amazing isn't it - 8 years in the wilderness and prices still not back to where they were. it will probably take a total of about 20 years for prices to double from 2006
Reasons for selling
- Thread starter digs75
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amazing isn't it - 8 years in the wilderness and prices still not back to where they were. it will probably take a total of about 20 years for prices to double from 2006
There's no numbers above re value,yield, LVR etc but if it continues at an average of 7% then you will see it's value double in 10.24 years
Sydney has been in the doldrums for a number of years past and only recently played catch-up, your 7% may have been higher recently and less earlier on, see chart below
If you sell your investment property, you will be subject to taxes. Have you also considered that you would also miss out on the future growth of the property?
I'm not saying don't sell, but should you sell, what will you do with the funds?
There's no numbers above re value,yield, LVR etc but if it continues at an average of 7% then you will see it's value double in 10.24 years
Sydney has been in the doldrums for a number of years past and only recently played catch-up, your 7% may have been higher recently and less earlier on, see chart below
If you sell your investment property, you will be subject to taxes. Have you also considered that you would also miss out on the future growth of the property?
I'm not saying don't sell, but should you sell, what will you do with the funds?
Current value is around $440k, with an lvr of 68%...with sale would look to reinvest in an area that has outperformed the CG averages....the drain of cash flow for next 5 yrs is a signal to me to look elsewhere to invest in property.
Prices in general are higher now than their previous peaks, it appears you are cherry picking some examples and applying it to the market as a whole.
We sold mainly due to maintanence concerns. The house had been underpinned once and was I danger of needing it again soon. (whole hill sliding down 
)
Selling meant paying down debt and we had no debt at all plus some left over which we invested into business. This has given us more return cash on cash than if we had bought another property back in 2006. (and we still have very very low debt)
)Selling meant paying down debt and we had no debt at all plus some left over which we invested into business. This has given us more return cash on cash than if we had bought another property back in 2006. (and we still have very very low debt)
Just bought another house and the bank said no more due to servacibility issues. I like buying properties and turning them for a profit generally therefore a property we have had for a while and have made good gains from will go to allow future purchases.
I'm weighing up atm if i should sell.
My 1 bed unit to which i recently renovated and turned into an ip has achieved crap growth and i expect it to stagnate for awhile yet.
So i'm thinking why am i holding onto this ip when there's no good prospects of cg's and plunge the funds into a better performer.
If i were to sell,i'd be lucky to walk away with 55k.
On the other hand i've got a valuation done and can access equity of 45k.
What would you do?
Sell or access equity or acess equity and sell later?
Cheers Spades.
My 1 bed unit to which i recently renovated and turned into an ip has achieved crap growth and i expect it to stagnate for awhile yet.
So i'm thinking why am i holding onto this ip when there's no good prospects of cg's and plunge the funds into a better performer.
If i were to sell,i'd be lucky to walk away with 55k.
On the other hand i've got a valuation done and can access equity of 45k.
What would you do?
Sell or access equity or acess equity and sell later?
Cheers Spades.
We just sold one of our units (in Meadowbank). It didn't have much growth for the first few years. I looked at selling it last January and figured it would sell for $420K. I decided to wait as it hadn't had the growth that my Blacktown properties had in 2012.
Lucky I did wait as I just sold for $515K. Not bad growth in 12 months.
The reason we sold is that I want to pay down some debt, moving closer to retirement. This will increase my cashflow and I don't think it will have any major growth over the next 5 years.
Lucky I did wait as I just sold for $515K.
Not bad growth in 12 months. The reason we sold is that I want to pay down some debt, moving closer to retirement. This will increase my cashflow and I don't think it will have any major growth over the next 5 years.
