Having recently reviewed my investment statergy, I have decided to de-leverage somewhat and offer two of my IP's for sale. One is in Brisbane-Wynnum West and one in Darwin-Farrar. The Brisbane one was new in 2010 and I was pretty worried about having bought at the peak-2010 and now suffering the apparent huge losses I read here. I purchased for $522k in 2010 (plus SD and legals of course). I recently advertised for a little under my purchase price-expecting to sit for 3 months or better. I was incredibly surprised to have gone to contract in less than 7 days and a sale price of $510k. This represents only a 2% loss on the sale price (obviously far more in SD, Legals and now RE commision) Whilst it is still a loss it is not the 'burn baby burn' scenario often quoted, especially from the so called peak. Also only 7 days from listing-it is tennented until Jan 2013-so I was limited to I could sell to-eg only another investor as a Owner occupier would want vacant possesion. Goes to show there is still Investor interest around?
