Time to sell?

[photon]

Originally Posted by Draug

But, beyond 5 years, a person is really just guessing. Anything can happen....

What are you meaning by Exit Strategy?

When things continue to go up but aren't supported by the economics anymore (ie it becomes what I think of as speculation), I'll probably want to get out of most of my properties and move on to investing in a different area that has good economics (either in Canada or maybe by then investing elsewhere in the world will be realistic).

That's a big thing in itself because of course selling it all in one year would mean huge taxes.. but some of the people that I know that have been through a few cycles before (in Ontario and BC) have some things they said has worked for them to help with that, I haven't looked much into it yet though.

Some properties I'll probably sell (one of the reasons I don't like houses with illegal suites, easy to buy and rent, harder to sell as a rental property if the market isn't as good where a duplex you can split title and sell seperately if you want, or condo convert a 4plex or whatever), others maybe I'll keep and pay off the mortgages for the monthly income.

[Sylvanfan]

Originally Posted by suegate

Uhhh...8% is 8%. It's a smaller loss for 300k because 300k is less than 450k, but when you're talking percentages, it's exactly the same. That's the reason people use percentages to compare things...

Ummm.....I said TOTAL Dollars in the post that you quoted....

8% of 300k is a 24 k loss. 8% of 450k is a loss of 36k loss. So to upgrade from what used to be a 300k house to a 450 k house still would be 138 k difference if both properties decline by the same % as opposed to the 150k it used to be. Although often in real estate the entry level property's tend to hold their value better as they can be marketed to more buyers. But I can't say for sure if thats the case in Calgary right now. Just because the entire market is down 8% doesn't mean every sub group of property's is down 8%...Some might have held steady and others might be down 20% type of thing.