Main content
Search

Andrew Winter

Property Expert

» Ask An Expert

General Queaton 

Hi Andrew,

I love your show.

I have an investment property in Reservoir Vic which I bought for $611K at the peak of the market in Nov 2009. It's a red clicker brick home with a terracotta roof tile with wooden double hung windows (painted white) built after the war with some art deco features. It's in orginal condition on 650 sqm of land.
I recieve net rent of $1355 pm with a loan of $645K. It's costing me around $1k pm after negative gearing and the property is not growing by the same rate.
Should I hold as it's a great home in a good area (27 Acheron Ave - google it to view photo's) or should I rennovate it to improve the return? i.e update the kitchen and bathroom or should I build a unit on the back to improve the return? I dont want to sell as I wont get my money back in this flat market, if I can afford to hold for the say next 20 yrs, do you think that the property will grow by an average of say 2% pa and is worth holdng for the long term? Or should I sell as it's costing me money to keep it and take a hit as I want to save the $1k pm? I'm 42 yrs old and have time on my side hopefully for it to grow?

Thanks , Rob

Answered Saturday 10 November 2012

I would love to help, but it is simply to complex to answer in this forum, if you really are stuck let me know via www.andrewwinter.com.au

Property Expert

Andrew Winter

Andrew believes if you haven’t sold your house within two months then you’re doing something wrong.

» More Questions & Answers

Returning to Aussie, need advice 

David, way too big question to answer on this platform I'm afraid. My advice is don't rush, sell up, move over then rent! Don't buy a thing until you get to know where and what the market is doing. Th... Read more

landscape design 

You'll have to ask him, generally yes he will do a design! He has his own website inspiredexteriors.com.au... Read more

Selling my 85 year old mother's house. 

Answered this question. As I said go on apply!... Read more

Help in selling my 85 year old mother's house so she can move to Cairns. 

Always a first time! Why not apply on this site now?... Read more

Buying for Subdivision 

Worried Mum, this is not for the amateurs, does he know he can do this? If he does that's great but it will cost often tens of thousands to sub divide in council costs, town planners and legals. Great... Read more

Sell Unit 10/3 Hagan crt Belmont Victoria 

Show is looking now, you can apply online. A year is a long time certainly.... Read more

Marketing and Sale of block of 4 flats 

Anything is possible, but to be eligible you need to have been trying to sell already! If that is the case certainly worth trying, if you are really stuck let me know I have a Consultancy Service that... Read more

Renovate or sell as is 

Ann, don't panic. Forget doing anything yet, you've just moved in. I suggest the room by room approach. Think order of importance, usually a nice bathroom and bedroom are priority. Maybe new taps, spr... Read more

Need Your Help 

Maybe apply to be on the show, we're looking right now and a trip to The Tropics is always welcomed! Looks amazing.... Read more

How to sell the 'Unsellable House'? 

Hi again- not happy with the agent, then ditch them! Take the home off the market straight away give it a break for a month or two, then invite local agents again to pitch for the listing - typical... Read more

 
 

Sign Out

Join the Conversation

Please note, LifeStyle cannot respond to all comments posted in our comments feed. If you have a comment or query you would like LifeStyle to respond to, please use our feedback form.

0 comments