Sunday, December 5, 2010
The Big Offload
After three years of crappy crappy growth, and a few life changes too mind you, out portfolio has to "compact". In other words, I've got to flog off a property or two. So below, I present to you what we have on the market currently.
1. Ferny Hills - This has got to sell. It's costing us a bucket in holding costs and it just hasn't done what it was supposed to in the time we owned it. It's supposed to be worth $480,000 by now, but I think we'll be lucky to get what we're asking.
2. Invermay - a cute little cottage that is very well located. Not desperate to sell, but we'll see if we get lucky.
3. Lachlan - 29 acres of Tassie bliss, this is the bargain out of this list. It's worth much more I think, but no bites yet.
4. Ingham - Our beloved PPOR (well, beloved would be going to far, let's just say the place we have lived in for the last year or so) is also on the chopping block. It's a decent enough house with plenty of space and should suit first home buyers. Hopefully someone sees the potential we saw. We're moving hence the sale.
As soon as one sells (hopefully Ferny Hills), the others will probably come off the market. This actually forms part of my portfolio strategy, however I had wanted to wait much longer before exercising a sale. Tough times calls for tough measures.