Hi All!!
We own 2 investment units, ( 1 in Marcoola, Sunshine Coast QLD), (1 in Palmerston, NT)…. plus our home in Cooran, QLD. We are in the process of selling our home to buy more land out here and build as it is such a huge growth area, plus we need more land to set up our business. In doing this, we will need to sell one of our investment properties to be on the safe side financially, and to set up the business and new home properly… the question we have is……. Which are would be the most wise to sell in at the moment… Marcoola or Palmerston?? Both properties are 2 bed/1bath units. Both selling for approximately the same amount.
I'd tend to consider the purpose rather than the property itself.
That is, once you consider that property A has a better growth potential than property B and make that decision (sure you'll look back in years to come and say 'oh we should have held on to both etc) then you will just live with it. I have bought and sold numerous times as well as having passed up on countless others (regretting many non-purchases), however I consider that if I wasn't in a position to purchase at the time, then there is little point regretting it.
You have considered your options and decided that in order to establish your new business you must dispose of one IP (that is the reality based on your preferred risk levels) now you must decide whether holding onto a property in the NT or locally will be of more benefit.
The NT historically suffers from a rental housing shortage which results in good rents (is this going to be the case forever)? Alternatively, there has already been alot of growth in Qld and the Sunshine Coast (when will the bubble burst)?
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