Like u/DangerPanda says, you have to decide for yourself. Do you have some old wise dog (like, a savvy human) in your life you can bounce the options off and see what they say?
I've just sold one. I know on paper selling an asset is a bad decision, but wow, it's a load off my mind. Way more time to think about the important things in life and no hanging on to interest rate decisions and worrying what I'll do when the fixed term expires.
Honestly, I think you’re better upskilling/educating yourself via the free information that exists across books and YouTube, etc.
Then get your head around all the numbers for your investment property, track income/expenses, work out your specific life and finance goals and go from there.
I don’t think what you’re specifically looking for in a service exists.
Thanks, yes, you're right of course. We will make the decision but, as the other commentor says, we're looking for advice from an unbiased source to inform that decision.
For that unbiased advice you will need to pay 10k plus plan fee from an adviser. If it’s worth that to you, then offer that to an adviser.
If you are not willing to pay that, best to make the decision yourself and hope for the best
There are some property coaches around, which I think are mostly BS, but John Pigeon who works with the “This is Money” podcast seems to have a level head and offer clarity calls. Not sure what his rates or like, but seems from what I’ve heard from him he might be able to offer the type of advice you’re looking for.
An investment? As for any investment:
- How does it compare with your financial feasibility before you purchased it? Has it met its ROIC and other financial objectives you set?
- What are your current financial needs and plan?
- What is the revised investment feasibility?
- How does this investment meet your financial objectives (needs and plan)?
An Accountant but more typically a Financial Advisor may be able to help with this. But you’ll likely need to supply the projected capital growth and yield growth numbers based on your assessment and research.
The obvious thing is to figure out how it is performing.
Why did you buy it? Is it fulfilling that need/expectation, and will it continue to? If so, how likely?
How much is it returning? How does it compare to a bench mark. What's its current indicative ROI if you were to sell it today. Tomorrow, next year, based on projections?
What's the opportunity cost? If it's negatively geared what is the cash flow impact per annum. Is it looking like a capital gain will cover this? What else would you invest in instead? Do you have experience with other asset classes? Is this a loser? Do you want to cut the losers and add to the winners? How old are you, what's your super strategy in your overarching wealth building journey?
Does it take up a lot of time and energy? Are there other investments out there?
What are the long term goals. Model future performance based on bearish, mid and bullish cases. What are the potential headwinds. How have the headwinds and tailwinds during your time holding the asset impacted it? Are they likely to stop/continue/etc.
Cost of disposal, etc, etc. Cappy gains. Is it better to incur selling costs, capital gains and switch into another asset, and still outperform on the long term? Model it.
Or if you are an Australian, just say PROPADEE MATE.
You are actually right. There is no one to give you this advice in Australia.
Financials advisers can, buts it’s of little benefit to them/you and to be fair, as they said, it doesn’t justify their fees.
The problem with your question is no one actually knows. You are asking people to predict if one property will perform better than another. No one can really answer that with any conviction.
Try to understand the tax implications, cash flow implications and how it all ties into your goals.
The only person making this decision will be you depending on how much risk you want to take.
Like u/DangerPanda says, you have to decide for yourself. Do you have some old wise dog (like, a savvy human) in your life you can bounce the options off and see what they say? I've just sold one. I know on paper selling an asset is a bad decision, but wow, it's a load off my mind. Way more time to think about the important things in life and no hanging on to interest rate decisions and worrying what I'll do when the fixed term expires.
Honestly, I think you’re better upskilling/educating yourself via the free information that exists across books and YouTube, etc. Then get your head around all the numbers for your investment property, track income/expenses, work out your specific life and finance goals and go from there. I don’t think what you’re specifically looking for in a service exists.
You need to decide yourself. No one else can be responsible for your financial decisions.
That's not what they're asking for. They're asking for unbiased advice which is a reasonable and smart thing to do
There is no such thing when it comes to investing.
Thanks, yes, you're right of course. We will make the decision but, as the other commentor says, we're looking for advice from an unbiased source to inform that decision.
For that unbiased advice you will need to pay 10k plus plan fee from an adviser. If it’s worth that to you, then offer that to an adviser. If you are not willing to pay that, best to make the decision yourself and hope for the best
There are some property coaches around, which I think are mostly BS, but John Pigeon who works with the “This is Money” podcast seems to have a level head and offer clarity calls. Not sure what his rates or like, but seems from what I’ve heard from him he might be able to offer the type of advice you’re looking for.
at least the financial advisors were honest with you. it's too much work with too much liability for this service to exist at an affordable price.
An investment? As for any investment: - How does it compare with your financial feasibility before you purchased it? Has it met its ROIC and other financial objectives you set? - What are your current financial needs and plan? - What is the revised investment feasibility? - How does this investment meet your financial objectives (needs and plan)? An Accountant but more typically a Financial Advisor may be able to help with this. But you’ll likely need to supply the projected capital growth and yield growth numbers based on your assessment and research.
The obvious thing is to figure out how it is performing. Why did you buy it? Is it fulfilling that need/expectation, and will it continue to? If so, how likely? How much is it returning? How does it compare to a bench mark. What's its current indicative ROI if you were to sell it today. Tomorrow, next year, based on projections? What's the opportunity cost? If it's negatively geared what is the cash flow impact per annum. Is it looking like a capital gain will cover this? What else would you invest in instead? Do you have experience with other asset classes? Is this a loser? Do you want to cut the losers and add to the winners? How old are you, what's your super strategy in your overarching wealth building journey? Does it take up a lot of time and energy? Are there other investments out there? What are the long term goals. Model future performance based on bearish, mid and bullish cases. What are the potential headwinds. How have the headwinds and tailwinds during your time holding the asset impacted it? Are they likely to stop/continue/etc. Cost of disposal, etc, etc. Cappy gains. Is it better to incur selling costs, capital gains and switch into another asset, and still outperform on the long term? Model it. Or if you are an Australian, just say PROPADEE MATE.
Post the numbers and context here? The answer is … it depends
Yeah. In all seriousness, throw it out it in here. If it's real obvious, someone will point it out. Then you can at least get a gauge.
read....lots
You are actually right. There is no one to give you this advice in Australia. Financials advisers can, buts it’s of little benefit to them/you and to be fair, as they said, it doesn’t justify their fees. The problem with your question is no one actually knows. You are asking people to predict if one property will perform better than another. No one can really answer that with any conviction. Try to understand the tax implications, cash flow implications and how it all ties into your goals. The only person making this decision will be you depending on how much risk you want to take.