Is that the ever present Dazzling in the latest issue of API?
Just read the article, impressive figures there Dazzling.
Just read the article, impressive figures there Dazzling.
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Dazzling in Aug issue of API?
- Thread starter PrimeCommercial
- Start date
Yes, nice numbers. I saw that one last week in the current API, just before Dazz's post about X-colling. Didn't think timing was right to comment on that day.
Well done mate.
If you're happy to share, I have a question. With the Welshpool and Osborne Park (3 factory prop) did the value grow so much due to being VP at purchase or re-negotiation of leases with valuations on (obviously) increased rents? The whole portfolio is impressive to say the least, but the growth in those two is stratospheric.
Congratulations to you and your wife.
Well done mate.
If you're happy to share, I have a question. With the Welshpool and Osborne Park (3 factory prop) did the value grow so much due to being VP at purchase or re-negotiation of leases with valuations on (obviously) increased rents? The whole portfolio is impressive to say the least, but the growth in those two is stratospheric.
Congratulations to you and your wife.
...thank you for the feedback....I am humbled.
Michael - in answer to your specific question.....we purchased both of those off distressed Vendors, which were both in disgusting condition with absolute grots in there for tenants. Rubbish everywhere (collectively 100's of tonnes), foul mouthed layabouts who refused to pay us rent or even recognise us as the new Landlords. All they had going for them was a big land component in a great position.
They have now all been cleaned up, the dregs have been forcibly removed, they all now have great tenants installed who are proper business men making good money, all signed up on proper commercial terms. They were all disrespected basket cases when we bought them after years of wanton neglect. They aren't anymore.
You cannot turn these things around by being Mr Nice guy.
Michael - in answer to your specific question.....we purchased both of those off distressed Vendors, which were both in disgusting condition with absolute grots in there for tenants. Rubbish everywhere (collectively 100's of tonnes), foul mouthed layabouts who refused to pay us rent or even recognise us as the new Landlords. All they had going for them was a big land component in a great position.
They have now all been cleaned up, the dregs have been forcibly removed, they all now have great tenants installed who are proper business men making good money, all signed up on proper commercial terms. They were all disrespected basket cases when we bought them after years of wanton neglect. They aren't anymore.
You cannot turn these things around by being Mr Nice guy.
Very impressive figures. Bet not enough to leave the job and relex 
Hi there Daz,
Well done......
and you don't look as bad as you sound.......
Regards Jo
You want to see him with the mutton chops
Congratulations Dazz, Awesome achievements and an interesting read
Thanks for sharing Dazz.
Valuable le$$on for us on how to profit from commercial/industrial properties with correctable problems:
Property with curable flaws (and terminal tenants)+ elbow grea$e = $$$
What a way to catapult your equity and push portfolio LVR to the down side. I can imagine the bank(s) reaction if you hadn't added such value to the grotty properties and replaced the vermin there with viable businesses.
Again well done.
I guess i'm not that much different to the spendaholics that spend every weekend at chadstone.
I spend most of my money on investment, in the hope that one day i'll be rich and famous like Dazz, where the kids at chadstone spend most of their money on accessories, and hope that one day they will be rich and famous like the those on mtv and the movies.
I spend most of my money on investment, in the hope that one day i'll be rich and famous like Dazz, where the kids at chadstone spend most of their money on accessories, and hope that one day they will be rich and famous like the those on mtv and the movies.
Or, as I've read elsewhere: Problem + Solution = Profit
I look at property development in this regard too. The problem being under-utilized site and the solution being to fix this appropriately via development. Strategy done well = profit.
Dazz is a great example of how one man's problem is another man's opportunity. But not all men are created equal. Dazz's success is largely due to his unique hard headedness and ability to see the potential where others couldn't. No "pure luck" story there, all grit and determination.
Well done mate! Great outcome!!
Cheers,
Michael
Just had a glance through API and have to concur, they are indeed impressive figures. The property numbers aren't too bad either
.Well done Dazz, you're someone to aspire to.
Regards
Marty
