Seeking advise

Discussion in 'Investment Strategy' started by fairy, 14th Oct, 2015.

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  1. fairy

    fairy Active Member

    Joined:
    24th Jun, 2015
    Posts:
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    Location:
    Canberra
    Dear all,

    I am a new investor. Have PPOR recently completed knock down rebuilt. And 1 IP.
    IP value approx - 700k
    PPOR - spent 1.6 mil in knock-down rebuilt.

    Recently i was contacted by RE saying he has client who wish to purchase house like mine and willing to pay 2-2.5 mil. Not sure whether i should consider selling just made 900 k on 2 years old project. And move on with another house project like knock down re built. But i know i can get 2.2 any time in current market.

    Due to privacy i wish not to disclose location details.
    Thanks for understanding and advise.
     
    fairy, 14th Oct, 2015
    #1
  2. Jamie_

    Jamie_ Well-Known Member

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    Perth
    Why not?
     
    Jamie_, 14th Oct, 2015
    #2
  3. D.T.

    D.T. Specialist Property Manager Business Member

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    Keep the house - draw out the new found equity and go on an investing spree :)
     
    D.T., 14th Oct, 2015
    #3
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  4. DaveM

    DaveM Well-Known Member

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    Tell him you will sell for 3m and see if hes serious
     
    DaveM, 14th Oct, 2015
    #4
    TheGreenLeaf and Elives like this.
  5. WestOz

    WestOz Well-Known Member

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    I'd hold, or as Dave said, see how much he really wants it.

    Altho the 1st thing that popped into my head was an agent seeking high val commission, see if your interested, couple days later say sorry the person found something else, try and sign you up.
     
    WestOz, 14th Oct, 2015
    #5
    Rich2011 likes this.
  6. Azazel

    Azazel Well-Known Member

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    Hey @fairy , what's the question?
     
    Azazel, 14th Oct, 2015
    #6
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  7. wylie

    wylie Moderator Staff Member

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    If you are not being offered any sort of premium over what it is worth, you have no great dilemma.

    What were you planning on doing next anyway?
     
    wylie, 14th Oct, 2015
    #7
    Phantom likes this.
  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Possibly tax free money.

    If you sold what would you do with the money?
     
    Terry_w, 14th Oct, 2015
    #8
  9. dabbler

    dabbler Well-Known Member

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    I think they will tell you anything to get the listing, but it is your house, do as you feel inclined to do.
     
    dabbler, 15th Oct, 2015
    #9
  10. Rich2011

    Rich2011 Well-Known Member

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    2 to 2.5 ... ? Gotta love agents, good chance it would be close to 2 when push comes to shove and then you a long way from 900k profit... Only sign with a very short agreement with the agent and make it very clear the price you are after. And go hard on the commission rate :)
     
    Rich2011, 15th Oct, 2015
    #10