$400,000 profit hidden in $337,000 purchase
- Thread starter Humphrey
- Start date
You cannot buy a property close to the CBD for such money. Therefore, it could be an agent mistake at marketing the property at the wrong price and not waiting for all offers before sealing the deal. The other explanation is that the property could have been purchased a while back in a good suburb and the recent growth combined with minor improvements or even obtaining a DA to maximise the potential of the land will see them make good profits.
I am constantly looking for such deals for our clients and they have done exceptionally well as a result of the recent price rises. Most of our clients will double the expected margins from this time last year.
While it is good to be able to give yourself a pat on your back for a job well done and tell everyone of how much profit you have made the real challenge is how do you do it again in the current market.
By attending the seminar you will get to hear about how it was done and you will learn some tips on what to look for when property hunting however, it probably is a one off result that will be hard to duplicate.
Real wealth is created by repeating a strategy that works consistently and is easily duplicated.
I am constantly looking for such deals for our clients and they have done exceptionally well as a result of the recent price rises. Most of our clients will double the expected margins from this time last year.
While it is good to be able to give yourself a pat on your back for a job well done and tell everyone of how much profit you have made the real challenge is how do you do it again in the current market.
By attending the seminar you will get to hear about how it was done and you will learn some tips on what to look for when property hunting however, it probably is a one off result that will be hard to duplicate.
Real wealth is created by repeating a strategy that works consistently and is easily duplicated.
Oh, haven't you guys figured it out. Its easy. 1,000 people pay $400 each to attend seminar. Theres your $400,000 profit right there
Interesting answer.
Perhaps I cut out that the ad was for the "On the buses" seminar (I didn't want my post to turn into a full ad for them) which I think from memory was for 40 people x $998 so that would give return only about $40k rather than the $400k mentioned.
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A treasure chest with $400,000 worth of Gold burried under the house?
Metal detector?
I can see where you are coming from...
Perhaps he used a metal detector
Just not sure how this would relate to the town planner, unless they are selling them as a side-business?
I wonder how the a REA would feel if you walked around with a metal detector as part of your inspection?
I can see where you are coming from...
Perhaps he used a metal detector
Just not sure how this would relate to the town planner, unless they are selling them as a side-business?
I wonder how the a REA would feel if you walked around with a metal detector as part of your inspection?
LOL...
sounds like a fun thing to do on a Sunday afternoon for a laugh!!
Anyone want to do it and secretly film the REA's reaction?
I would pay money to see that!
Boods
LOL...
sounds like a fun thing to do on a Sunday afternoon for a laugh!!
Anyone want to do it and secretly film the REA's reaction?
I would pay money to see that!
Boods
I can see two versions:
The one where you pretend to find something with the metal detector and then immediately sprint off the property as fast as you can.
The one where you pretend to find something with the metal detector and then immediately run to the REA and make an offer 20% above asking.
EC
I had a quick think about this and came up with the following...
Sounds like the seller really wants to get out of there.
Possibly the purchase price is just above the land content value because they think it's a write off and the land can not be re-developed.
My best guess is there is going to be an inner city bypass go right through this property. He will sit on it and hold out till he gets top dollar. During the year or so waiting he rented it out. Properties in the area showed a large capital gain which bumped up the value further. Finally he held out till he was the last person to get paid and demanded top dollar which he got.
-DU
Sounds like the seller really wants to get out of there.
Possibly the purchase price is just above the land content value because they think it's a write off and the land can not be re-developed.
My best guess is there is going to be an inner city bypass go right through this property. He will sit on it and hold out till he gets top dollar. During the year or so waiting he rented it out. Properties in the area showed a large capital gain which bumped up the value further. Finally he held out till he was the last person to get paid and demanded top dollar which he got.
-DU
Im not sure whether people have any choice as to what money they are offered for government subsidised roads.
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