Are you on track for 2011? Half way check point.

So it is the hump of the year and we have passed the half way point.

We always have goals at the start of the year, and for myself I like to reflect on these along the way to see how I am tracking and if not on track I give myself an upper cut and if I am on track I put a rocket up my A** to do better.

From an investment POV, I have added 14 properties thus far and sold two. (Selling is out of character for me but occasionally I will sell 1 or 2).

This is my own personal run sheet so far -

1) House in Western Sydney
Purchase price $205,000
Comparable sales $260,000
Rent $320
No renovation

2) House in Orange NSW
Purchase price $135,000
Comparable sales $N/A as house is inhabitable
Rent $N/A
Property could do with $50k reno and rent for $650pw+ and be worth $250k+ however am knocking the house over and building 3 x villas for $530,000 with a final value of $310 + $280 + $280 ($870k) with rent of $2000pw

3) Land in Riverstone
Purchase price $11,000
Resold for $30,000 in 1 day on market after settlement

4) House in Muswellbrook
Purchase price $105,000
Comparable sales $260,000 (after reno)
Rent $380
Did a $30,000 renovation and have potential to add a second dwelling to the front of the yard.

5) Unit in Cairns
Purchase price $90,500
Comparable sales $130,000
Rent $190
$2000 of repairs to leaky taps new blinds etc...

6) House in Moree
Purchase price $50,000
Comparable sales $80,000
Rent $140
No renovation

7) House in Moree
Purchase price $60,000
Comparable sales $80,000
Rent $130
No renovation (rent should be $150 - $160 with no work)

8) House in Willmot
Purchase price $180,000
Comparable sales $240,000
Rent $320
Needs $7000 paint, carpet, fence, and tidy up.

9) Unit in Cairns
Purchase price $112,000
Comparable sales $140,000
Rent $200
No renovation

10) House Marsden Park
Purchase price $58,000
Comparable sales $Hard to compare
Rent $230pw
$20,000 renovation

11) 2 bed Villa in Nowra
Purchase price $97,000
Comparable sales $160,000
Rent $190
No renovation

12) House in Kempsey NSW
Purchase price $7,000
Comparable sales $140,000
Rent $230
Needs $30,000 renovation

13) Block of villa's in NSW
Purchase price $316,000
Market Value $500,000
Rent $980
Each villa fully renovated, brick and very modern.

14) Burnt out house in NSW
Purchase price $120,000
Comparable sales $600,000
Rent $1000pw (after renovation)
Needs $100,000 renovation, and has potential for 3 x villa's out the back.


So all in all I am on track for my initial goal this yea of buying 1 new buy and hold property every month this year.

Aside from this I have renovated 7 properties, many of these being existing properties also.

Just thought I would share my adventures of late, and I will as usual post up some good content videos of the renovations.
 
Great work Nathan,

Definitely an interesting read, thanks for posting as we all need a gee-up now and again.

My Goals achieved for the last six (6) months are more work related than investing, however when investing is your job, then I guess so are yours :D


Sounds great Nathan!

The past 6 weeks for me has made up for the past 6 years.

How so Aaron?

Maybe worthy of a new thread or expanding on the one about making some changes in your life?

sometimes, you just need a clean slate.

I'm sure I'm not the only one interested :confused:
 
Hi Nathan,

Thanks for sharing, and congratulations on your purchases this year. The yields are very high.

Are you setting your loans to pay down, or going interest only?

My investing this year so far has consisted of stashing cash into offsets and researching areas for another IP.

Regards Jason.
 
Hey Micheal,

How does the 1.9 million threshold work?

The land tax in NSW has 2 threshold.

1. $387,000 and above - tax is $100 + $0.16 cent of the land value ---- this is called the standard threshold
2. Above $2,366,000 ( 2011) - Tax is $100 + $0.2cent of the land value ---- this is called the Premium threshold

Sorry my 1.9M was from 5 years ago 0.o --- the new updated figure is $2.36M for NSW


http://www.osr.nsw.gov.au/taxes/land/


Regards
Michael
 
How so Aaron?

Maybe worthy of a new thread or expanding on the one about making some changes in your life?

sometimes, you just need a clean slate.

I'm sure I'm not the only one interested :confused:

i'd love to post a thread about recent changes, but half of it is intellectual property and the other half hasn't quite come to fruition yet.

ducks are lining up though - just need to get one away first and then i'll post up an interesting read.

cheers.
 
i'd love to post a thread about recent changes, but half of it is intellectual property and the other half hasn't quite come to fruition yet.

ducks are lining up though - just need to get one away first and then i'll post up an interesting read.

cheers.

No Dramas..either way, good to hear good things are happening!
 
Are you on track for 2011?
Hi Nathan
You're building an amazing portfolio. :)
I don't have big plans like you but I'm definitely on track.
I've achieved my biggest goal which was to reduce my PPOR mortgage and I'm on track to buy 2 more IP's this year.
 
For all our differences of opinion at least you get off your butt and do something unlike the masses of lazy gits.
Out of that lot Orange is the only one worth keeping and maybe 14, the rest seems like riff-raff to me.
 
thats so impressive

nathan how do you keep track of your properties? say if someone called you up and said he's calling about a particular property, do you know which one instantlly? or do you have to refer to some document to remind yourself?
 
Thanks for the feedback everyone.

JP, I do forget some properties I own, I cant run them all off my head but I can get majority of them off top of my head. The agents call or email and say I have an issue at xx street so not so hard. I have issues with paperwork and keepig tax on track and in the middle of implementing a system to make this easier.

PB, Thanks for the kind words mate. :)

Land tax isn't an issue, its a cost of doing business. However with saying this it isnt all that high as I do have units and mix of all different stuff, but would be a nicer $15 - $20k in my pocket each year if it didnt exsist.
 
No.Not even close.

Learned we hit the wall when we had trouble refinancing our former PPOR this year.
We finally did refinace at P&I 3.69%,and signed all paperwork a couple of days ago. It was a bit frightening. We did have access to a private lender at IO 8%, as a last resort.
We restructured our debt a bit, and decided to use the private lender for other high interest debt.(still tax deductible)
Not having the "employed income" makes a big difference to lenders.

Tomorrow, we will put in an offer for a transportable home.If accepted we will pay with our credit card.
Cost is $12K and we will rent for $150 wk.
It will cost us $1500 to make it rentable.

Next year, I expect it to be a whole lot easier to buy properties.


Nathan, you are doing a great job.
Love hearing about them.
 
well i hope so. started off this year with just some shares and not much at that. now have 1 IP house and waiting on setllement to 2 IP units. so im pretty happy as a beginer to be able to get 3 IPs in a year. i just hope i can continue for the next few years to be able to do this.
 
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