Has anyone else apart from Steve cashed up, even partially, recently?
And more importantly, what are you doing with the mulah?
Bruce
Mooloolaba, QldHi there,
yep – sold up half my investments and paid down the home mortgage – extended the LOC on home, and am ready to go again!!Yes I did as well.
Sold in an area that has had great cap gains, but the rental incomes are quite low.
Have paid out my debts (so now I have more CF+ props ) & have enough money left over to put back into several more deals that are CF+.
Looking forward to several more purchases this year – all going well
cheers
Shnook
Hi Guys
yes i have also. As i’ve been saying on this forum for the past 6 months. I’ve sold about 12 properties in the expectation that the capital growth on these cash positive homes will plateau in the coming years. But i have reinvested this money in NZ where the market is still rising and returns are higher. i’ve bought 17 houses there and still have a nice little cash reserve. I am continuing to look at opportunities to reinvest. perhaps you should ask steve where he has been buying in the past 6 months??
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
[
]STEVE ???????????????[]REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Hi Guys,
been cashing up too..
Cheers,
sisyes I have been cashing up ready for my move, but not taking it until I have it all in the bag.
my mortage is going to look good soon! yeah
Remember to keep your mortgage alive by keeping a small debit balance (if you’ve got a co-operating lender – and if you want to continue dealing with that same lender) you can avoid paying loan duty by utilising the same existing mortgage agreement.
all that has to happen is to keep the loan alive by (perhaps ?) placing say a $ 1,000 on deposit and them using this as security for the loan structure not to be cancelled.
Pisces
really? didnt know that
No. I buy to Hold.
Hi Yack
i agree, that is usually my stategy but why not have a few more up your sleaves like.
Buy to fix up and flog off for a handy profit.
Buy well below real value hold on and flog off 12 months later for a nice profit.
Shift your asetts from one area that has done well to another that you expect to do well.
Buy and hold is good but not the only way to make big money in property.
What annoys me is friends i’ve got into property who bought houses on my recommendation (showing off aren’t i) who made a 80% capital gain and then sell out. This friend who i helped bought 4 properties 15 months ago who now owns only his PPOR. yes he has made good money but now he’s out of the market completely. people that make big money in property are those in the market for a long time.regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
I agree again westan, although I have reasons for my cashing up…some things
I will hold my current properties, rentals
I am selling land off, which made good returns, because it is not income producing and because I do not have the time or inclination to fight one of the hardest, meanest, environmentally disabled councils out there! So selling those assets give me cash to buy income producing properties.As with other asset classes, the buy and hold strategy is for those in the long term.(as a rule) there are a number of well known authors that view the same theory…even as a core portfolio.
cheers elves
I am largely in cash but have (unforunately) had to settle on an of-the-plan purchase of 2 years ago. I say unfortunately because my cash is earning 7.5% at call with City Pacific. I also have a 12 month fixed term earning 8.75%. My view is that property is overvalued, that of course doesn’t mean that it won’t go up, but there surely is limited upside from here on.
The stock market is also not going anywhere fast so an 8% return on cash is good enough at this point in time.
Steve
Sold one unit SEQ which had gone up in four years but return not good enough.
Like Pisces said we kept the loan account open by not paying out the loan completely therefore L/C money is available.
Anna
Yes, sold some poor performers and a two good ones to pay out own home mortgage. Still buying though.
As to the buy/hold/reno/well blah; do what you are good at and comfy with. If you need the cash sell; if you can buy well and take a quick profit to go on with then why not?
TC
]STEVE ???????????????[
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