when to SELL in Sydney?

My bad. It's probably one of the worst units in the suburb so I thought that counted for something :p


That could work in your favour as other buyers will be thinking the same thing and in their head will think "opportunity!"

This dog could work out well for you. And auction all the way :)
 
What will you do with the net proceeds ?

I think a lot of us are going through the same decision.

If you are planning to reinvest in another property - then you are perhaps 15% down from the get go.

The west might get another run with the airport construction - so we will probably keep that one.


This is the answer to the op's post.
 
with my unit in Mount Druitt, would anyone suggest selling it WHILST there is a boom there eg right now

its not costing me anything to keep but im worried that it will eventually go down or atleast stop going up in price.

If i was to sell, id possibly buy another house in Brisbane

any suggestions?
 
with my unit in Mount Druitt, would anyone suggest selling it WHILST there is a boom there eg right now

its not costing me anything to keep but im worried that it will eventually go down or atleast stop going up in price.

If i was to sell, id possibly buy another house in Brisbane

any suggestions?

From what you are saying i assume it is positively geared, if that is the case why not hold onto it and use the the equity in the property to buy the 2nd IP in Brisbane.

You will hear many stories from people (myself included) who have regretted selling investment properties especially if you are at the start of your property investment journey.
 
From what you are saying i assume it is positively geared, if that is the case why not hold onto it and use the the equity in the property to buy the 2nd IP in Brisbane.

You will hear many stories from people (myself included) who have regretted selling investment properties especially if you are at the start of your property investment journey.

The only time that I would sell a positively geared property is to pay down the PPOR.
 
If selling, does a vacant property fetch a higher price than a tenanted property?

Additionally, if tenanted, is there any obligation to use a sales agent from the same agency handling the property management? Even if no obligation, I imagine logistically there might be issues with getting a hold of keys and arranging open times.

Wondering if it's best to give notice to tenants to vacate, get the keys back from the property manager and then shop around for a sales agent.

Would greatly appreciate any advice
 
There are valid reasons to sell such as
1. Restructure ownership. You might want to sell a jointly owned property for example.

2. Pay down non deductible debt. selling and using the proceeds to pay down the PPOR loan and then buying another investment could increase deductions. I advised some clients the other day and it involved claiming an extra $10,000 pa for the next 30+ years.

3. Restructure loans - In another post today the person paid the proceeds from his PPOR sale into his IP loan thinking he could save interest and use redraw to access the money (he can, but at a huge cost).

4. Sell a dud

5. Fix land restructuring

6. No income this financial year

7. Wanting to retire early and partially fund living expenses.

However selling because it is the top of the market may not be a good reason unless one of the above is also a reason. Think back to the last top of the market and what would that property be worth now if you had kept it.
 
If selling, does a vacant property fetch a higher price than a tenanted property?

Additionally, if tenanted, is there any obligation to use a sales agent from the same agency handling the property management? Even if no obligation, I imagine logistically there might be issues with getting a hold of keys and arranging open times.

Wondering if it's best to give notice to tenants to vacate, get the keys back from the property manager and then shop around for a sales agent.

Would greatly appreciate any advice

It all depends on presentation.

Even if tenanted, you still have the choice of who to sell with.
The keys belong to you technically, so you can just walk in and grab the keys as you need.. But with inspections, it must be organised with the tenant following the requirements.

First inspect the property to see how it presents and also speak to them to work out how understanding they are.
You don't want them vacating while you are in the middle of selling.
There is always the option of compensating them while selling if you think it is necessary.

But the main thing I would consider is if the property presents better tenanted, vacant or vacant styled.
 
I've currently got a unit in western sydney..

my question is, do you sell now & take advantage of the situation OR is there still a way to go yet ?

Depends on your predetermined investment strategy..otherwise you're predominantly motivated by emotion (greed & fear) instead of your head.
 
We did sell in Sydney end last year , cleared non deductible debt

Buying at the moment , taking on deductible debt .

Cliff

Where have you been looking at Cliff? your not snapping up all the waterfront properties at north arm cove are you? I've been working on a new nursing home at tea gardens, do you see much potential there?
 
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