298-312 Pennant Hills Rd, Pennant Hills NSW

[Property Cycle]

19KM north west of Sydney's CBD, Spacious 2&3 bedroom units, all with ensuite and parking, ranging in size from 90-135sqm. Construction is now complete.

Price range $373k-$465k
Rental $350-$440 Per Week
F.I.R.B Approval -Yes
Previous 12 Month Capital Growth 18%
Body Corporate Fees $1,120 P.A
Council $480.00 P.A
Water $360 P.A

Capital Allowance
Building 31.00%
Fixtures 8.00%

Pennant Hills Station 0.3km
M2 Motorway 2.9km
Thornleigh Shopping Cntr 0.6km
Primary School 0.6km
Pennant Hills High School 1.1km
Macquarie University 5.8km
Library 0.3km
Sydney Adventist Hospital 2.3km
Thornleigh Park 1.0km
Lane Cove National Park 1.9km
Observatory Park 1.2km

Includes: Beautifully landscaped gardens, granite bench tops, Stainless steel appliances, remote access car parking, fly screens to windows, down lights to living areas, all with balconies and top quality fittings throughout

Propertycycle@bigpond.com.au

[Lotana]

PropCyc,

Why would this project be better for investors than any other multi-unit development out of many going on in Sydney? Why do you think it is a good deal for investors? Please refer to rules for this section of the forum for details.


3. Keep in mind that the reason for this forum's existence is EDUCATION, and not merely a bulletin board of properties for sale. Understand, by posting here, your post will likely be questioned by all and sundry, and you will be called upon to substantiate, in detail, why your deal is worthy of consideration as a good deal. So, when posting, tell us up front, and in detail, WHY this is a good deal (also refer Rule 6)


Also, the members generally expect to see a person contributing to the main area of the forum before the person places a Caveat Emptor deal.

I am sure there will be other replies from the administrators.

Regards,

Lotana

[Property Cycle]

Lotanna,

Pennant hills is a good location in sydney and has had good growth in the past.
but this may not be for every investor and it is up to them to find out if it suits their needs.
of course i will answer every question possible in relation to this development.
also i would like to add that the average 2br appartment in this complex is being sold for $395,000 here is a link to realestate.com.au for an appartment up the road in another complex and i beleive ours presents better http://www.realestate.com.au/cgi-bin/rsearch?a=o&ag=&s=nsw&c=26875612&tm=1045713960&id=1602732&f=0&p=10&t=res&ty=&snf=rbs&cu=&fmt=&header=


and i will be contributing to the main area in furuture. just looking for the right topic. i am a member too and i dont expect it.

[Les]

G'day PC,

Thank you for the link to the "other development" up the road.

Where does you development "fit" when comparing the other dev's features:-
e.g.
* Architecturally designed 2 bedroom apartment in small complex*
What is the size of your development? How many units? How many storeys?

* Security building with soundproof glass *
How does yours compare?

* Air-conditioning, fully tiled bathroom and ensuite*
How does yours compare?

What % of the price is "land value"? Or straight $$ terms, if you wish... Total land size?

Pennant Hills is a NOTORIOUSLY busy road, especially in peak hours - since your dev fronts this road, is there a "back entry" that would prevent major delays "getting out the gate"???

Thank you in advance for your reply,

PS re Lotana's comment, I agree with him that your credibility will grow more as you frequent, and post, to the forum (helping others where you can). But, as you say, there is no "expectation" that you must, and there are no rules that limit you presenting a deal, so long as you endeavour to present a full case. You seem to have had a fair crack at presenting a good case for your dev - and that is respected.

And, as you'd have read, our forum exists primarily for education - any sales to forum readers are ancillary, and completely their choice. Hopefully, we assist them somewhat with honing their DD skills by asking the same searching questions that they will learn to ask themselves. If you and your dev stand up to this kind of scrutiny, I'm sure you will do well, both now, and into the future.

Regards,

[suggo]

I have a question, I realise this is Caveat Emptor and anyone is free to post here and that it really is Buyer beware!! My question of everyone here is:

Are the rest of you as cautious and does alarm bells ring for you when the first post someone posts is here looking to involve people in a deal??

I am not in anyway saying it is a scam or anything of that nature, just wondering.

[see_change]

Les , If it's the block ( one of a couple in similar position )that I'm thinking of it's one of those developments that is " convenient to transport ".

ie it sits on a very busy road ( I'm often stuck in a traffic jam out the front going to work each morning ) and has the main northern sydney railway line ( not the north shore line ) going past the back fence.

If this is incorrect, please correct me property cycle.

see change

[geoffw]

Originally posted by suggo
I have a question, I realise this is Caveat Emptor and anyone is free to post here and that it really is Buyer beware!! My question of everyone here is:

Are the rest of you as cautious and does alarm bells ring for you when the first post someone posts is here looking to involve people in a deal??

I am not in anyway saying it is a scam or anything of that nature, just wondering. For me, small alarm bells... but bigger alarm bells if it is a first post advertising something in other forums; even bigger if that person does not contribute again.

[Property Cycle]

Les,

Thank you for your questions.

Total Development is 114
3 storey walk up
No Air Conditioning
sound proof glass-yes
all bathrooms are fully tiled, Granite benchtops, stainless appliances, flyscreens to windows, remote roller door etc and the whole project has an excellent fitout.
Gated entrances with secuirity
the mian vehicle acces is on the side street not on the main road, and there are 3 pedestrian access points to the development.

these are complete so if anyone would like to have a look, the address is on the posting.

i do have photos of the development, but i am having trouble attaching them, so if i can email them to someone to distribute if need be i am happy to do so.

and i would also like to clear the air, i will be posting and sharing information on this site, i am not a newbie i have been an investor for the past 15 years, i am full time sourcing development sites around the country, and from this i provide many opportunities to my own client base.

i dont like the idea that some people on this forum think they smell a scam, because they dont like the wway i have posted an opportunity or the fact that i havent become a regular or habitual poster, and i know that these are generaly people that are seminar and forum junkies that are still talking themselves out of it, but negative attitudes are contageous.

to these people i say well the address is on the posting, go and check it out before you spread your negativity.

seriously i dont care if people dont want to become involved in it, but check it out, before you use these sorts of words as you may still want to sit on the fence, but others may actually want to do something, and look at it with an open mind.

as i said i would be more than happy to share ideas, and information with anyone that is seriously interested. there is nothing more rewarding than helping people that want to help themselves!, and guess what i dont mean rewarding as in money!


:)

[Kevmeister]

Looking back through Caveat Emptor there have been a few other posters who have posted an opportunity and then clammed up when the hard questions started to get asked (was it someone selling Vending Machines).

As Les said, Property_Cycle is trying to give a lot of information here, so that already earns him some degree of respect. Obviously it would be preferable if he had demonstrated some previous involvement prior to listing his deal, but whether or not he has participated in the forum or not is not a good metric on whether his deal is a scam or not.

Caveat Emptor should not and does not take the place of your own due diligence, and that includes "smelling scams" if that's what they happen to be.

I think Les hit the nail right on the head: I enjoy reading people's questions about opportunities here (and people's questions) because it is teaching me how to think about each opportunity and how it might be assessed.

So, Property_Cycle, the one question you have not answered is:

What is the land content as a % of purchase price, or in $ terms.

What does the capital allowance %'ages mean? I first thought that meant how much of the purchase price was the building and fittings (for depn purchases), but that would leave 61% of the price (presumably land), but that seems *way* too high.

[Property Cycle]

Kevin,

missed that sorry doh!, (no scam intended)

i will chase it up for you

George

[NigelW]

Originally posted by Kevmeister
Caveat Emptor should not and does not take the place of your own due diligence, and that includes "smelling scams" if that's what they happen to be.



Hey Kev...nearly 500 posts.

Bought anything yet? Or is your due diligence stiiiiiiiiiiiiilllllllllll going? ;)

[Jamie]

Originally posted by Property Cycle

i dont like the idea that some people on this forum think they smell a scam, because they dont like the wway i have posted an opportunity or the fact that i havent become a regular or habitual poster, and i know that these are generaly people that are seminar and forum junkies that are still talking themselves out of it, but negative attitudes are contageous.

:) [/B]

So everyone who is a regular poster is a "seminar and forum junkie"?

Perhaps not the best way to ingratiate yourself with the new community you are trying to involve in your deals.

Just a thought,

Jamie.

[XBenX]

hrmmm whether to rip in or not....

nah ill leave the bait swinging, it was attractive though (i cant be bothered to waist the research time)

im glad you have _so_ much experience, thanks for offering us the opportunity to be involved with you....

im sure with _so_ much experience youve got an extensive network of clients to sell to anyway, you dont need to flog your fantastic product to us forumites anyhow... (yeah right)

[suggo]

i dont like the idea that some people on this forum think they smell a scam, because they dont like the wway i have posted an opportunity or the fact that i havent become a regular or habitual poster, and i know that these are generaly people that are seminar and forum junkies that are still talking themselves out of it, but negative attitudes are contageous

Way to make yourself popular!! :eek:

Answers like this really do make me smell a scam, a little too defensive me thinks! Which by the way I did say I was not doing in my first post, but you seem happy to have overlooked that line!

As for still talking my way out of it, your probably right, I mean I talked myself into 4 IP's and a PPOR in the last two years, so I would consider myself a procrastinator! Oh well, I'm cool :cool: with that.:p

[see_change]

I note you haven't contradicted my comment about the development being located between Pennant Hills road and the main northern sydney railway line.

While I can see from your point of view I can see this would be a negative comment , I look on it as helping people with their due diligance , when it involves an area that I know something about.

I have made numerous comments about areas that I know about over the last year or two , and the comments that other people have made about areas that they know have helped me purchase 11 IP's over the last year which are returning be a very nice profit ( cash flow and capital growth ).

This forum is about providing information and accepting the good with the bad. If you don't like it when people say something that is not in your favour , you should put your brain to work instead of your mouth . How about some info on vaccancies, or returns or cost of similar developments that arn't in a such a convenient position to transport, or maybe even what residex are predicting cap growth to be ( every one knows cap growth has been good in the last 12 months ).

seechange

[Jacque]

I'm with SC here with regards to the cap growth. Most of Sydney has benefited in the last 2-3 yrs from extraordinary growth, so it means little here.
Being a born and bred Carlingford girl, I know the area pretty well and would think that these particular units would be on that lovely busy section in between Pennant Hills station and Thompson's corner, so, from a vacancy point of view, they would be harder to rent out than a backstreet unit. Having said that, however, if soundproofing is a feature (double glazed windows?) then it wouldn't matter as much.

I don't mind people posting deals on here (as long as they're in the right section :)) as most of us like to dissect and ask questions. We're certainly not all negative, just eager to partake in healthy discussions!
We look forward to your further contributions PC. Welcome to the forum :)

[XBenX]

ohh i forgot the welcome to the forum bit :)

how rude !

:D

[Les]

G'day PC,

Thanks for taking the time to add to what you'd already presented. As you'd have seen from the Caveat Emptor rules, this forum is bounf to be "hard-hitting" when searching out the truth. I stand by my previous comment that those that present good deals in as complete a manner as possible do themselves far more good in this forum than those that "duck and weave".

So far, you have been open and up-front in presenting a full and fair picture of your deal. Re the following quote of yours:-

i dont like the idea that some people on this forum think they smell a scam, because they dont like the wway i have posted an opportunity or the fact that i havent become a regular or habitual poster, and i know that these are generaly people that are seminar and forum junkies that are still talking themselves out of it, but negative attitudes are contageous.

..... I would say that this forum has had its fair share of "doubtful deals" presented, so the readers tend to be somewhat reticent about taking deals at face value. Also, as mentioned, this is an educational forum - the accent is toward "due diligence" in all its forms. And I'd like to re-iterate that, if you can take the heat, your stoicism could be well rewarded.

Keep in mind that, until last week, we had NEVER HEARD of someone called "Property Cycle" - so a little bit of scepticism is probably not too un-natural, wouldn't you agree?

Your initial post was detailed, your first reply was also good - keep your cool as we "suss you out" and you could do alright here. This IS a forum of property investors (some new, some with a few runs on the board, and some that could - maybe? - buy and sell you) so don't expect the same naivete that the Saturday papers produce for you. But that doesn't mean that "no-one here is a buyer". It's up to you - sell us with your reasoned responses, your willingness to "stand the heat" - and good luck.

What was the land %age in this deal, PC? Or $ value?

Regards,

[suggo]

I want to change my last response to what Les just posted. Well said good Sir!:)

[brains]

Is this caveat emptor or the Spanish Inquisition, man talk about paranoia.

While i disagree with the way PC posted a purely commercial post without runs on the board re forum posts, i disagree with the attack on his integrity.

If people think its a scam then due diligence far beyond flinging questions on a forum is required. How can it be a scam? And how can anyone on this forum be taken by a scam, with the *experience * here?

Im sure no one on this forum is intending on buying these units
(and SeeChange is right, they are between a major busy road and a railway line) then why attack the guy.

If he doesnt post again its not because he was flogging a scam its because he probably cant deal with the petty accusations and attack on this forum.

Im not sure if the Somers intended originally for this forum to be a cliquey little group, where if you dont play by the prescribed rules you are attacked big time (like myself) but it sure has turned out to be, and thats a shame.

Sometimes people get their latin confused and mistake caveat emptor for ganging up on someone and openly attacking their integrity in a hostle manner on the suspicion of a supposed scam.
Buy a life guys.

[XBenX]

Originally posted by Property Cycle
and i know that these are generaly people that are seminar and forum junkies that are still talking themselves out of it, but negative attitudes are contageous.


when you post something like this surely you have to expect whats coming and duck for cover ?

oh well i spose its true that negativity breeds negativity.

[Tony]

Hiya,
Actually i agree with Brains totally (a little scarey i know :D ), i don't think posters on Caveat Emptor should be ripped to shreds. Personally i think that the only people who sell stuff via this forum are people with a proven background & who have respect from other formites. It's a much easier to sell stuff to general public, than via this forum where generally people have a greater understanding of the property market. For me the best purchasers are those who are emotional about the property i'm trying to sell & not seasoned investors who look at the numbers.
I would prefer to see more deals on CE & maybe if we weren't as harsh (still carry out analysis though) we might get more stuff posted in the CE section (must admit this is one of my discussion areas & would love to see more deals in this area).

Just my opinion for what it's worth & i would hate to see this forum being a place where people are afraid to post stuff for fear of being overly criticised.

Regards Tony.

PS. Brains no disrepect to u, just couldn't resist the jibe.

[brains]

Originally posted by XBenX
when you post something like this surely you have to expect whats coming and duck for cover ?

oh well i spose its true that negativity breeds negativity.


Ben,

Would you agree that it would only push the right buttons if it were the truth?

[Sim]

Hmm... I hadn't been following this thread. I'm sorry I looked at it now.

XBenX - pull your head in. Now.

There have been way too many posts in this thread which have attacked the original poster unnecessarily.

Sure, analyse, dissect, discuss the deal - that's what we are here for - but this is not an excuse for flaming posters. If you really think something is spam and should be removed, PM or email the moderators or administrators and they will deal with it.

Some of you have been acting like schoolyard bullies looking for any excuse to put the boot in. The only critisism we need here is "constructive" critisism.

Brains is right - this is not intended to be a "cliquey little group".

I overheard a conversation between two old and wise beings (note that the BEN in the conversation is NOT XBenX):

YODA: (irritated) I cannot teach him. The boy has no patience.

BEN'S VOICE: He will learn patience.

YODA: Hmmm. Much anger in him...

...

BEN: Luke, don't give in to hate -- that leads to the dark side.

I hope we can learn something from our elders.

Les (another wise being) has gone to a lot of trouble with the posting guidelines - I suggest everyone reads them again. These guidelines cover not only deals posted here, but also responses to posts in this forum and as such everyone should take heed.

http://www.somersoft.com/forums/showthread.php?postid=399#post399

[Les]

People,

I have PM'ed a couple of people offline in an attempt to prevent this thread from becoming less than it should be.

Please, keep to "the deal" in posting replies. PC has put up an offer - ask away about the deal - but, please, DO stick to questions about the deal.

'Nuff said,

Regards,

Les,
Caveat Emptor Moderator

[XBenX]

Originally posted by XBenX
nah ill leave the bait swinging, it was attractive though (i cant be bothered to waist the research time)



hrmmm can anyone explain how I could "waist" the research time :P

maybe that should have been waste

[Sim]

Originally posted by XBenX
hrmmm can anyone explain how I could "waist" the research time :P

Well... there was a lot of time I spent in uni at the cafeteria (mostly playing cards) which should have been spent in the library. The consumption that tends to happen in cafeteria environments certainly had an effect on my waist - so I can see how it could be said I was waisting my research time !

[XBenX]

hehe thanks sim - i was hoping someone could explain to me what I meant :)

[geoffw]

Originally posted by Sim
so I can see how it could be said I was waisting my research time ! Another example of the horrible practice of verbising nouns!

[Sim]

Actually geoffw, it's called "verbing nouns", which of course is what I just did with the noun "verb" !

[geoffw]

Maybe verberating?

[XBenX]

us youngn's skipped grammar in school, i dont even know what a noun or a verb is :P

the only way i know ive made a mistake is the little green line :P

[Lotana]

That would be a good topic for the Coffee Lounge.
Knowing grammar makes you enjoying the language to a fuller extent. It's like in anything else - the more you know about things (wine, ballet, cars, music, property investment) the more you enjoy them. Not that my grammar is perfect (at least the English one).

Cheers,

Lotana