WWYD- $500k property- Sell or buy out brother

[resjudicata]

@jesusinsideme247 Dig a big hole. Bury the house.

Build new house

What people dont know wont hurt them.

 

[jesusinsideme247]

@resjudicata Someone would dob to council. It’s a $1m+ fine because it boarders national park. I’ve thought about it.

 

[resjudicata]

@jesusinsideme247 The council would never be able to enforce such a fine. Not before youd buried, built and sold and be long gone before they could ever dream of following up.

 

[candies]

@jesusinsideme247 Why back then people built the house with asbestos?

 

[jesusinsideme247]

@candies It was a cheap, easy, fire resistant material. People didn’t know the risks and long term health implications.

 

[christian1724]

@jesusinsideme247 Would you love a cheap property, than yeah do it.
If not sell and split, you could always subdivied it Nd your bro sell his half.

 

[jesusinsideme247]

@christian1724 Subdivide is possible due to the land layout. Cliffs, rocks and rivers.

 

[reviewmayhutmui]

@jesusinsideme247 Could you just use it for agistment to get a little bit of an income stream (maybe enough to pay the bills to keep the place) and just hang onto it long term until it grows in value?

 

[jesusinsideme247]

@reviewmayhutmui There’s no debt on the property. But l would go into debt if l had to renovate the property.

 

[antinomian]

@jesusinsideme247 What’s the rough location? That’s a huge factor on if it’s worth keeping or not

 

[jesusinsideme247]

@antinomian Rural NSW. 4 hours from Sydney.

 

[antinomian]

@jesusinsideme247 I’m a property hoarder. For $500k, I’d keep it and use it as a holiday place

 

[tyforjesus77]

@jesusinsideme247 Sounds like an investment opportunity to me. Remove entire house and make a nice getaway home or holiday stay.

 

[josh5683]

@jesusinsideme247 I'd keep it with the brother and all the family could use it as a getaway retreat from the hustle and bustle. Could be an alternative place to go if Sydney gets nuked one day.

 

[thinrin]

@jesusinsideme247 Depends what you want, if owning a farm like that is part of it then keep it. Personally id keep it as farms /large properties will be harder to acquire down the track.

 

[simonlock]

@jesusinsideme247 Have you actually gotten quotes for the demo mate, honestly if you don’t need the money now it’s good to have in the back pocket for Covid 2.0