When I was 30-years-old, I received one of the best pieces of financial advice from my neighbour. He was an astute investor who had many properties and I was just beginning my investment journey.
His advice to me was: ‘Never sell an investment property unless it becomes too hard to maintain.’
Today I am a branch principal and wealth manager of Yellow Brick Road Frankston based in suburban Melbourne.
I’ve found this advice very practical and critical for my own investment property success. I will regularly share this advice with my clients but I always say that this or any other advice they are given needs to fit their overall personal property and wealth building strategy.