Hi Tom,

Thanks for your input. Your right in saying that I need to think about my goals as I have never really had a plan and am unsure whether I do fit into the renovate to sell crowd or the buy and holds. I have built some equity in my PPOR so my thoughts were to either sell and wait for better buying opportunities in the future (whilst renting which I am ok doing) or use the equity to purchase again, making the new property my PPOR whilst I renovate it.

To be honest, I have been tempted to take the “quick money”. As the saying goes, a bird in the hand is worth two in the bush, and with the property market heating up it has been tempting. On the other hand there are definite pros to buying my first IP rather than selling and it may be a safer “long term” option.

You make a valid point in saying that timing the market is less critical in a buy and hold strategy and I will definitely keep this in mind when I crunch the numbers and make my decision later in the year. It’s hard to speculate on how much property prices will take a dive (if at all) and to compare them to entry and exit costs but I’ll have to see what happens and weigh it all up when the time comes.

Thanks again

Hi Crj,

Thanks for your response. I guess that I don’t know the answer to your question. I am making an assumption that what goes up eventually comes down and that the rapid growth may not be sustainable based on historically low interest rates and other economic factors. I guess I always have that buy low and sell high mentality but it’s hard to know what will happen in the market. If prices don’t fall and I do sell then I would definitely miss out.

I have heard a lot of people saying that there is still buying value in qld and Brisbane. What are your thoughts Crj?

Cheers JC