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From: Mike .
Should I sell this property?
From: Darren
Date: 5/4/00
Time: 9:24:57 PM
My second house purchase in 1990 was a house in Narre Warren (45klms from Melbourne) for $116,000, in which I lived in for a short time. I had it first rented in 1992. Currently it rents for $160.00 per month.
A recent agent evaluation, as I am thinking of selling it, was $108,000. Their is unlikely to be any future capital increase in the next few years.
Should I keep, or should I dump this non performer. I agree with the principle of buy and never sell, but should I cut my losses on this property.
It hasn't been a total disaster as I used the small equity in it to purchase another property which has gone up in value by $60,000 in 18 months, and thus leveraged to buy another 2 IPS.
Their is no more equity left in it - it has been all used up and is now cash negative.
Any opinions appreciated.
Should I sell this property?
From: Darren
Date: 5/4/00
Time: 9:24:57 PM
My second house purchase in 1990 was a house in Narre Warren (45klms from Melbourne) for $116,000, in which I lived in for a short time. I had it first rented in 1992. Currently it rents for $160.00 per month.
A recent agent evaluation, as I am thinking of selling it, was $108,000. Their is unlikely to be any future capital increase in the next few years.
Should I keep, or should I dump this non performer. I agree with the principle of buy and never sell, but should I cut my losses on this property.
It hasn't been a total disaster as I used the small equity in it to purchase another property which has gone up in value by $60,000 in 18 months, and thus leveraged to buy another 2 IPS.
Their is no more equity left in it - it has been all used up and is now cash negative.
Any opinions appreciated.
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