Selling decision? House in Truganina VIC or Apartment in Lidcombe NSW

[dannytran1980]

Hi everyone,

I am holding two investment properties:

. 2 bedroom apartment in Lidcombe NSW (4yrs)
. 4 bedroom house in Truganina VIC (1yr)

I intend to sell one of them but unsure which one I should sell and which I should keep.

Would appreciate if you could share your opinion/thoughts on this?

Thanks,

Danny

 

[Propertunity]

Danny, you have not provided enough information to tell.

What did you pay for each?
What loans?
What are the rents?
etc, all the numbers

.....and why do you want to sell any?

 

[BV]

Danny, you have not provided enough information to tell

Yes we need to know the numbers

 

[dannytran1980]

The rents and interests are currently offset each other given the average mortgage size.

Reason to sell:
. I am moving overseas for a few years and want to reduce the number of investment properties.
. Other reason is more personal with the Lidcombe apartment. I could hold it for few years but would sell it eventually.

Reason to invest in these locations:
. Truganina is a growing area. I am guessing it will have more potential later. Nearby train station will be completed and going to operation in 2013.
. Lidcombe is established, the apartment locates in very convenient area (3mins to train station and quiet)

The value of the Lidcombe apartment appreciates around 80K (320K to 400K since Oct 2006) and for Truganina house around 20K (350K to 370K since Apr 2010)

Which one I should sell at this point?

 

[BV]

I think you should sell the one with the most capital gain and should probably sell it when your income is low.
How much are the rents for each property?

 

[dannytran1980]

Thanks Bill.

Lidcombe apt weekly rent is 410 (directly to tenants/friends have lived there for couple of years, market based rent would be 440 minus agent management fee payable)

Truganina house weekly rent is 400 minus agent management fee of 25pw/100pm, thus weekly rental income of 375.

 

[BV]

The unit has better yields but it also has strata costs.
I can see why it is a difficult decision but seeing that you're from Melbourne and you'll probably return there one day I think you should keep the house

 

[CHam]

The unit has better yields but it also has strata costs.
I can see why it is a difficult decision but seeing that you're from Melbourne and you'll probably return there one day I think you should keep the house

Yes but the apartment won't need as much maintenance and if it is continued to be rented to friends it should be looked after well you would think.

Also isn't Sydney supposed to be just about to hit a growth spurt? Maybe a 2 bedder with proximity to rail may be a wise investment to keep.

We also have an IP in Tarneit (next to Truganina) and I think that there is a fair bit of building to happen yet so the growth may take a while....

 

[BV]

Yes but the apartment won't need as much maintenance and if it is continued to be rented to friends it should be looked after well you would think.

Also isn't Sydney supposed to be just about to hit a growth spurt? Maybe a 2 bedder with proximity to rail may be a wise investment to keep.

We also have an IP in Tarneit (next to Truganina) and I think that there is a fair bit of building to happen yet so the growth may take a while....

Good points