Anyone selling?

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

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  1. craigc

    craigc Well-Known Member

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    Sold PPOR SE Melb. Went very well - owned just over 12 months & after all Reno, stamps, agent fees etc profit over 100k on 500k purchase. Realise now I didn't buy that well but used that agent to sell. New PPOR for (cosmetic) Reno has been purchased well as 30k less than previous purchase 12 months ago (from another agent) in the same suburb.
     
  2. DaveM

    DaveM Well-Known Member

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    Selling a prop currently (under contract), looking to re-invest proceeds
     
  3. sash

    sash Well-Known Member

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    Was looking at selling 1 dogs and one lower performer...looks like they have started to turn to swans...

    120k house in North Albury...now worth 190k bought in 2009..market starting to turn....and land back of this house has been developed into T/H
    205k house in Tenambit (near Newcastle/Maitland) did 20k reno....now priced at 360k and rapidly rising....bought in 2012

    Gawd....this is hard...just when you things are dogs...they keep going up.....don't know what to do now....
     
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  4. sash

    sash Well-Known Member

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    Interesting...why don't you hold longer ...or do you think the Northside of Brissie offers more growth?
     
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  5. Cactus

    Cactus Well-Known Member

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    Did you end up selling Melton or keeping???
     
  6. sash

    sash Well-Known Member

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    Ended up keeping it......Melton is now moving quite well....
     
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  7. Cactus

    Cactus Well-Known Member

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    Yes, that's why I wondered. I'm pretty sure when you were talking about it I was asking why you were selling, Melton is moving.
     
  8. Tonibell

    Tonibell Well-Known Member

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    Just getting one ready to sell in Padstow after holding it for 12 years.

    Should be around triple the purchase price and a very large tax bill.

    We made it dual occupancy (1,000m2 land) a few years ago - so have invested a lot of time and funds in to it.

    A good time in the cycle plus a "project" in Wynnum means it's time to sell.
     
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  9. Gockie

    Gockie Life is good ☺️ Premium Member

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    That would be a great one if you could strata it, sell half in one financial year and the other half in another --> less of a hit for taxes. You might get more for each half too if it was strated.
     
  10. Beano

    Beano Well-Known Member

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    Or ...you can split the title land (lessor) building (leasee) sell the building no CGTax as you have just sold part of the property reducing the cost (accountants on PC is this correct?) Keep the land.
     
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  11. Gockie

    Gockie Life is good ☺️ Premium Member

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    Great one to investigate.
     
  12. MTR

    MTR Well-Known Member

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    Good strategy to reduce tax if possible
     
  13. Tonibell

    Tonibell Well-Known Member

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    @Gockie not the sort of dual occ that can be strata titled - it is a granny flat sort of thing. The Neighbour has a similar block and wants to sell them together to a developer but that is not the preferred option at the moment.

    @Beano that sounds more like a caravan park arrangement - can't quite seeing it working for a residential house. But definitely lateral thinking.
     
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  14. RetireRich101

    RetireRich101 Well-Known Member

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    are you keeping Marys for this cycle then?
     
  15. EN710

    EN710 Well-Known Member

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    I have one for sale candidate, but not for anytime soon. It's not totally a dog and not costing any money at the moment, but it might not fit what I'm looking for anymore in several years. If the price is right, I might sell and reinvest somewhere else.
     
  16. melbournian

    melbournian Well-Known Member

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    being a dog is ok :)

    upload_2016-12-30_14-54-45.png
     
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  17. EN710

    EN710 Well-Known Member

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    Your kind of dog is ok :p costing money but I'd happily spend lol
     
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  18. Tonibell

    Tonibell Well-Known Member

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    The airport project gives some upside out there - so hold a bit longer.
    What about you - I thought you had sold out there ?

    It would be the next on the list to sell - we want to hold our PPOR as long as possible even though it now represents 20+ years of gross earnings (tax free too !). The other one in Sydney is the "Plan B" PPOR - so won't be selling that.

    Only selling Padstow to give us some options in Wynnum - might be making someone an offer they can't refuse.
     
  19. big max

    big max Well-Known Member

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    Most of my allocation is Brisbane and Gold Coast. Based on current market conditions and cycles inwould not be considering selling anything until 2018 earliest. But most likely still in accumulate and hold mode until 2022-2024 if not longer.
     
  20. RetireRich101

    RetireRich101 Well-Known Member

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    I only sold the Penrith early this year, but it has gone up another 5-10% :(..trying to master my technique of picking the bottom and peak.. but failing miserably.

    NM is achieving a good yield at the moment . It's achieving 9% yield on purchase price plus conversion of garage to granny flat...that was done in 2014 though. If I have to calculate on today's property price probably 6% yield ( hey there's still 6% yield in Sydney, buy my house :D:p)
    Land tax maybe manageable for now, but still 50/50 thinking selling another if Sydney continues to rise in 2017, but not sure it will be NM or others..

    I think we're on similar boat, selling Sydney to pour some money in our Brisbane development.
    Hope your Wynnum development or your decision of what to do with the land is coming along nicely.