2009 was a good year..where to now?

My Sydney IP portfolio chugged away nicely all year with some rental increases and good capital growth thrown in for good measure. This was the year I achieved the $2MM net equity milestone.

I also exceeded my annual savings goal of 100K which I drip fed monthly into my managed fund which has grown as well.

I also continued to work out but unfortunately took up smoking..

no perfection here..:(

This is all very impressive Oscar.
well done
just chugging away in an GFC is what many aspire to do.
Heavens knows what a good year will do for you portfolio. Enjoy it.
Now , the smoking thing. How old are you? l didnt think anyone would be game enough to take this up these days its as bad as being a leppa
I quess you had to find something to do sitting back there in the recliner counting:D
cheer
yadreamin
 
This is all very impressive Oscar.

Now , the smoking thing. How old are you? l didnt think anyone would be game enough to take this up these days its as bad as being a leppa
I quess you had to find something to do sitting back there in the recliner counting:D
cheer
yadreamin

I'm actually just puffing away on my "drum rolly" right now. I've taken it up at age 44 and I really enjoy it. I have the power to give it up.....:eek:
 
LOL @ Piston for his inconspicious digs towards me every day.


One should only refer to a NMD deal when it really is no money into the property.

I would consider a NMD deal to be Vendor financing with a large chunk payable in a much later date, however it is still money down just at a later stage, only legal way of this is where you buy an extremely positive cf+ to pay off the principal back to the vendor.

Recent purchase at an undisclosed location.

10 x unit / villas

Ask price $550k

PURCHASE PRICE $400k

Rent $100 x 10 = $1000pw

(rents raised now to $120pw) therefore $1200pw.

Vendor finance of 30% for 10 years @ 5% interest.

$280k payable now $120k payable in 10 years

Rent = $62,400pa
Interest = $22400pa 280k @ 8% interest
Management fees $4800pa
Insurance $2000pa
Rates $2000pa
= $31200pa cf+

$31200 x 10 years = $312,000

120000 * 5% = $6000 vendor interest pa or $30000 over 10 years + principal repaid of $120000 = net return of $162,000 for this period. no money down.

Also this isnt taking into consideration we can sell the property tomorrow on a 10% yeild of $624,000 and walk away with $224,000 gross profit.

Just out of interest. I saw a block just yesterday in a local window. 10% yeild and the numbers look similar. Block of 10 with $62k pa rents. It's located in a Regional that we both have bought into.

Is it this one you speak about, and you are now selling it?
 
Thanks Forumite.
I also like the Central coast houses up to 300K and Newcastle houses up to 300k.
Seems to be a nice corridor up that coast.
Been planning a hunting expedition for a while now.
May have to pack the esky and spend a Sunday up there.
 
Nathan that deal looks very good , you seem to be having great deals fall into your lap these days but l know you put in the hard yards. Its not all luck.
Cheers to you.

Do you have your business up and running ?
When is your web page going to be up and running ?

cheers
yadreamin
 
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