Should you sell your investment Property
Should you sell your investment property?
There’s no doubt about it, the last 18 months have made some big changes in the real estate market.
So, if you own an investment, and you’re thinking about selling it… how do you decide?
Here are 3 tips to help you decide whether to keep your investment property or to sell it.
Tip 1 – Get an appraisal
If you’re considering selling your investment property, it’s wise to get an appraisal on the property to help indicate how much the property might sell for in the current market.
But don’t just get an appraisal on the sale price, ask for an updated appraisal on the rent too. You want to make sure you have both of those figures before you do anything else.
Tip 2 – Run the numbers
Book an appointment with your accountant (in person or on the phone) and run the numbers with them.
Bring your sales and rental appraisals to that appointment, as well as your end of financial year summary statement (from your property manager) and your depreciation schedule (your property manager should have spoken to you about arranging this when they first started managing the property for you). Having all these figures will help you and your accountant determine your exact position.
Tip 3 – Look at your goals.
There’s no doubt that property is a long-term investment strategy. So, take some time to consider your plans before you decide to sell (or keep) your investment property. Make sure that your decision lines up with your goals and needs.
Bonus tip – Give us a call!
If you want an updated appraisal on the potential selling (and renting) price of your investment in today’s market, give us a call or a message and we can give you those figures.
Okay, and here’s the disclaimer… this tip certainly isn’t financial advice. Please remember to seek your own independent financial advice before making any decisions around your investment property.
PS: What a client had to say;
I would also like to take this opportunity to thank you for being an amazing property manager, it has been an absolute pleasure dealing with you and you are an amazing women. Thank you for being you, we all think you are awesome.
I would also like to wish you and your Family a very Merry Christmas and a safe and Happy New Year.
Looking forward to 2017, I hope you are too
Jodie King & Chris Nugent
- Jodie King & Chris Nugent
I have known Jennifer for 8 years, I first met her when I needed to list my property for sale.
The property was situated at 11 Alice Street Mango Hill, Queensland.
From the start she was very friendly and professional, I was working away at the time and had no-one to look after the pool and garden while I was not there which made attracting potential buyers very hard, but through persistence, road blocks and other unseen forces Jennifer eventually sold my property.
Jennifer is a very hardworking professional and caring agent, there are no smoke screens or false promises from her, not like other agents.
I would highly recommend Jennifer to look after the sale of any property.
Thank you again for all the effort you put into selling my place.
- Lance Field
Robert and Gaelle
Just a short note to say thank you for acting on our behalf in the sale of Grayling Court house.
Behind the scenes, the sale was comparable to a Cecil B. DeMille production of The Ten Commandments.
Robert and Gaelle