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Ahhh I love how property is nice and slow. I now have about three months to do a revalue :D

Thanks. Personally I didn't expect the growth I had, I thought I just missed the mini boom or whatever it is we're going through now. I noticed your price index post, 9% in December is amazing! The agents told me he is trying a private sale for a while and then taking it to auction mid...

Turns out I didn't even have to wait 12 months :cool: This is the basement apartment. Mine is the same floor plan, on the top floor (3 floors above this one) and I have city views and a balcony...

How long was it between purchase and re-value? Was the lender happy to do this so quickly or did you need to justify it?

http://data1.reiv.com.au/trendchart/ Enjoy!

This was my findings as well: Inner burbs = low volatility, consistent growth Outer burbs = high volatility, more flats and booms Overall growth was about the same, even before you add in the higher yield of the outer burbs. Depends on where you are at with your investing and the state...

On the plus side by purchasing this type of property second hand you’ve not only avoided the developer margin but you’ll be able to have the benefits of a newish property. In addition, it would be an interesting exercise to separate the land / building / ‘wow’ / developer profit components...

495k -> 575k from Jan 2004 -> Jan 2007 is just over 5% CG pa. During that average period (you would have bought pretty close to the peak) I would say you could have done far worse!! I would agree with GoAnna, the initial sale price would have had at a bare minimum 10-15% ‘developer margin’ in...

I was quite busy at that time in my life (broke up with my girlfriend). The Wakelins and their solicitors did the due diligence for me on the BC situation and said nothing was unusual and that it all seemed fine. In my view it's a minor thing in the scheme of things (although you are spot on...

I forgot to mention I won't be paying any cash. I'll be using debt.

Yes, that's post tax. I pay a large amount of tax. You're all welcome. I hope my little explanation of what I've been up to and what went through my head will benefit you in the future. I 'look forward to looking back'. Yeah, that could be right. Ah well, there you go! Thank you for...

Excellent question! Pity I can't remember... I think it was low 5's. I just accepted the underquoting as part of the game, and that's another reason why I had the BA's as I didn't want to be like the many others going into auctions with completely unrealistic price expectations. I later...

Those figures seems pretty accurate. I came to around $15k pa negative cashflow after I added in other expenses like rates and that. It'll be a PPOR so for $350pw (I have a housemate who'll be paying some rent too) I'll be living in Toorak and enjoying the CG on a prime ~$600k property. I...

Overall, for me, they were satisfactory. I have very high standards. I've had other friends who have had amazing experiences with them. Spot on. This question is very hard to answer. You never really know which way an auction can go and how their experience can assist you. Unfortunately...

Hey, I wonder if I should complain to someone about this blatant overquoting? I don't really know what to expect back, but I should still do it. I know they say 'anything can happen at an auction' but 55% is ridiculous.

I forgot to mention I used the Residex individual property report and it put it at 594 - 599k. I thought it was way off at the time but it was pretty darn close! I can't imagine how those things would do such a 'skewy' area like Toorak accurately but it sure did this time. The APM one was...

It was massively under quoted. It's not an asking price either, it's just a bullsh*t quote lie to lure in buyers. It's just like stuff for sale on eBay, it's not really $1, look at the 'completed sales' in the advanced search to see what they actually sell for. There were two there who were...

It will be a PPOR for a while, but it will be an investment for the majority of the time I own it (which will be forever). No, unfortunately it's about 1.2kms to the train station (there is another one nearby but I think it's at most 100m closer). Not really walking distance. Unsure about...

Yeah, definitely crazy. Like my example of a 55% increase, 380k+ to 592k.

I found it myself but I still used the services of the Wakelins to evaluate the property and assist in it's purchase (i.e. bidding at auction).