ASK58: Never sell a property?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 4 October 2016

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on Ask Rob & Rob, Mike... Asks Rob & Rob – Should I never sell a property? Rob D admits this is something you hear a LOT from everyone, including from The Robs. However he also says that his thinking has changed a little in recent year. If your property price is increasing a lot faster than the rent and your yield has fallen, you could take the view that you have had the majority of your gains and you could sell now and buy a property elsewhere where there's more growth in it. There's no right answer, and there is a logic in both approaches. Rob B says his attitude has changed too but only slightly - and that still feels that never selling is a decent principle. There's a time and place to take stock and maybe move some units on though - for example if you have a dud property that just hasn't performed as you expected, or was one of your earlier purchases and you made some mistakes on it, or you have had a constant string of bad tenants that have cost you a lot of time and money; then you should be prepared to walk away and move on to something else. Rob B continues by saying that as he believes in the 18 year property cycle, he will be inclined to move properties on when we're at the top of that cycle (which we are a fair way away from just now). So it's not quite a 'never sell a property' answer, and there is definitely a bit more to it than this, depending on your situation, your longterm plan, and where we are in the cycle. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hi, I'm Rob, and I'm Rob.
0:03.0	And this is Ask Rob and Rob.
0:07.0	Yeah, welcome back to another episode of Ask Rob and Rob, the show where you ask a question and we give you an answer.
0:17.0	Mike is this week's questioner, who is questioning a common bit of received property wisdom? So we'll see what that is in a moment
0:24.9	but first if you've got a burning question of your own Rob how does someone send it our way?
0:30.1	Well very simple they can go on the old internet and go to the Property Hub.
0:35.0	Dotnet forward slash podcast, leave a recording there, very simple, or leave us a voicemail.
0:41.0	We've got an answer answer phone for you. Call
0:43.3	013 808,00035. That's 013 808,000.35. Don't worry, you can pause and go
0:52.4	backwards on podcast if you didn't write that down either way get in touch
0:55.6	Ask us a question. That's exactly what Mike has done and now we're going to answer it
1:00.0	Hi Robin Rob. It's Mike here. Awesome podcast. Thank you so much for doing it.
1:06.0	I would like just to ask a question about your advice.
1:09.0	Often you say don't ever sell a property, don't sell a a property just keep buying more kind of thing.
1:14.8	Now what if you're in the situation where some properties that you own have increasing
1:19.8	value a lot thereby decreasing the yield on them if you are
1:23.4	a lot there by decreasing the yield on them if you are renting them.
1:24.5	Should you not surely then sell the property to then buy elsewhere
1:29.4	to move into areas of future growth?
1:32.2	This is something I'm pondering over at the moment. I don't love any
1:36.1	thoughts you had on that. Thank you so much.
1:39.4	So it is a really good question from Mike. Neversell a property is one of those things you hear a lot
	...

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