Just one of those nights that you sit back and think life through.
I would just like the forums advice on whether you would do things differently. So far I have 5 IP’s, all tenanted, they are a mix of duplex, townhouse and 3 homes.
The plan is for the coming year to pull down one of the properties and build a few townhouses, buy the block next door to the property I am pulling down (gives me then 6 townhouses in total)purchase other half of the duplex. I would keep all of the IP’s.
I am coming into a some money next year, would you continue to buy/develope and hold? I know your not financial advisers just wanting to know your views.
Thanks
Jenny
Jenny1
Hi Jenny1,
If it is working for you then I believe you should continue to buy/develop and hold or you may be able to sell some of the townhouses you develop and use the equity gained to fund other developments or purchases to improve you cash holding etc. It may be beneficial to sell all the townhouses if the return is quite good. Good position to be in though to have the funds to develop a 6 townhouse site. Keep up the good work.
Hi Jenny,
I agree with amerc79, if it’s working and you feel comfortable (and I suppose you are making money!) then go for it! Everyone’s different and only you can decide if the goal you have set yourself is right for you.
Good luck!
krsG’day matey…hope everything is treating you OK.
Just one of those nights that you sit back and think life through.Yep – we all have those along the winding road of wealth creation. Is the sacrifice worth it, etc etc ?? Let’s hope it’s done with a nice glass of red in one hand and a chompin’ big Cuban in the other. [cigar]
I would just like the forums advice on whether you would do things differently.Yes our group would do it differently…but then you know what I’m about to say…
My only comment would be don’t be fixated by the number of IP’s you acquire along the way…we’ve found that to be quite a misleading indicator.
I’d suggest going for quality every time – big land and great infrastructure…better growth, better tenants, less hassle, more cash flowing into your pockets. Management of a few fantastic tenants is preferable for us over a whole swag of scally wags. You and your plethora of PM’s will be chasing their tail forevermore.
When are you and hubby gonna shed that Canberra chill and come visit us over in Perth ?? We’ve got some doozy IP’s over here that just might break the mold and get you to your goals faster.
Hi Dazzling,
I swear you were looking through my keyhole when you said glass of red in hand (not the cuban cigar though) when contemplating our financial future[lmao].
I/We we would love to come over to Perth and chew the fat on IP’s you have over there, sounds interesting….
Not too chilly over in Canberra, although in jumpers the other night at a Chrissy do[wha]
Enjoy your girls and your break, keep us in your loop.
Take care
Jen
Jenny1
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