Do you regret selling??
- Thread starter tarah
- Start date
Hi all,
If people don't mind sharing, I would love to hear from people who have sold IPs in the past for whatever reason...do you regret selling? I have noticed that a lot of people regret selling an IP, especially if they don't buy another IP to replace the sold one.
Thanks
I think there are three reasons why people might have regretted selling:
1) they where trying to time the market
2) they sold and didnt use the proceeds for productive use (or even worse they used it to speculate rather than invest, ie invest in an asset class they didnt understand because other people where making excessive returns in that asset class)
3) Harry hindsight is a wonderful thing. Property is still in an overall uptrend.
I sold some property in late 2002, do i regret it, i guess so with hindsight. I could have made an extra 300% by selling it now (this includes the effect of leverage). Would i act different now? no. For me its about risk vs return. I cannot predict what the market will pay in the future (there is still a Mr Market even for property, its just less obvious than for shares).
YES YES YES YES YES YES YES.
each time was because we had a seriously uncertain future, only for it be rectified within a month of selling.
each time was because we had a seriously uncertain future, only for it be rectified within a month of selling.
Same as ausprop
Infact probly should've sold more.
Infact probly should've sold more.
Glad to see some people don't regret selling! I guess you can't regret if it makes you more comfortable with your finances. I know that property always increases so am finding it hard to change my mindset to selling. I am normally so motivated and will do whatever it takes to keep IP but lately I've been thinking it would be nice to have substantial amounts of cash in the bank so I can feel comfortable and have the option to change careers or whatever!
Anyone else sold and regretted or happy with their decision?
Thanks
Anyone else sold and regretted or happy with their decision?
Thanks
Sold 2 properties to buy another 2 - new ones have much better prospects. No regret.
Would I have kept the originals if the opportunity was available (it wasn't)? Probably, but I'm trying to wean myself off the "what if" game or you'll forever look back and dwell on every decision you make in life.
Would I have kept the originals if the opportunity was available (it wasn't)? Probably, but I'm trying to wean myself off the "what if" game or you'll forever look back and dwell on every decision you make in life.
Sold 2 properties....no regrets in selling the last one.
first one sold it because I was strongly influenced to by family. It was a PPOR that I did a reno on over 2 years. My plans were to revalue and rent out, hand have equity available, but sold it as I was moving at the time.
I did use the funds to buy a block of units which has turned out fine. But should have stuck to my strategy as I did not know I knew more about property trends than my Dad who said sell it.
don't really regret it as it allowed me to buy something else and made me learn to stick to my strategy.
The person who bought it did nothing to it and made 3 times as much as i did over the past 4 years.
OSS
first one sold it because I was strongly influenced to by family. It was a PPOR that I did a reno on over 2 years. My plans were to revalue and rent out, hand have equity available, but sold it as I was moving at the time.
I did use the funds to buy a block of units which has turned out fine. But should have stuck to my strategy as I did not know I knew more about property trends than my Dad who said sell it.
don't really regret it as it allowed me to buy something else and made me learn to stick to my strategy.
The person who bought it did nothing to it and made 3 times as much as i did over the past 4 years.
OSS
we sold one Ip in 2003 to reduce the debt on our PPOR. then sold another that had given us nothing but trouble which enabled us to buy a duplex that was a bargain. We are looking to sell a few over the next year or two because quite frankly I am over it! lol
I think you need to look at what you want to achieve in your life and see which strategy works for you. If selling one will help you get where you want to go then do it. It really depends on your long term and short term goals.
I think you need to look at what you want to achieve in your life and see which strategy works for you. If selling one will help you get where you want to go then do it. It really depends on your long term and short term goals.
Sold a "lemon" - couldn't rent it, no capacity to reno it. One step backards for 2 steps forwards! With that albatross still around my neck, I'd be nowhere near where I am now.
Sold our PPOR when our business went South.
Sold IP's when the management, neighbours, or residents were questionable.
Have a number of IP's to flog when the market picks up.
I only regret selling the PPOR.
Sold IP's when the management, neighbours, or residents were questionable.
Have a number of IP's to flog when the market picks up.
I only regret selling the PPOR.
Have to admit I bit off more than I could chew. Capital Growth High End can get you if you're not careful. Had to sell one three years ago to ease the cashflow. Sold at a nice profit considering I only had it a few years. Unbeknownst to me at the time - my timing was perfect.
My strategy is longterm but for whatever reasons, you can make a mistake, circumstances change or the world changes around you. Best to make an executive decision and get out.
My strategy is longterm but for whatever reasons, you can make a mistake, circumstances change or the world changes around you. Best to make an executive decision and get out.
Yes everything I've sold over the years has been a mistake. 6 flats in stkilda, made some bucks but worth heaps more now. Had a dumb idea Id like to be debt free on my big ppor and the debt was making me nervy, oh well live and learn. Now I have yo buy the buggers back at double the price!
Yes, regret selling!
Sold my first IP in the late 90's after holding it for almost a decade and seeing no price appreciation. I wrote it off as a dog, sold it and put the proceeds into paying down the debt on my new PPOR. I bought it for $80K, held for a decade and sold for $75K. The following year it doubled to $140K.
Cheers,
Michael
Sold my first IP in the late 90's after holding it for almost a decade and seeing no price appreciation. I wrote it off as a dog, sold it and put the proceeds into paying down the debt on my new PPOR. I bought it for $80K, held for a decade and sold for $75K. The following year it doubled to $140K.
Cheers,
Michael
I've never sold anything and neither has my dad who only knows "buy and hold". However, his brother sold 5 properties(only has one IP left) in a semi blue chip area and has lost close to a million bucks over the last 3 years. Basically, he got sick of the repairs, painting when tenants left, etc, etc. Oh boy, does he regret it now!
I think most people would regret selling properties in good areas, as the growth has been phenomenal over the last 10 years.
I think most people would regret selling properties in good areas, as the growth has been phenomenal over the last 10 years.
I sold my first home 12 months after turning it into an IP. Was really struggling with the bills and it was doing my head in. Got a good profit so was able to pay down my PPR at the time. Was definitely the right decision, on the day of settlement I had $200 in my bank account and the hot water system in my PPR died 2 days after.
I have a dog I'd love to shoot but DH won't do it. He wants to develop it to get our money back that way but I would just love to cut our losses and get rid of it now. If anything I regret buying it (save that for another thread).
I have a dog I'd love to shoot but DH won't do it. He wants to develop it to get our money back that way but I would just love to cut our losses and get rid of it now. If anything I regret buying it (save that for another thread).
I cut loose two IPs at the start of 2008, just prior to the GFC, very lucky timing I guess. So far, both places would be worth the same, so I'm glad I got rid of those non-performers (they both had excellent CG up until that point), it allowed me to buy more later on....
