Anyone selling?

Discussion in 'Investment Strategy' started by MTR, 15th Sep, 2015.

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  1. Jingo

    Jingo Well-Known Member

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    We sold an IP recently that needed a lot of $ spent on it including underpinning etc. We had the rest of our IP's valued and were able to release the title before we sold.

    This allowed us to keep the original borrowings which are fully offset from the proceeds of the sale. Planning to invest in LIC's, ETF's and shares now to generate income.
     
  2. Cactus

    Cactus Well-Known Member

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    Good idea.
     
  3. MTR

    MTR Well-Known Member

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    That's great, how far off are you from financial freedom if you don't mind sharing, must be just around corner now

    MTR:)
     
  4. Jingo

    Jingo Well-Known Member

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    We have worked out assets we will keep and those we will sell to be debt free. Once we do this, we will be financially free.
     
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  5. GreenGoblin

    GreenGoblin Well-Known Member

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    Great stuff, Jingo! I'm curious, though - you said:
    With the sharemarket near record highs, I'm concerned there's likely to be limited further growth and a greater potential for a fall in share prices (and unit prices). How do you plan to preserve your capital via LICs, ETFs and shares?
     
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  6. Jingo

    Jingo Well-Known Member

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    Hi GreenGoblin,

    I'll be investing on the dips. I think the market is still too high now to jump in, but have some powder dry ready to go for when the market retreats.
     
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  7. MTR

    MTR Well-Known Member

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    can you let me know when it's time to jump into inner Melb units.?;)
     
  8. Jingo

    Jingo Well-Known Member

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    Buy a terrace house within the zone of a well respected select enty school. You'll pay a premium, but reap the benefits long term. Stay away from units.....
     
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  9. MTR

    MTR Well-Known Member

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    Really, older units, 2 bedders, smaller block in blue chip...... no good?? Still looking at around $700K for this product in blue chip inner city areas????
     
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  10. Jingo

    Jingo Well-Known Member

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    Ok, I thought you were thinking high rise units. Older style should be ok. They are well built and more spacious than the modern high rise units. Also, less on the block means each flat/apartment has a greater share in the value of the land.

    Try to buy one with the living areas facing north, balcony and off street parking.
     
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  11. melbournian

    melbournian Well-Known Member

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    some in balwyn, or balywn north or deepdene sell around 700kish - 2 bed in block of 3-4 in the school zone. Over time these will be over a million.
     
  12. Northy85

    Northy85 Well-Known Member

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    I'm currently selling a Logan property in Slacks Creek. The price is right and I want to move the funds into a new PPOR on the Northside.

    I only held it for 2.5 years but have doubled the money I put into as the deposit and it was positive cashflow the entire time. Sure it will most probably go up more, but hopefully so will the new place, and I can get a way better interest rate with the lower LVR from the bigger deposit.
     
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  13. MTR

    MTR Well-Known Member

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    that is brilliant, Is Logan a booming market? or did you purchase a bargain at the time
     
  14. Northy85

    Northy85 Well-Known Member

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    It's not really booming, but there is some fairly scattered pricing going on at the moment with higher than expected sales. I think I bought well, and only did a small amount of work on it to bring it up to scratch ($7000). Fingers crossed that everything works out with the sale.
     
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  15. D.T.

    D.T. Specialist Property Manager Business Member

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    Selling in Elizabeth : 20% gain over 24 months, plus positive cashflow during that time but need to move onto lower headache giving investments.
     
    Last edited: 7th Sep, 2016
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  16. MTR

    MTR Well-Known Member

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    all the best:)
     
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  17. ellejay

    ellejay Well-Known Member

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    I had an idea today that I could sell my Melb and Shellharbour ips and buy acreage near Wanaka NZ, put a small house on there, maybe make wine, have some goats and llamas :) I'd still have income from a couple of modest ips left to pay for bills and leisure. Probably not a great financial move, I'd maybe miss a lot of growth in outer Melb and my Shellharbour ip is amazing so close to the lake. What's the point of holding ips forever though? I know some people have kids or big commitments to family etc. Interesting questions. I just thought today, I could probably buy something amazing to live in that would also have good growth prospects.
     
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  18. MTR

    MTR Well-Known Member

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    sounds good to me:)
     
  19. melbournian

    melbournian Well-Known Member

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    you're a doctor right? I remember from sommersoft days

    I'm putting my Pt Cook place on the market since it has gone up - it was actually sold for a lower price but the purchaser didn't have enough funds to settle the place (so it works out better this way)
     
  20. MTR

    MTR Well-Known Member

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    teacher:)