Well, we've come full circle.

[investor2009]

So, a few of you may remember my recent thread in regard to selling two investment properties to fund one flash one. Sounds like a nice idea, doesn't it?

Well.. We pulled one property off the market and paid $1,300 in advertising fees, still focussed on the larger PPOR and now we're strongly considering pulling the other off too. We figure we'd rather keep all our assets and keep living where we are now and just buy another investment property. If we do go ahead and pull this other one off the market advertising fees will be around $2,000
You know how many nice dinners out that would have paid for! But I'm no stranger to throwing money away, it's happened to me a few times actually and seems like such a waste.

So instead of $1.8m after selling one and buying a flasher one we would now sit at around $2.2m keeping what we have and adding the additional IP. Makes sense doesn't it. At least something does..

Just thought we'd share.

 

[Piston Broke]

Just part of the cost of doing business: a few Ks to check what the market is doing, though it obviously didn't meet your bullish expectations.

 

[investor2009]

Lol, I just had to take PB off my ignore list to read this message. I thought I might have possibly been interested in what he had to say! What a sucker I am. Back on she goes

FWIW I'm not sure why people would think we're removing the properties from sale because we didn't get what we wanted for them? I clearly state we are pulling them because we want to be richer in the long haul.

 

[Piston Broke]

And here i was just saying "thats life no big deal"...
Some people just cant handle it can they?
You put the properties on the market because you wanted them sold.
Now that they did'nt you can make all the excuses in the world cause if you
would've gotten your price you would have obviously sold them.
Ignore list is for the big sooks.

 

[The Y-man]

FWIW I'm not sure why people would think we're removing the properties from sale because we didn't get what we wanted for them? I clearly state we are pulling them because we want to be richer in the long haul.

I must say the only reason I would remove propoerties from sale is because I didn't get an offer I liked..... couldn't really get from the first post that this was a strategic move....

The Y-man

 

[cdremy]

I've read all five posts above and don't know what anyone is getting at

 

[Sunfish]

Lol, I just had to take PB off my ignore list to read this message. I thought I might have possibly been interested in what he had to say! What a sucker I am. Back on she goes

FWIW I'm not sure why people would think we're removing the properties from sale because we didn't get what we wanted for them? I clearly state we are pulling them because we want to be richer in the long haul.

Had you got your price they would have been sold. Why the carry-on?

I clearly state we are pulling them because we want to be richer in the long haul.

That's delayed gratification. We've all had to do it. While you are renting you are speculating that prices will go as you predict. They may not.

You guys think I'm a D&Ger but I live in a nice big house.LOL

 

[Ausprop]

against my own opinion i have just bought a PPOR. It'll probably go down in value but I am going in with my eyes wide open.

as for a few grand marketing, hardly seems a big deal in the scheme of it all. If property prices drop 20% over the next year or two you will be counting lobster dinners by the boat load

 

[Dazz]

against my own opinion i have just bought a PPOR.

....indeed, wives have a certain persuasive way about how the capital is allocated.

 

[Sunfish]

against my own opinion i have just bought a PPOR.

That's cool! Congrats.

 

[INVSTOR]

against my own opinion i have just bought a PPOR. It'll probably go down in value but I am going in with my eyes wide open.

Congratulations!! I think it's a good time to buy and there is nothing like having your own home. Renting sux.

Investor2009 - I'm sure you could easily make that money on another deal!

 

[Perp]

against my own opinion i have just bought a PPOR.

....indeed, wives have a certain persuasive way about how the capital is allocated.

I'm glad to see you both have wisdom as well as smarts.

 

[BV]

Congratulations!! I'm sure you could easily make that money on another deal!

That's the thing, there is no need to cry over it,
I wouldn't pull out, the Darwin market has been appreciaing fast and for many years now so it is due for a correction. Sell in Darwin and buy in QLD in areas that have fallen and are still falling and prepare yourself for early retirement....

 

[investor2009]

Hmmm. Ok it seems that no-one is quite understanding what I'm trying to say, maybe I didn't say it right.

3 weeks ago, we contacted two agents to sell two properties and 1 week later they were on the market! We did this to maximise service-ability so the bank would lend us big bucks so we could buy a flasho house We then heard that there was a way we could get away with only selling one and still have the ability to afford the place we wanted. We THEN did some more math and decided that we would be up $400,000 if we held all our current property and purchased another investment, and have since discovered that we CAN still afford to move into a decent house right near the beach!!

So it was an expensive mistake but in the long term it matters very little and we're glad we still have those extra assets.

Both homes were open for inspection for one weekend and there were a few people through each, not heaps but thats the market right now. We had 1 offer $15k below asking price for the Darwin property but turned it down because it was a tadd low and it was just so early on that I was confident that we were well priced and there would be plenty more interest. But thats all in the past now and we've come full circle.

I hope that clears things up a little. Were very happy with our decision now.
Cheers!

 

[The Y-man]

... and have since discovered that we CAN still afford to move into a decent house right near the beach!!

So it was an expensive mistake but in the long term it matters very little and we're glad we still have those extra assets.

Well that, makes more sense! Good on you.

The Y-man