Hi Everyone,
First time poster here.
Two of my IP's are in Rockhampton. They are two 4br houses (one brand new, the other is a very tidy older house) on one block under one title. Both rented and returning well ($240wk vs $180k lend and $360wk vs $260k lend). Currently on the market as one lot, but have yet to sell.
A couple of people in the property game up there have suggested taking them off the market and holding them for the short/medium term due to (in their opinions) Rocky being positioned well to benefit from the mines and other projects starting up in Regional QLD.
I certainly know that it's a crappy selling area at the moment, but it's a good rental area.
Financially I don't need to sell them, but it would be nice to take the profits from my development and reinvent in other projects. That said, I am at less than 80% LVR, so I could suck up the mortgage insurance and access equity for my next property investment.
Have also been toying with the idea of splitting the titles and selling one or both (either traditionally or under vendor finance). The problem with this is that if I split the titles and still can't sell them, I have burned up money doing the split and will be left with higher holding costs.
If this were your situation, what would you do?
Any advice, opinions and knowledge much appreciated.
First time poster here.
Two of my IP's are in Rockhampton. They are two 4br houses (one brand new, the other is a very tidy older house) on one block under one title. Both rented and returning well ($240wk vs $180k lend and $360wk vs $260k lend). Currently on the market as one lot, but have yet to sell.
A couple of people in the property game up there have suggested taking them off the market and holding them for the short/medium term due to (in their opinions) Rocky being positioned well to benefit from the mines and other projects starting up in Regional QLD.
I certainly know that it's a crappy selling area at the moment, but it's a good rental area.
Financially I don't need to sell them, but it would be nice to take the profits from my development and reinvent in other projects. That said, I am at less than 80% LVR, so I could suck up the mortgage insurance and access equity for my next property investment.
Have also been toying with the idea of splitting the titles and selling one or both (either traditionally or under vendor finance). The problem with this is that if I split the titles and still can't sell them, I have burned up money doing the split and will be left with higher holding costs.
If this were your situation, what would you do?
Any advice, opinions and knowledge much appreciated.