Melbourne Outer Suburbs - Ripple Effect
- Thread starter JIT
- Start date
Great Post JIT.
Inner City will always do well is a recovery.
My best ever deal was 70% in two years. I made an easy $240k. I got lucky, bought before the boom, did a comestic reno and sold at the top. The next buyer lost 20% in my opinion in 12 months as rates rose.
West Melb has not done as well but still 10% per annum.
I dont see much upside in ripple at the moment. FHOG has muddied the water (pun intended) IMo.
Peter
Inner City will always do well is a recovery.
My best ever deal was 70% in two years. I made an easy $240k. I got lucky, bought before the boom, did a comestic reno and sold at the top. The next buyer lost 20% in my opinion in 12 months as rates rose.
West Melb has not done as well but still 10% per annum.
I dont see much upside in ripple at the moment. FHOG has muddied the water (pun intended) IMo.
Peter
Best way to buy a Ferrari or a Lambo for "free"
The 360 Modena is becoming very affordable these days... its one of my all time favourite Ferraris. In the US you can easily find one for around 70-80K USD.
2 bedroom unit sold in Blackburn for 557K second last week of Oct. Auction seemed slow paced to me only 2-3 serious bidders but it still went for a high(ish) price.
http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2008019415
It's late 80s inside. No need to do any work, but dated.
Not sure if Blackburn is counted as a mid or outer suburb.
http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2008019415
It's late 80s inside. No need to do any work, but dated.
Not sure if Blackburn is counted as a mid or outer suburb.
Dont tempt me.
After my Alfa experience I am sworn off Italian Cars by the Boss!
Peter
I remember a red 1972 Alfa 1750 GTV (a 105 series) that a family member bought in 1980. Here's an example
http://www.shannons.com.au/pages/auctions/enlarged.jsp?id=B5Z4S77ACV0C7470&num=1
Car cost $3,500. Repairs in year 1 $8,000, year 2 $6,500 etc. Rust, electrical problems including windscreen wipers that would cross over each other and cause electrics to short out, every other conceivable problem. Although I used to love looking at the lines on that car. Beautiful design.
Sold for $3,500 a few years later.
A friend owned several FIAT (Fix It Again Tony) 124 Sports but didn't seem to have same expense. Maybe because he fixed it himself.
http://www.discountusedcars.com.au/used-cars/fiat/124/7574005/images.aspx
"Of all the Italian car makers Fiat would have to be the most famous and successful and the name was once spelled FIAT because it means Fabbrica Italiana Automobili Torino. The firm, led by Giovanni Agnelli, began making cars in 1899 and has been in the hands of the Agnelli family, to some extent or another, ever since. The company is a colossus, in car making, components manufacture, ship building, aero engines, railway rolling stock, etc. Fiat have built famous racing cars, luxury saloons and the Fiat Bambino. They own Ferrari. Their cars are built under licence in other countries. Their cars have always been popular in Australia and yet they have rarely enjoyed a strong presence here or, for that matter, outside Europe."
Are all Italian cars this bad?
http://www.shannons.com.au/pages/auctions/enlarged.jsp?id=B5Z4S77ACV0C7470&num=1
Car cost $3,500. Repairs in year 1 $8,000, year 2 $6,500 etc. Rust, electrical problems including windscreen wipers that would cross over each other and cause electrics to short out, every other conceivable problem. Although I used to love looking at the lines on that car. Beautiful design.
Sold for $3,500 a few years later.
A friend owned several FIAT (Fix It Again Tony) 124 Sports but didn't seem to have same expense. Maybe because he fixed it himself.
http://www.discountusedcars.com.au/used-cars/fiat/124/7574005/images.aspx
"Of all the Italian car makers Fiat would have to be the most famous and successful and the name was once spelled FIAT because it means Fabbrica Italiana Automobili Torino. The firm, led by Giovanni Agnelli, began making cars in 1899 and has been in the hands of the Agnelli family, to some extent or another, ever since. The company is a colossus, in car making, components manufacture, ship building, aero engines, railway rolling stock, etc. Fiat have built famous racing cars, luxury saloons and the Fiat Bambino. They own Ferrari. Their cars are built under licence in other countries. Their cars have always been popular in Australia and yet they have rarely enjoyed a strong presence here or, for that matter, outside Europe."
Are all Italian cars this bad?
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Italian cars and bikes are probably the most lusted after machines on the planet.
Not because of their level of reliability or the cost of ownership, but because they are sooo sexy. And just to keep things on topic, i'll say that Italian automobiles are even sexier than JIT's capital gains.
Not because of their level of reliability or the cost of ownership, but because they are sooo sexy. And just to keep things on topic, i'll say that Italian automobiles are even sexier than JIT's capital gains.
I agree totally!
Sexy cars and bikes are way better investments than property. hahaha...
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http://images.google.com.au/imgres?...ributo+Ferrari+specifications&hl=en&sa=N&um=1
"Now, attention turns to the new Abarth 695 "Tributo Ferrari", an exclusive vehicle that not only enables Abarth to extend its range by entering into the luxury sports car market, but also offers Ferrari customers a small but exciting small car for all their mobility needs, including practical urban mobility.
The new Abarth 695 "Tributo Ferrari" is distinguished by a number of stylistic changes, but more importantly by substantial modifications developed by Abarth and Ferrari engineers. The engine, for a start, is a 1.4 Turbo T-Jet 16v, tuned to develop over 180 HP. This is combined with an MTA (Manual Transmission Automated) electromechanical gearbox with race-inspired paddle gearshift that makes full use of the engine's performance by reducing gearshift times.
To improve acceleration, the car is fitted with performance tyres on 17'' alloy wheels featuring a design inspired by Ferrari wheels. The suspension and braking systems have also been strengthened to cope with the extra power: 284 mm multi-section discs with fixed four-piston calipers, both by Brembo, and special shock absorbers let you enjoy performance in total safety.
And of course there is a "Record Monza" variable back-pressure "dual mode" exhaust, designed to improve engine performance and deliver an inspiring sound over 3,000 rpm."
"Now, attention turns to the new Abarth 695 "Tributo Ferrari", an exclusive vehicle that not only enables Abarth to extend its range by entering into the luxury sports car market, but also offers Ferrari customers a small but exciting small car for all their mobility needs, including practical urban mobility.
The new Abarth 695 "Tributo Ferrari" is distinguished by a number of stylistic changes, but more importantly by substantial modifications developed by Abarth and Ferrari engineers. The engine, for a start, is a 1.4 Turbo T-Jet 16v, tuned to develop over 180 HP. This is combined with an MTA (Manual Transmission Automated) electromechanical gearbox with race-inspired paddle gearshift that makes full use of the engine's performance by reducing gearshift times.
To improve acceleration, the car is fitted with performance tyres on 17'' alloy wheels featuring a design inspired by Ferrari wheels. The suspension and braking systems have also been strengthened to cope with the extra power: 284 mm multi-section discs with fixed four-piston calipers, both by Brembo, and special shock absorbers let you enjoy performance in total safety.
And of course there is a "Record Monza" variable back-pressure "dual mode" exhaust, designed to improve engine performance and deliver an inspiring sound over 3,000 rpm."
That's what I thought, seemed cheap-ish for a new-ish ferrari.
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Bloody hell!! I have lusted after a 360 modena since they were released. The shape is much better than the spyder; and I don't want a red one either. I had no idea you could pick one up for that price - with only 34000 on the clock. Aaargh!
Think of this way - It probably won't lose much value in the next year or two, JIT. Maybe buy it, drive it around for a year or so & then sell it. You could then die happy knowing you have owned one.
Crap! I might do that myself one day...You can always just rent one for the weekends... costs about $1000-1500 as I recall from various sports car rental joints.
I did that to get a BMW out of my system, I wanted to spend lots of money buying one (I went to the BMW museum in Munich and fell in love), so I rented a Z4 just for the weekend and it was nice but... well... anyway I saved heaps of money
I did that to get a BMW out of my system, I wanted to spend lots of money buying one (I went to the BMW museum in Munich and fell in love), so I rented a Z4 just for the weekend and it was nice but... well... anyway I saved heaps of money
In the Herald Sun - "Rate rises did not cool market interest in a "quirky" 3 bedroom house at 6 Catherine St, Ringwood. 50 bids took the price $61K over the reserve to $531,000. If you lookm at the quirkiness of this house - you had to walk throuhg a bathroom to get to a bedroom - to achieve this result is quite exceptional."
hi guys, i was at the auction, it was my neighbours who bought!!! they won the auction at $590k and then the owners pushed it up to 623K !! i couldn't believe it either, the owners are going to keep and extend out the back, she wanted north facing back yard with big block and in that area, still a lot of money for a shitter really.
they moved in last week and are now enjoying living in a shitter... well it will be an interesting journey for them...... will keep you posted.
all the developers pulled out at 570ish was a 3 unit site.
