We Sell To Take Profit And Multiply Our Wealth

We Sell To Take Profit And Multiply Our Wealth

by Jeremy | Jan 25, 2017

Many people are good at identifying properties to buy but they are not willing to sell. They either grow attached or are contented with the rent they are getting. Others hold on to their properties because they think the prices will go up further.

Selling is not about letting go at the highest price, if we hold on to this mentality, we will always be waiting for the next highest price! Focus on knowing when it is most beneficial and advantageous for you to sell is key. Think about it.

David has a unit he bought at below market price – $350,000. 5 years later, someone offered to buy his unit at $700,000. At the same time,there is another unit going for $500,000. If you were David, would you sell the $350,000 unit and buy the $500,000 one? Or would you wait for the price to go up further?

Are You One of Them?

Common scenarios that hinder growth

#1  Zero Wealth Multiplication i.e. asset rich cash poor

#2 Wealth Stagnation i.e. multi property owners

#3 Untapped Wealth i.e. HDB owners

What is the Right Price to Sell?

Some do not know when to sell. Determining an exit point is important to knowing when to sell. Right selling price takes into consideration different factors. It is never about the quantum($) alone. Ask yourselves

1)Has the asking price crossed the last peak or transacted prices?

2)What would my cash flow be like if I cashed out now?

3)Is there something out there with better potential upside than what I am currently holding on to?

4)Is there a possibility of multiplying my cashed-out money into 2 or more properties?