If only I did not sell…. Made money but missed out on the bigger $$$$$ Croydon Vic…. Sold DA.development to a builder My double fronted I purchased for peanuts in Coburg, Vic
As the saying goes, a bird in hand is better than 2 in bush. Also, no one has gone broke earning profit. I believe there is no right or wrong time to sale as long as it fits in your strategy and helps you in achieving your goals.
Hindsight is always sooooo clear. There is many missed opportunities that just didn't happen for various reasons. Back in 2003 I sold my first IP because I wanted to use the profit to build our PPOR. I didn't know about equity loans at the time and I wish I had - if I had taken out the equity loan I would have then enjoyed the property doubling in value between 2004-2006. I did invest the money in another growing asset and that's how I console myself. I am sure the money from Croydon purchased another property for you that also made money
If only I cashed in my share portfolio a year ago, I would have 18% more in cash and a bigger CGT bill to pay .
Geez how many do you want luv? I sold to a builder with DA in 21 and I reckon I'm a lot happier than them. Sure what will be there in years to come is worth a lot more...but who needs that drama these days. A year later they're still digging dirt.
For every one that got away what about those near missed bullets you dodged? ahhaha Where do I even start my tale of two city type stories? 2007: BIL and sister wanted to offload a place in the same street as my folks in GW (blue chip area within GW) as they wanted to move overseas. Asked for $890K at the time fully renovated early 70s BV a stone's throw from the Glenny CBD. I baulked, was 25 and got cold feet. They said they'd hold it for me for another 3-4 years till they returned but at market price minus a bit. 2010: Crashed and they were willing to part for $950K as they wanted to buy multiple houses which were cheaper for more income. Sold for $1.1mil in the end (they held off till late 2011 though). Market price is now estimated to be $3.0mil (780m2 block perfectly rectangular no incline). I parked my money into Oakleigh South for $750K, now worth circa $1.2mil but you could see the huge diff. 2017: Purchased probably 6 months before previous market peak in Heidelberg West for $730K - I'd say probably 80K too much. 3 bedder old slab concrete public housing but on a 600m2 block. It's now worth $900K on last appraisal - was actually keen to pull up stumps last December given the age of the building and other restrictions. Three months prior there was an opportunity to dabble in a warehouse commercial property - Springvale, decent exposure road not too far off a main artillery. They asked for $890K ex. GST, Mrs. was overseas and so I baulked as well having cold feet. Low balled them $850K and wasn't too keen on it being a one way traffic street. The street actually looked wide enough for 2 way traffic given the next street is the same size which I actually measured and also couldn't figure out why it was one way given they only put this grass/concrete patch at the end of the street. Two years later, I noticed it was removed by council and now a 2 way traffic street. I recently saw one across the road, exact replica of the one I was semi interested in go for $2.0mil, fuelled by pure speculation I know but still can't help but wonder what if...onion in ointment is that the premise actually rented out for $45K p/a.
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