowledge and goodwill.
We have 3 options on our property project. We want to decide on one option and move ahead asap. We do understand that as this is our project we are responsible for what we do! I suppose our biggest goals are to create a retirement fund and to gift our kids with an inheritance. Cashflow would be pretty good too! And no mortgage on the Family Home would be great!
Option A
Sell the Family Home with a Resource Consent to Build two duplex on our section (total of 5 titles). Clear a Profit of 180 K with no tax or gst applicable. And use this money for another project?
Option B
Build the Duplex's and sell them individually after completion for a rough profit of 120 K after all expenses and gst and tax etc. Plus get our Family Home (worth 260 K) mortgage Free!
Option C
Build the Duplex's and Rent them out for our Long-Term-Buy-and-Hold Strategy. Clear a positive Cashflow of 12 K per annum after all fixed expenses, using the interest rate of 6% on total projects costs which will be borrowed. Plus we get the Family Home (worth 260 K) mortgage Free!
Thanks for your input.
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