All Topics / Help Needed! / To Hold or Sell ????

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of PetriaPetria
    Participant
    @petria
    Join Date: 2007
    Post Count: 19
    May 6, 2011 - 6:33 am

    Hi All

    This is my first post even though i have been a member for a while…..enjoy reading the forum topics regularly.
    We have a goal (like many) to be free of personal debt. Our goal is to do this in 5 years time and to do this my plan was to buy land, build and sell, plus a couple of reno's and a small subdivision's (dual occupancy). We are part of the way there, with 3 IP's (working on the 4th now) and our PPOR.

    Current total Assets (inc PPOR $420K) $1,250,000
    Current total Liabilities (inc PPOR $160K) $883,000 
    Gross Rental Income $870/w

    Combined yearly income of $88K with 2 primary aged children.

    My conclusion is that we are asset rich and cash poor. I would like to be in a better cash position yet still have investment properties. The plan was to sell off the IP's and payout our PPOR loan then use the equity to start again and do the above again (build / sell, subdivision etc) making the IP's cashflow positive, but now i am not so sure selling is the right thing to do?????  But did not want to get into trouble cash wise…….

    Any ideas or suggestions from fellow investors that may have had a similar situation would be greatly appreciated.

    Profile photo of PetriaPetria
    Participant
    @petria
    Join Date: 2007
    Post Count: 19
    May 6, 2011 - 6:43 am

    Ooops, sorry guys have just seen i have actually posted before, so much for my memory… :)

    Profile photo of ALF1ALF1
    Participant
    @alf1
    Join Date: 2011
    Post Count: 237
    May 6, 2011 - 8:15 am

    Hi Petria.
    Too little information. You would really need to speak with someone who you can share much more information than you would probably need to expose in this forum to be able to help you proceed with solid wealth solutions for your current situation and future goals. If you can't seem to get that help, please feel free to drop me an email below.
    Kind regards,

    Profile photo of PetriaPetria
    Participant
    @petria
    Join Date: 2007
    Post Count: 19
    May 7, 2011 - 2:26 am

    Hi Anthony, can you let me know what information you would require? 

    Profile photo of ALF1ALF1
    Participant
    @alf1
    Join Date: 2011
    Post Count: 237
    May 7, 2011 - 4:37 am

    Hi again Petria.
    For any professional to properly and with fiduciary duty of care to their client, one would need a basic Assets & Liabilities in combination with what your goals and concerns are. Ypu need to appraise the tax implications in line with your existing loan structures, your ages, self employed or PAYG, and so on……

    Profile photo of PetriaPetria
    Participant
    @petria
    Join Date: 2007
    Post Count: 19
    May 9, 2011 - 1:22 am

    Ok, thanks i will think on this one.

Viewing 6 posts - 1 through 6 (of 6 total)

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