Would you sell this or keep it ?

[blaster]

Hi people
I have a little place in two titles, I've only setup the first one as yet and that can be rented out now at 300pm CP on the lot, plus it now has 60k equity and I still have the second title for down track. It's only a cheapy nothing flash but it's a great little earner for what I've spent.

Problem is , I hate the spot, I can't stand going over there to do any work, maintain things all the time and then there'll be the second project down track and the ongoing rental .
If I kept it , I'm bound to all that for good but it is a good keeper. If I sold now, I'd only come out of it with the 60k in cash after costs , no rental , no second title to play with , I'd bloody like to sell though and to hell with it.
I'd just prefer out of the spot all together if I had my way.

The other thing is - which is more useful in future financing , the 60 cash or the keeping = equity and rental income . I guess the keeper = more and you always have it don't you , probably a dumb question. I so want out though.

Cheers

 

[Propertunity]

You know you should separate emotions from investment decisions don't you?
If the numbers work - leave it alone. If you can put the money to better use do something different, otherwise - leave it alone.

Maybe you can employ someone else to go over there and do what needs to be done so you can save the emotional angst?

 

[wylie]

Can you pin down why you hate going over there. Do you hate the house, hate the area, hate the time you have to spend doing little jobs?

I would keep it because it sounds like it will be good going forward, but I am curious about why you hate it.

 

[craigb]

every, no i mean EVERY IP i have sold i now regret it,

 

[Hulkster]

I've sold 7 over time and only regret one. Battle axe block with room for 6 or 7 units if I pulled the house down. Couldn't do it at the time but it was paying its own way. Win some, lose some.

 

[blaster]

Yeah , I've also regretted selling, I always seem to find an excuse . The origional plan with this one was sell one setup, keep one free and clear, land bank and income.

It was a good plan it's just turned out to be not a place I enjoy going to at all . The town , people, 3hr round trip . The thought of being tied to that !

Later I could afford to get things done but there's still 12 mths p/t work in the second I'd have to do myself at some point plus maintain the rental , it helps margins so much and normally I do enjoy it anyway.