Another One Bites the Dust

[skater]

http://www.realestate.com.au/property-unit-nsw-kingswood-119066775

Bought this one in 2010. It was a spur of the moment purchase as it was going heaps cheaper than anything comparable. It didn't fit into what we'd normally buy, but couldn't resist at the price.

The previous owner was an investor who looked after their tenant, not giving them a rental increase in a long, long time. As a result, they couldn't sell it for the money they wanted, and as there was little interest, they were VERY negotiable.

It was always going to be sold once prices grew, and so we had our Property Launch last week, & it's now sold. Yay!

 

[Biz]

http://house.ksou.cn/p.php?q=Kingswood&sta=nsw&id=1436284

 

[see_change]

300 k + for a two bed der in kings wood

Skater , what are we up to for the standard 3 bedder ex houso in Mt Druitt now .

Cliff

 

[skater]

300 k + for a two bed der in kings wood

Skater , what are we up to for the standard 3 bedder ex houso in Mt Druitt now .

Cliff

It's good, isn't it?

I haven't looked in the last few months, so it could have changed by now. The last time I went actively looking was just before we sold our one in Lethbridge Park, which went for $418k. Standing room only in most opens.

We've just given notice to tenants in Tregear, so we can give that one a spruce up before we sell it, but of course, that's a couple of months away before we get access, so pointless me checking out the activity until then.

In St Clair, last week, there was well in excess of 30 parties through. We've got a house going a couple of houses up from us tomorrow, so planning on having a look there.

 

[neK]

Skater are you selling off properties and then buying new ones? If so what's the strategy behind that?

 

[skater]

Selling some Western Sydney stuff that has had a good run. It's stuff that was never going to stay in the portfolio. Like I said with this one, it was a spur of the moment decision based solely on price, and as soon as it had reached what we were wanting from it, it was sold off.

There's a house in Tregear that will be going, and another one in Ambarvale. Not sure if we will get rid of some more, but that is it for the moment. We've got another unit in Campbelltown that was bought at a similar time as the Kingswood one, and we're tossing up if that will go or not.

 

[WattleIdo]

Once again, well done skater!

 

[ZachAnSel]

Congrats Skater.. Well done

 

[Rolf Latham]

Skater are you selling off properties and then buying new ones? If so what's the strategy behind that?

Many peops clean up/ rebalance their portfolio when transitioning to retirement, or moving to higher or lower paid work or moving to their own business.

The never sell dogma is sort of ok during straight acquisition, but ignores some life fundamentals

ta
rolf

 

[Jamie M]

Well done skater - awesome result!

Cheers

Jamie

 

[skater]

Thankyou, although I won't count my chickens until the contract is unconditional.

 

[coastal]

Nice one Skater...property doubles in 5 years

 

[The Dark Knight]

Congrats Skater I've got a one bedder in the unit next door bathroom updated a few years back original kitchen but any idea what that would go for? Last valuation from bank came in at $235,000 but that was a while ago

 

[coastal]

Skater did you have any issues with renting being so close to the train lines?

 

[skater]

Congrats Skater I've got a one bedder in the unit next door bathroom updated a few years back original kitchen but any idea what that would go for? Last valuation from bank came in at $235,000 but that was a while ago

One sold in the block next door two weeks before ours did. It was much smaller, and a two bedder. It went for $280k.

BTW, mine was original kitchen & bathroom. Bathroom was painted with the tile & bath paint & I was really impressed by how nice it came up. Not so keen on the finish of the kitchen, but still much, much better than it was.

 

[skater]

Skater did you have any issues with renting being so close to the train lines?

LOL! No, not an issue at all. Never empty!

 

[The Dark Knight]

Skater did you have any issues with renting being so close to the train lines?

Never had a problem with mine either. I think the bogans in the complex drown out the train noise

 

[skater]

To be honest, you don't hear the trains. It's a non-issue!

 

[Michael_X]

Well done Skater - amazing results!

Hopefully can do the same in a few years

 

[Catalyst]

BTW, mine was original kitchen & bathroom. Bathroom was painted with the tile & bath paint & I was really impressed by how nice it came up. Not so keen on the finish of the kitchen, but still much, much better than it was.

Congrats Skater

The bathroom looks very decent. Did you paint tiles, bath tub and sink? DIY?