Property Investment Articles
When to keep or sell a property?
As you build a property portfolio sometimes you can wonder if keeping a property makes sense. This short video gives an insight into how you can guide your decision to keep or sell an investment property.
A lot of people come to me and they’ve already started on their journey of building their property portfolio and they’re really wanting to understand how are they tracking and should they keep or sell the properties that they have ultimately this is quite a complex question but if you are really going to articulate at a high level what they need to be doing it’s all about trying to understand what’s going on with each of those investment properties.
So the first point of call for me is I would definitely be using some sort of property calculator to evaluate the numbers., The second thing I do is really try and drill down and create some kind of research report to identify what’s going on at a local level.
So, for example, things like you know what is happening to the population in that area, what is going on in terms of supply and demand, what are the prospects for that region, you know is it likely that you know the demand for property is going to go up is the type of property that you’re holding a type which is highly sought after.
So those questions you know can take some time to address but effectively the decision to buy or sell a property really boils down to whether it’s congruent with your strategy. So if your strategy is to create as much capital worth as possible using a certain style of investment then really what you’ve got to do is say is the property that I’ve got actually going to be able to achieve, that it’s very common that we buy investments on emotion or because somebody else’s opinion that it was a great idea and it’s really not until sort of three four years down the track that you start to go we’ll hang on this maybe this isn’t going the way that I wanted to it isn’t always necessary to sell an investment though if it’s not causing you any pain in terms of stopping you from investing other areas but you do need to assess honor I think at least six monthly basis to identify you know what is going on in the local market feature the properties that you hold.
I hope you found this useful look forward to connecting with you soon, Salena Kulkarni from Phoenix Wealth Group.
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