How someone earned over $2,000,000 in one year

[Genia]

Here is the real example of how to earn over $2,000,000 in one year with just 2 transactions. I hope this house was owner's primary residence, so he or she did not have to pay capital gain tax

http://www.heraldsun.com.au/leader/...e-than-5-million/story-fnqsbpzr-1227201091109

 

[MIW]

Here is the real example of how to earn over $2,000,000 in one year with just 2 transactions. I hope this house was owner's primary residence, so he or she did not have to pay capital gain tax

http://www.heraldsun.com.au/leader/...e-than-5-million/story-fnqsbpzr-1227201091109

No sorry, for privacy reasons it cannot be disclosed but was sold for redevelopment yes. Not a private owner though!

 

[chindonly]

$5 Mill for 800 sqm. That price is ridiculous!

 

[Genia]

Yes, it is so hard to calculate selling prices right now. Before I could give quite accurate selling price estimation.

But now it is just crazy. Sometimes some very motivated buyers at action push the price to unbelievable levels.

The eastern Melbourne suburbs are currently in very high demand from home buyers, developers and investors. Especially if something comes with a good chunk of land attached.

 

[scha9799]

wow !

this is crazy !

I am struggling to find a good deal in the hot market.. and someone just walk away with $2,000,000 richer !

 

[MTR]

Here is the real example of how to earn over $2,000,000 in one year with just 2 transactions. I hope this house was owner's primary residence, so he or she did not have to pay capital gain tax

http://www.heraldsun.com.au/leader/...e-than-5-million/story-fnqsbpzr-1227201091109

Have no clue of values of land in this area but is the huge discrepancy/price tag due to the development potential - commercial 1 zone???

 

[Scott No Mates]

What an absolute waste of ink!

It is not a house, it is a development site positioned behind the shopping centre, and adjoins other commercial premises.

The house is one of a group of 3 which is surrounded by existing commercial development, a church and major carparking facilities.

Parking abounds in the adjoining blocks as the site is 150 m from the station.

 

[dan_89]

What an absolute waste of ink!

It is not a house, it is a development site positioned behind the shopping centre, and adjoins other commercial premises.

The house is one of a group of 3 which is surrounded by existing commercial development, a church and major carparking facilities.

Parking abounds in the adjoining blocks as the site is 150 m from the station.

Beat me to it Scott!

I drove past here the other week and vaguely recall seeing the house next door flattened already (and possibly 50 Monclair also?) 52 Monclair sold for $1,650,000 in September 14' but 50 Monclair has no sale history.. Total outlay for land alone would be around the $8mill mark if the development site is including the 3 x blocks!

Surely the purchaser would have put forward a few generous offers to vendor prior to going on the market to try seal the deal beforehand?

Glen Waverley is crazy at the moment..