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Thread: Investment Blups

  1. #1
    Junior Member
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    Jul 2010
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    Investment Blups

    I made the mistake of building a large holiday home as an investment, but after a few years I have realised that it is standing idle and has a small bond(R600K). Looked at possibly renting it out but all our personal things are in the house and who wants to clean up after other people, no thanks.
    Our plan is to sell in December or so when holiday people are looking around.
    My thoughts are to pay the R600K and use the rest of the money to purchase 2 x R800K houses and fix them up a bit, I have an electrician for electrics and a fitter that does plumbing to handle the upgrades. I have a reliable builder and painter that I often use that I can call on at owner builder pricing(built 3 houses). Is it worth the hassle of getting tennants in and maybe having issues, no bonds would help if I have monthly payment issues.
    My other thought is to do the buying, renovating and selling option with my team, this could be a good way to build on the investment/pension kitty.
    Or do you leave the money in the bank.?
    Nb/ I have no decent pension fund.
    Any thoughts and past experience would help.

  2. #2
    Diamond Member wynn's Avatar
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    Oct 2006
    east london
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    If you intend renting put in 'el cheapo' cupboards and bathroom fittings, tile all the floors properly and don't spend on high quality paints. Get an experienced rental agent to handle the rentals, worth the headache.

    if you want to sell paint properly, tile all the floors and put in 'omigosh' kitchens and bathrooms.

    As far as renting the holiday home goes there are letting agents who use cleaning services, just include the cost in the rental. Make sure you get references on the agency before you give them the property to administer.
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