Did you Sell any properties during the boom Cycle (2013-2017)

Curious to view whether investors took some money off the table during the boom cycle.

There is no right or wrong.
However I am a huge fan of selling down, reducing debt and moving on, because booms don't last forever.

I tried to start a poll, but failed miserably..... so this is it.. Failed

MTR

 

Yes. I sold a Melbourne IP at the end of 2015 and reinvested the funds into two projects in Perth. I am in a much better debt and cashflow position now.

 

Thats great especially now interest rates are rising

 

Yes, sold 2 in NZ and 1 in Melbourne . Just about to sell in Shellharbour. Got the selling bug

 

So easy to sell?

 

Yes offloaded them just as the market was going off in those areas. Parts of NZ are still doing well like Hawked Bay so keeping those.

Outer Melbourne sold in the first week but it was short walk to the train.

 

Would love to sell but 1 for the fun of it to take some cash but the ones that will give the biggest profits (close to doubled) I feel are too good of properties (low maintenance good tenants andsuburbs) to sell so soon (only bought in 2016) I have to wait for the next boom to sell of one that’s a bit of a dog as it just wouldn’t make sense to sell now as I know I’d regret not waiting while it’s not hard to hold it.

 

Ya. Sold one. It was nice. Not the property but the sale. I'm still feeling it lol.

Took 2 months to sell. Over 100% profit. The buyer resold after 12 months on the market and took a hit in the pocket.

I kept attending the opens and made ridiculous low offers till the agent told me to bugger off and never come back lol.

The commodore got a new set of spark plugs and some fresh oil.



Still feeling it.

 

Where was the property??

 

Did you sell with tenants in situ, or did you kick them out first, styled the property etc?

 

Vacant possession for all of them. Minimal styling. Actually the one I want to sell in Shellharbour is giving me a dilemma because I should offer it to the long term tenants but Im thinking if I moved them on a reno could be lucrative. This is where I struggle..

 

I have been playing the property game for nearly 40 years.

I have never regretted ANY property I have bought, having purchased my first one in 1979.

I have regretted EVERY property I have sold, having unloaded my first one in 1981.

I sold it for $42,000. Today it would be worth around $750,000 .

Hindsight is a wonderful thing. I have learnt my lesson.

Hence, sold nothing between 2013 to 2017.

Some would say that I have no idea what I am doing. I would have to agree with them .

 

Hmmm I don't want to live for years on less cash flow than I'd like and then die holding millions of dollars of property equity If you sell it doesn't mean you can't reinvest the profits and still get future growth with the added benefit of more cash flow to enhance your life today. Everyone is different.

 

I'll make you feel better about that one, sad property doubles every 7 years apparently, they'd be about square however If it takes longer ie bought at wrong time, they'd be behind over 37 years.

 

For me, the best way to generate cashflow was to own businesses. I bought two, started two from scratch and have sold four of them.

For me, they generated way more cashflow than I could ever generated from property. So much so, it enabled us to have a great lifestyle (even better that we are retired), buy a large share portfolio in our SMSF (loved it when Peter Cisetto allowed us to drop $100,000 pa each into our SMSF) and to buy and hold multiple properties.

My aim is to die holding millions in shares and millions in property, all debt-free.

We are not there yet but I have warned my grandchildren that they will be up for a lot of CGT when our trusts expire.

We have paid a fortune in tax over the years. I don’t need to pay anymore, especially CGT.

You are right. Everyone is different .

 

Sydney south west. Not the Druitt. Holding that for next boom.


Looking at Boston now for a cheap one bedder. I heard Boston is a real goer. Say 100K US.

 

That didn’t cheer me up .

It made me feel worse . Someone else got all that growth.

Let’s hope they were investors and they paid heaps of CGT.

Now I am feeling better .

 

I would be surprised if you could buy in Boston for $100k
Most markets are moving in US

 

For sure you can. But it is a parking space. One day I could use it when I study at Harvard which is just up the road.

 

Love your comment.

Despite what the “paid for comment people” try to tell you there is no science and little expert advice other than common sense and research. So you can’t pick the highs and lows except when it’s too late.

I sold down half my portfolio during 13-14 at prices that would make you cry to fund my divorce, ex didn’t want property but cash for her half. One sale at $4.2 has resold at $21m.

I’m a big seller atm as I have this year sold 20 acres down on my Sydney portfolio and have only 15 acres left. 10 of which I would sell at the right price. The other is only a recent purchase. I would also sell one of my two commercials as the market is good. But the other holds my office and some of my cars so no. My house is not of a great value so unless I find something “more suitable” (ie more carspaces and garages) I’m staying

I am about ready to put my Melbourne pad for sale at a slight profit as I use my ex wife’s at a good discount and mine sits empty. I will keep My Melbourne portfolio of student housing as it’s a great return and I have a great idea how to increase the value by 50% when I sell.