Forum Replies Created
Thanks Richard,
That’s exactly the type of response we were searching for, from someone who’s had to make those kind of decisions.
Another question to yourself or other fellow investors ;
Do you often say sell a couple of the units to reduce your exposure to that one building and also inject some ‘new blood’ into the building and body corporate.
Our investment aim is to accumulate over the longer term however we are still coming to terms with holding the whole block or selling a few units. Given the current pricing levels in WA we thought it might be best to say sell 2 of the units and hold the rest. This allows us to capitalise on the current market conditions – given prices are predicted to retreat (at worst) or plateau for an extended period.
Appreciate your insight and thoughts..
regards
EastcoastGlobe,
sounds like you already have the answer, where you say
“until he mentioned that it wasn’t possible for him to do it because of council regulations”
one question – don’t council make the rules regarding occupancy / use of dwellings?
cheers
EastcoastHey Bill,
Good to hear 2007 will herald the start of your journey…..
Having bought several properties over the years, the advise i received prior to my first purchase still rings true.
A trusted mentor said something to me along the lines of:
Remember, land appreciates and buildings depreciate – so buy a property with a high proportion of land content.
Get finance approval first so you know your parameters and aren’t wasting your time.
Study an area/region so that you know what something will sell for within that region – particular your target type of property.
Don’t wait for a sale to come to you – let agents and owners know you’re ready to go. (my second property was purchased via a letter sent to house owners in our chosen area).
This conversation was held over a few beers – so I think it went something like that.
Hope this helps – and remember to enjoy yourself along the way.
cheers
Eastcoast
