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Sydney, Australia, sell your properties

Is it time to sell your properties in Sydney?

By Bianca Dabu

The ‘prime markets’ of Australia, particularly Sydney and Melbourne, have seen a significant decline in home value over the past months. Should investors consider selling their assets based in these markets and seek investment opportunities elsewhere?

Smart Property Investment’s Phil Tarrant has nine income-generating properties in New South Wales, eight in Queensland and one in Victoria, including townhouses, units and freestanding houses. Over seven years, these assets have produced 39 per cent compounding growth from an initial investment of around $250,000.

While all of the properties in his portfolio definitely served a purpose, most of the growth came from the assets based in New South Wales. “I'd like to say that we bought in the right place at the right time,” the investor said.

According to Right Property Group’s Steve Waters, while there’s no denying that a bit of good luck contributed to the portfolio’s success, since Mr Tarrant happened to enter the market just as it’s starting to recover from hitting the bottom, the ultimate driver of growth is the investor’s decision to take advantage of the present opportunities.

He explained: “It's about controlling the opportunity. You just happened to have all the proceeds of that opportunity come in a very short period of time. Sydney has outperformed the averages so to speak.”

“Investing is about controlling the opportunity. It’s looking forward and around the corner, over the hill, to wherever the fundamentals are and setting yourself up to take advantage of the growth that's going to come,” Mr Waters highlighted.

Aside from getting into the investment game sooner than later, investors can also maximise their wealth-creation opportunities by improving their cash flow.

Moving forward, Mr Tarrant and his team are looking to adjust the portfolio’s cash flow in order to have more chances of adding assets and ultimately enjoying a higher return on investment.

As most of his properties in New South Wales, particularly in Western Sydney, Southwest Sydney, CampbelltownCampbelltown, NSW Campbelltown, SA, Blacktown, Mount Druitt and PenrosePenrose, NSW Penrose, NSW, have already doubled in value, is it time for the investor to sell down in order to improve his portfolio’s cash position?

Hold or sell?

When you decide to sell your properties, there are two main factors to consider in order to determine whether you actually profit from the sales, according to Keshab Chartered Accountant’s Munzurul Khan.

1. Associated costs

If the plan is to sell a property and recapitalise the gains into other markets, the investor must consider a variety of associated costs, including the selling cost, the cost of capital gains tax (CGT) and the repurchase cost.

According to Mr Khan: “There's so much more than just selling a property. There's CGT, exit fees in terms of your loan, agent's costs and buying costs—there's always a cost somewhere.

“If you are contemplating actually selling any asset, no matter where it is, have a look at the net result. You need to fulfil all of those costs. When you break even, then you are making the profit,” he added.

2. Timeframe

Aside from the costs associated with selling a property, Mr Khan also highlighted the importance of ‘time in the market’ versus ‘timing the market’.

When selling an asset to have it replaced with another asset, consider the timeframe of your investment. The New South Wales property market, arguably, has not reached its peak yet. Whether you get out of it in the next five to seven years, or within one to three cycles, can influence the profit you gain from your property sale.

Mr Khan explained: “On day one, you most likely start with a negative equity. You need to fulfill that negative equity and then you go into the growth. The question is: Once New South Wales reaches its peak, do we take some of the profit as such?”

“New South Wales properties arguably [haven't] reached [their] peak, but if we look forward, do we still see that history is repeating itself? Do we still see the similar level of growth?” he added.

At the end of the day, investors are advised to make sure that they actually get their money’s worth when selling instead of a mere immediate gratification brought by extra cash.

‘Sydney is Sydney’

While the property markets of New South Wales, particularly Sydney, are not in a stellar condition at the moment, the capital city will remain a global landmark. Getting out of it and letting go of the investment opportunities it has to offer will have certain repercussions.

Investors can opt to sell their property, take the money and recapitalise it in another market, like Queensland or Western Australia. At the end of the day, it might be harder to get the same quality of properties you had in Sydney, at least not for an affordable price.

Should you decide to reenter the Sydney market, it might also be a lot harder than when you first stepped into the property ladder years ago.

According to Mr Khan: “I think that's the big $64-million decision to make. Sydney is Sydney, it's not regional Victoria or Queensland or wherever else it is. It's Sydney, it's a world-class city. To replace what you're selling in a city like that, there's a bigger cost involved.”

Sydney’s ‘brand promise’ is likely to maintain the demand for dwelling in the area. Moreover, since Mr Tarrant’s properties are in the more affordable suburbs of New South Wales, it’s largely preferred by tenants looking to reside in the capital city.

If, like Mr Tarrant, you are fortunate enough to be ‘in the right place, at the right time’ years ago, when the NSW markets are just on their way up, the best decision would be to hold your properties for as long as you can and find other ways to improve your cash flow, like adding value through renovation, Mr Khan said.

“When there is a bit of profit after the property has been sold, that's the immediate gratification, so to speak. If we were to hold on to it, that is the additional level of the growth. That is the additional opportunity gain,” he concluded.

 

Tune in to the Phil Tarrant’s latest property portfolio update on The Smart Property Investment Show to know more about the strategies he plans to implement in order to continue growing his multi-property portfolio.

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FROM THE WEB

podcast

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Promoted by Blue Ink Finance.

Budgeting tips when your Personal Debt is High.

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Credit card debts and personal loans are the greatest obstacle between everyday people and their potential to live in financial freedom.

Of course, I understand that sometimes getting a small personal loan is absolutely necessary. Unexpected costs like medical expenses can make personal loans the only option.

However, the majority of us have debt simply because we spend more than we earn.

In either case, your number one priority is unlocking those chains of debt that are holding you back.

I’m going to give you some tips for budgeting with hefty personal debt, but first I want to talk about the impact those loans are having on your life.

How much is your debt really costing you?

Over the years that you’re paying off your loans at the minimum repayment, the interest on those items will end up costing you multiple times more than the original borrowed amount - and those endless due dates will haunt you. There’s no freedom in that!

Let me give you an example. You’ll be shocked, I guarantee it!

Let’s say you have around $4,000 of credit card debt, charged at 19.99% p.a. If you paid only the minimum monthly amount, it would take 37 years to pay off the total debt.

How much will that $4,000 debt cost you? $19,200. Depressing, isn’t it?

You might feel like you need a full-blown money explosion to get out of debt, but don’t despair just yet.

What you need to do is arm yourself with a strategic budget, and I’ve got some tips to help you.

Budgeting while you have hefty personal debt is tough, but possible – and it’s essential for eliminating that debt forever. Let’s have a quick look at how you can start to tackle that mountain of borrowed money.

It’s time to take charge and break some chains!

There’s a method for reducing debt that has an excellent success rate, if you’re committed:

  1. Make a realistic budget (and stick to it)
  2. Reduce your expenses and/or increase your income until you are in the black
  3. Save an emergency fund first
  4. Pay off your personal loans and credit cards, starting with the either the smallest debt first or the debt with the highest interest rate
  5. Revise your budget as you go along.

Why an emergency fund is paramount to success

You’ll see I’ve put saving an emergency fund before paying off your loans. Even a small amount initially, like $500, is enough to stop the cycle of borrowing to pay bills, then paying out even more in interest each month, which leaves less in the bank to pay the next bill.

Once you have a buffer saved, then you can start aiming some serious firepower on your debt, and that’s when it gets exciting!

Think back to my credit card example. If you upped the payments each month from $84 per month to $212, you would have the card paid off in two years and save $14,285 in interest. That’s worth a little bit of effort, wouldn’t you agree?

Tips for a budget that works

You may need to cut back drastically on your expenses to clear your debt, but here’s some other ways to make the most of your budget:

  • Find micro-ways to reduce your expenses every day. Make work lunches at home, cancel a pay TV subscription, find a better phone deal, or pass on your afternoon chocolate bar from the vending machine. Instead of spending $40 on a takeaway dinner, have a bowl of cereal!

  • Find a friend who will keep you accountable. Having someone else who shuns a pricey outing to the day spa for a walk along the beach instead will make you feel better about saying ‘no’ to expensive events that will blow the budget.

  • Refinance your home loan to release some funds. If you have a mortgage, talk to us at Blue Ink Finance about the possibility of refinancing your home loan to allow you to release some equity to help clear your high interest, personal debt. It’s not always the best strategy, but it’s worth investigating, especially if you can consolidate it into a home loan that has a significantly lower interest rate.

  • If your income increases, leverage it! The only place that extra money should go is into paying off more debt. Enough said!

  • Refine and polish your budget as your circumstances change. Your budget shouldn’t stay the same. As you find more ways to decrease your expenditure and become adept at sticking to your financial plan, fine-tune your budget to reflect your savvy saving. Any spare change goes directly onto your debt.

  • Automate payments of bills, so you don’t spend the money first. This saves you from late fees if you forget, too.

The reality is that you won’t have a profitable budget until you get rid of that high-interest debt. The beauty of a budget is that it can get you there! Knock the debt, stay away from borrowing except for assets like property, and you’ll have a well-oiled financial plan that kicks goals instead of paying lenders!

At Blue Ink Finance, we have a team of expert brokers as well as a panel of industry experts that understand all the nuances of positioning your personal finances to kick real goals with Property Assets and can support you in achieving your goals.

Give the team at Blue Ink Finance a call on 1300 888 796 or click here to request your Complimentary Finance Review with one of our experienced Finance Coaches now.

And see how having a panel of industry experts on your side, can fast track your property goals.

About The Author

David Wegener
Chief Executive Officer
Blue Ink Finance

Who I am, and why I want to help you succeed.

As an award-winning Mortgage Broker with nearly 20 years’ experience in the finance industry, I’ve seen it all.

I’ve gone through constant industry changes and yet I still successfully help my customers borrow the money they need to get ahead.

As a Finance Coach, my goal is to help you understand your financial potential so that you can borrow with confidence.

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Leveraging your Blue Ink Finance Broker for more than just a loan.
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With the softening market impacting property values in many parts of Australia, Sally Dale, Opteon state director for NSW, ACT and Qld joins us to discuss the importance of valuations in the current property market

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Joining host Phil Tarrant, Sally will draw on her 25 years of experience in valuation and discuss the processes involved in arriving at a value for a particular property. She will also share how that process differs between commercial and residential properties and the difficulties which regional property valuations can present.

Sally will unpack the importance and cost of regular valuations on your properties, discuss whether presentation and owner input can sway a valuation and share what you should look for when seeking a reputable property valuer.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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AREAS MENTIONED: 

Sydney
Brisbane
Adelaide

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Can property presentation result in a higher valuation?
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A softening market can be a difficult time for a property investor with finance approval tightening and property capital growth slowing, and while many real estate agents are also feeling the squeeze McGrath Brighton Le Sands' Bill Tsounias claims it is simply the market returning to normal.

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In this episode of the Smart Property Investment Show, Bill joins host Phil Tarrant to share his thoughts on the current Sydney property market, and to share the shifts that he has seen in house and unit sale prices following their worst quarter in the past decade.

Bill will unpack why properties are spending longer on market, share what he believes property investors are doing wrong when trying to sell their properties and share the secrets to getting the best out of a real estate agent and an auction in the current softening market.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

Why I still buy in Sydney
Property market update: Sydney, July 2018
Sydney rental market slowing, latest research finds

AREAS MENTIONED:

Revesby
South Hurstville
Sans Souci
Strathfield

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Top 100 ranked agent Bill Tsounias shares the secrets to getting the best deal in a softening market

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