Forum Replies Created
- Originally posted by Terryw:
I think option 1 sounds good. You can increase your tax deductions and sell at a different time when the market is higher.
Terryw
Discover Home Loans
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Send an email to get my newsletter.I tend to favour this option as well. Thanks again for your advice!
Originally posted by Bridgebuff:Hi Dan,
welcome to the forum. I had two initial reactions to your post:
– renovated but structural problems. Structural problems cost a lot of money but do not add much to the PERCEIVED value of a property.
– 5% yield is not great and definetly not cashflow positive.
Both points hint in the same direction for me. Sell now. Besides the property market has peaked and you will not get a lot of capital gain in the near future.
Look for greener pastures. You seem to be on the right track.
Good Luck
Thanks for taking the time to respond – much appreciated!
I was thinking of holding onto our property in Williamstown as the research I have done suggests Melbourne is ready to start rising in the next 3-4 years and Williamstown has been ticking along nicely while the rest of the city remains stagnant..
If we sold we could not buy back into the area – too expensive. Are you suggesting we sell and then rent while we invest?
Ta
Dan
