So, let’s say you bought a property 10 years ago as a holiday home, or maybe it was your old home and you moved somewhere else for work and hung onto it as an investment property (this happens quite a bit with Defence personnel, amongst others). Someone has been paying the rent for you and it’s poking along and looking after itself, and that’s great.

But now, you’ve come across some different opportunities, and your wealth is tied up in a property that has grown in value, and is just sitting there.

Ask yourself the question – has this property served its purpose? If it is holding you back from other opportunities and there’s equity locked up there that you could use on another project – it just may have served its purpose already, and maybe selling it would be a good idea.

I did this once – our family home had doubled in value, and we’d moved somewhere else for lifestyle, but we kept our old house as an ‘insurance policy’ for a few years (you know, just in case we wanted to move back to the ‘big smoke’). It was great for the 10 years we owned it – but the time came when it HAD served its purpose, so we sold it, bought another investment property in a better location, and threw some money into some other ventures as well.

It’s a plan that might work for you as well.