fair enough, except in property you can be eaten alive before you can exit. i know because about a year ago i had to sell a property and there just wasnt a market to sell into. putting together a deal in that type of environment will give you years of experience in a very short time. eastpac was about to push the button on me so i HAD to get a result
you are spot on Ausprop.
Property is 'illiquid', when the tide moves against one (ive got to keep reminding myself to use 'one' instead of 'you', people keep seeming to think that i mean them when i just want to make a point, i am not refering to the poster when i say 'you' in a general context), exiting can be difficult.
Your post is interesting because it brings flashes back to mind of reminiscences of a stock operator (the ultimate trading book).
Somewhere in the book it talks about the need to offload a position, not at its optimal price, but where the MARKET WILL TAKE UP THE SELL POSITION.
In otherwords as a trader you cant always offload at the price you would like, you have to offload when there is a sustainable market for your securities (ie read bull market).
I am doing something like this in the melbourne market at the moment. I have the 'traditionally' worst kind of property investment: high rise inner city apartments. But i bought them below my perception of intrinsic value, well below replacement cost. But they are not A-grade properties, so therefore they dont deserve to stay in a hold at all costs portfolio (actually some are better than others, some are more 'uniquie', so i am offloading the lowest quality ones first whilst the buying market is strong).