- Joined
- Aug 29, 2007
- Messages
- 8
Hi Everyone,
I`d really appreciate some advice on a number of land properties that I purchased a few years ago. They are well located in areas such as Barrie, Wasaga Beach and Collingwood, and each have between 2-5 acres and 3-5 rental units so they do generate a reasonable amount of income (but are still negative cash flow). I would guess that they all have development potential.
My strategy more recently has been to target high cash flow properties, and I`m considering to sell these land properties and use the proceeds to finance my new acquisitions. However, I`m a little reluctant to do so because of the fear that I`d be losing out on more lucrative profits down the road if I sell too early.
My question for you is how do you decide when is the best time to sell? Should I be waiting for a developer to come along and buy me out? Should I do any planning or zoning work before selling to maximize value? I`ve heard the expression "don`t wait to buy land; buy land and wait", but do land prices really appreciate substantially over time?
It would be great to get your opionions and learn from your experiences in order to make my decision a little easier.
Thank you in advance for your time and insight.
I`d really appreciate some advice on a number of land properties that I purchased a few years ago. They are well located in areas such as Barrie, Wasaga Beach and Collingwood, and each have between 2-5 acres and 3-5 rental units so they do generate a reasonable amount of income (but are still negative cash flow). I would guess that they all have development potential.
My strategy more recently has been to target high cash flow properties, and I`m considering to sell these land properties and use the proceeds to finance my new acquisitions. However, I`m a little reluctant to do so because of the fear that I`d be losing out on more lucrative profits down the road if I sell too early.
My question for you is how do you decide when is the best time to sell? Should I be waiting for a developer to come along and buy me out? Should I do any planning or zoning work before selling to maximize value? I`ve heard the expression "don`t wait to buy land; buy land and wait", but do land prices really appreciate substantially over time?
It would be great to get your opionions and learn from your experiences in order to make my decision a little easier.
Thank you in advance for your time and insight.