Billion Dollar Property

[Ahmad Azimi]

Someone obviously hadnt learnt their 123 in kindergarten.

http://www.realestate.com.au/cgi-bi...eader=&c=16150494&s=vic&snf=ras&tm=1202375473

 

[Ausprop]

well, TIC reckons property doubles every 7 years or so. so if the property is now worth $4m it could conceivably worth $1.8bn in your lifetime. maybe offer to buy it with settlement from your estate??!!

 

[ianvestor]

Someone should swing the other way and offer them $1,800.

 

[ianvestor]

well, TIC reckons property doubles every 7 years or so.

You're forgetting one thing Ausprop, it's in Docklands.

 

[Andrew_A]

I reckon if you tightened your belt for a few years (say 1000 or so), payed the loan off then that could be a good LOE strategy.

At a 2% yield that would be 36M/year rent.

Presumably it's 1.8M?

 

[fuister]

it must be 1.8 million

1.8 billion could probably buy him two whole aparments

 

[asdf]

it must be 1.8 million

1.8 billion could probably buy him two whole aparments

Or every block on Swanston...

 

[moyjos]

AHHHH

THIS is the PAIN that K Rudd and Swannie are on about

Tell the Gen X'ers they can afford THAT if they "just cut back a bit and save like we had too" LMFAO

Sue

PS. Maybe it is for sale for and on behalf of RPC qld (might JUST bail them out )
http://www.somersoft.com/forums/showthread.php?t=39362

 

[Kristine..]

G'Day

I have a customer in Tower Five, bought off the plan for $830,000 in 2002 and settled in May, 2005. The apartment was valued at $750,000 at settlement. His 'Bank Manager' and his 'Accountant' both said 'Walk away, Docklands is dead! You won't be able to finance it. Don't worry about your deposit, get out if you can!!!'

However, foolish man that he is, he settled. Mirvac had a tenant for him within two weeks, but he and the Main Squeeze (who had been renting in Hawthorn for $500 per week) decided to move in 'for a year, just for a laugh'.

They were kind enough to invite Mike and I to the champagne house warming. Spectacular is not the word. Just magic, just wonderful.

Mr Customer rang me, out of the blue, about two months ago.

He and She just love it. Wouldn't live anywhere else. Worth about $1,500,000 now. Silly them.

Cheers

Kristine

 

[Ahmad Azimi]

You're forgetting one thing Ausprop, it's in Docklands.

That's what he didnt forget. Even though there was abit of oversupply Docklands 2-3 years ago, right now its just going crazy there.

We launched a new tower next to Telstra Dome only last thursday. Already more than 110 of them have been sold in just over a week. I've never seen any project selling at that rate. I didnt know the demand was that huge.

I must say the prices were really good. 1bed from $325k and 2bed from $390k waterfront and high quality apartments. And $8.8 billion in developments by 2012.

Just imagine buying in Darling Harbour 10-15years ago.

 

[dreaming]

I guess it would depend on what you could rent it for and what the body corp would be. Is there land tax is VIC?

 

[ianvestor]

Thanks for the info guys, I'll remember to put tags around my sarcasm next time

[sarcasm]You're forgetting one thing Ausprop, it's in Docklands.[/sarcasm]

 

[Petal]

naah you just gotta use this face and we will get it

 

[oasis1frog]

Live in Docklands feel like living in a wind tunnel most days !