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Negatively geared investor

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kramer | 10 Nov 2018, 05:48 PM Agree 0
I'm in the ADF and 11 years ago a guy from spectrum realty (they advertise in the army newspaper) came to my unit to see if anyone was interested in investing in property. He came just after we got back from deployment and had some cash. i thought i was doing the smart thing (had no clue about property investing) by buying a house through spectrum instead of buying a new ute. i bought a 4 bedroom house in peregian springs in 2007 for a total of 540K . it is valued at 550K now. so over 11 years it has grown just 10k! i rent it for $505 pw. i would have to ask $630 pw to be pos. geared.

In 2013 i bought a unit through spectrum in southport qld for $ 350K. its now valued at 290K. rent is $365pw.

im 5K out of pocket every year even with an 11K tax return. Investor mags say 5 year outlook is good.

should i sell them asap or hold until there's growth?

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