anyone bought a bargain yet?

S

seank

Has anyone bought at a good price lately?
Wouldn't mind knowing -
1. Area
2. Yield
3. Discount in price VS prices 6 months ago
I now there has been talk lately of prices dropping , however it has been minimal in my area (brisbane sth)
Prices and yields just aren't attractive enough for me to "jump in" yet, unless someone knows of any other "bargain" suburbs?
 
Not sure if it's a bargain. I'll tell ya in a few years.

I bought some Macquarie Leisure MLE shares yesterday for $1.575. That's a yield of 14% next year. NTA of $1.80. Lots of land as assets, including Coomera, and bowling centres and marinas.

I'm punting that MLE has been oversold. All property trusts have been hammered, and some deservidly. MLE's major asset is Dreamworld.

The last time I bought MLE was 6 years ago for 64c when they also had a 14% yield. I still hold those shares, and I'm now getting 30% yield from them. I have gotten my initial invested capital back in dividends already, plus some. I also get half price admission tickets, that I like using.



Anyone who takes free advice about shares from a farmer on a property forum deserves to lose all their money. MLE is probably being hammered for a very logical reason that idiots like me don't know about.

See ya's.
 
Todays bargain is tomorrows market. It's way too early, this bubble's still got too much air in it.
Like topcropper I've been buying LPTs, some good value in there.
 
Caledon Resources at 66 pence each (listed on AIM). They are now on 150 pence only 3 months later. I reckon they have a fair bit left in them too by the time Polo Resources gets around to taking over Caledon.

Im also eyeing Babcock and Brown Power - its been oversold in my opinion.

On the property front no - REAs keep calling me nasty names because they are still in denial and dont like my offers.
 
boomtown said:
On the property front no - REAs keep calling me nasty names because they are still in denial and dont like my offers.
Click to expand...


Nasty names ehh! Don't the REA's realise they shouldn't burn their bridges. Never mind they might come running with politeness soon as stock goes stale and they are approaching the end of their exclusivity of their marketing contract with the vendor. It will be the vendors they will be getting nasty with during their rush to condition them to accept low-ball offers.


Personally, bought some land two weeks ago (800m from the CBD of a large provincial city population circa 100,000) for less than the price of my last car, which is now eight years old. It's marque is not European either.

For those interested I'll be happy to share details once it's settled in three or four weeks time. There are deals out there folks.....the price we pay for the "bargains" is our time investment to seek and do our due diligence.
 
The bargains seem to keep eluding me. :(

I keep looking at properties that I think the vendor would be negotiable on, but then when I turn up, there's usually a good reason that it's "cheap"

I then see in Saturday auction results, for a house I didn't go to, because I thought it'd go for too high a price, sell for 30-40k less than I thought it would, and kick myself for not at least turning up and throwing in a bid or two. :(

One example - I chose to go to a 2 bedroom brick place on 550sqm, run down, absolute POS. Basically land value only, since it was 700m from a train station, and night spot, while being 500m away from any main road. I bid to $350, final bid was $380, post auction negotiation got it to $401. Thought it was way over priced

3 streets away, 4 bedroom fibro house, good condition, 700sqm. Sold on the day $400k. If I had known, I'd have been in there with $410.
 
I almost didn't go to an auction last weekend because I thought the property was going to sell for $450-460k, as one just around the corner(almost identical streets), got sold for $462k a few weeks back which I had also attended.

But I did rock up and picked up a bargain at $425K. I think the auction from the week before scared people off! There is a lot of crap going for that price in this particular area, so I am absolutely wrapped. Vendor had already bought another property and had agreed on a 30 day settlement. I offered him one too and bingo, I got a bargain! :)
 
Every time I call the REA the house has already been under contract or sold (call same day as receiving emails from realestate.com). This weekend I probably start emailing the REAs to put me on their list to notify when a place is up for sale.

With that said I'm going to inspect a unit just advertised I offered $X which I thought was ridiculous but the REA was ok with it (he seems young) and on http://www.onthehouse.com.au/ the place was last bought 2 years ago at $X-10K and on the same street there are places sold currently at $X+25K easily.. Is he pulling my leg? Or just be greatful?
 
On the lookout but not in a hurry. Interesting noting stubborn vendors in the areas we are looking. Give it 6 months and we will be able to weed out who wants to sell at an unreasonable price compared to those who truly have to sell.
 
i picked up a bargain, should see how bad the market is, i picked up a 1200sqm block land in sydney cdb for $250,000 last week and has 4 brand new luxury 6 bedroom townhouses on it. i cant belive all these poor *******s that ever bought property and have lost so much, there going so cheap, feels like im buying the food @ woolworths thats been marked down.:eek:

they also have veiws over the harbour.
 
Nathan said:
i picked up a bargain, should see how bad the market is, i picked up a 1200sqm block land in sydney cdb for $250,000 last week and has 4 brand new luxury 6 bedroom townhouses on it. i cant belive all these poor *******s that ever bought property and have lost so much, there going so cheap, feels like im buying the food @ woolworths thats been marked down.:eek:

they also have veiws over the harbour.
Click to expand...

Is there a digit missing from the front of that $ number??? That's $62.5k per 6 bedroom townhouse???:confused:
 
Timeisnow said:
i'll buy it off you for $300k in 2 years time...
Click to expand...

You're a "hopeful".

I picked up a bargain yesterday; 2kg's of sausages for $2 at Aldi. And, a loaf of bread for $1.09.

That works out to about .5 cents per each snag in bread.

How much extra for the butter and sauce?
 
Nathan said:
i picked up a bargain, should see how bad the market is, i picked up a 1200sqm block land in sydney cdb for $250,000 last week and has 4 brand new luxury 6 bedroom townhouses on it. i cant belive all these poor *******s that ever bought property and have lost so much, there going so cheap, feels like im buying the food @ woolworths thats been marked down.:eek:

they also have veiws over the harbour.
Click to expand...

Hi Nathan,
What suburb was this in?
How did you find the deal?
 
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