ROMA QLD IP - How to sell the IP

Yes it would not cost me to hold anything considering I will have to earn at least 100k each year. Although I personally not a big fan of negative gearing but no option at the moment.

 

I hope that there will be more buyer eventually as there were hardly any buyers couple of years before. I was under the impression that Roma Hospital was upgrade which was partly completed. Thanks for the update on hospital.

 

these are great for creating critical mass in towns.

 

If you make a capital loss, when you sell you most likely can offset that against capital gain in the same tax year, so do you hold any other investment assets that could sell for a gain to offset the loss? Speak with your accountant.
Sometimes unfortunately we need to cut our losses regardless and learn and then move forward to seek opportunities elsewhere.
Hence why many investors will not progress past 1 or 2 IPs, they jump in without some understanding and knowledge.
Why did you invest there in the first place, what is your investment strategy, what do you wish to achieve from property? Many who do not understand and don't answer such questions unfortunately get into trouble.
This is my opinion only, but I would cut my losses learn from them and then read all the books on property investing for at least 3 to 6 months, decide what $ value you wish to achive from RE, and then what investment strategy you will go with (e.g. buying say in major 3 or 4 capital cities, within 10-30kms, units or houses with renovation potential, where at least 100 properties sell per year, not in one industry states or town, etc....).
Hopefully that can help you a bit...otherwise no one has a crystal ball into the future if things turn around?

 

What do you mean by "critical mass"?

 

Critical mass Critical mass (sociodynamics) - Wikipedia
Basically "self sustaining" is what I was referring to. Hospitals increase local income via employees (which are not going to be easily automated or outsourced) - nurses and doctors spend in local towns as they are usually cbd based in small towns so great for local fast food and coffee business, staff also bring kids which can increase school attendance, the presence of a hospital increases people's willingness to move into an area for perceived safety, building a new hospital ads construction workers which also brings kids to the school which brings teachers etc etc. Basically they are evergreen population hubs far more stable than mines which bring in workers who can leave as fast as they arrived. Great anchors for small local economy.

 

And even if you don’t, you can carry forward the capital loss to be used against a future capital gain.
Marg

 

I do have another IP which is duplex.

Above market value I am not too sure about the figures.

Even I have used debt recycling strategy to make my home loan into investment loans. Also have used credit card BT to make sure, I am making most out of them to reduce my home loan interest rate. I am very much aware of credit card BT trap but I am very focused on that as well.



I can convert my home loan to reduce my IP1 loan which is for Roma but then I will loose my entire savings. Not sure what else I can do make things more effective.

 

All those areas have dropped prices big time since 2013 including miles and chinchilla etc
Sorry but there’s really no answer but to lower price til someone will buy it - talk to real estate agent but not those u bought it thru- just try to keep rented and try to keep property well maintained- if you don’t it’s really a downhill slope with return and type of tenants

 

Rents have started to rise in Roma and there appears to be a slight shift in the market. There has also been some articles out about developments with Gas in the area. It seems like there are some good signs that are beginning to show.

 

Hi Lucy and JJ1081 - I am in the exact same circumstance as you both. Luckily we have been able to keep it rented out and have noticed this year that the rental demand has picked up, allowing us to be able to increase the weekly rent. I'm aiming to hold it for a few more years while the property prices go up and hoping to sell it for what we originally purchased it for. Fingers crossed. It's nice to connect with people going through the same situation.

 

Hi Carlbren,
Thanks for your post, yes it is great to hear from other people in the same position. Ive noticed lately that the rental and sales market in Roma has picked up. Hopefully this is a good sign of things to come in the near future

 

Carlbren & lucy if you dont mind I want to know what real estate agents are you with? I am with Raywhite. Just wanted to know your experience with them? Have you done any appraisal to see what is approx valuation for your property?

 

Hi, we are with Ray White and have a pretty good experience with them. It looks like things are picking up in Roma. Fingers crossed, it continues.