Time to sell?
I have 10 investment properties in London which I started purchasing in 2008. I cannot decide whether I should start selling some as the value has increased very much in the last 18 months. For example, I purchased a 3 bed terraced house in N17 for £230k and have rented it since for £18,460 per annum which is about an 8% yield. I had It valued last month for remortgage purpose at £350k.
I spoke to a local agent who told he can sell it for £380k in a week!
At this value the yield is not even 5% so I am thinking maybe its time to sell and invest in better yielding properties.
What do you think?
C Dam
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Universal Credit - First Experiences?
Member Since January 2011 - Comments: 12196 - Articles: 1396
10:46 AM, 7th October 2014, About 12 years ago
Reply to the comment left by “Joe Bloggs” at “07/10/2014 – 10:31“:
Agreed – but Compulsory Purchase Orders are not relevant to any of the scenarios being discussed in this thread.
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Member Since June 2013 - Comments: 646 - Articles: 1
10:51 AM, 7th October 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “07/10/2014 – 10:46“:
it was a point of correction on your post.
Member Since July 2013 - Comments: 303
11:03 AM, 7th October 2014, About 12 years ago
What is a CPO properties ?
Member Since January 2011 - Comments: 12196 - Articles: 1396
11:05 AM, 7th October 2014, About 12 years ago
CPO = Compulsory Purchase Order – see >>> http://en.wikipedia.org/wiki/Compulsory_purchase_order
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Member Since June 2013 - Comments: 646 - Articles: 1
11:05 AM, 7th October 2014, About 12 years ago
Reply to the comment left by “shakeel ahmad” at “07/10/2014 – 11:03“:
Compulsory Purchase Orders
Member Since July 2013 - Comments: 303
11:29 AM, 7th October 2014, About 12 years ago
Thanks.
Member Since July 2013 - Comments: 186 - Articles: 2
11:29 PM, 7th October 2014, About 12 years ago
Yes Mark you are right, i was wrong. This is what my Acc said:
Rollover relief is only available for business assets, i.e. if a ‘qualifying asset’ is
sold and the proceeds reinvested in another qualifying asset.
Qualifying assets include land and buildings, plant and machinery and
goodwill. The old asset must have been used throughout the period of
ownership in the individual’s trade or in his personal company and the
new asset must be used in the trade. Therefore the sale of a buy-
to-let property would not qualify for rollover relief (although a
furnished holiday letting would qualify).