New deal for the naysayers.... Chester Hill Sydney

Ok, havent been posting as much lately been bogged down with different projects... just thought id share something i just came back from....

we went to an auction this evening to purchase some properties for clients.

we came across this property, which we ended up securing....

The numbers are as follows....
Paid, $367,000
in/out costs $35k
reno costs $60k, i say this as an over conservative figure.

=$482,000

sale price = $650,000

= $170,000 profit/or $40,000pa rent or 12% return being 15kms from sydney and on a torrens title block.


pretty cool huh?

I will post renos once done and our resale prices.




Also todays deals
2 x properties in 50,000+ towns paid
$75k rent for $170-220pw, depending if reno done or not, if reno'd will sell for 200k
$95k rent for $180-200pw.

Sorry for being enthusiastic about this however i think these numbers are pretty cool! ;) If i have hit any nerves please let me know and il stop posting these updates.

Nath.
 

Attachments

thanks Sunshine,

Nah not up and running as yet, this is coming in nxt few months and will have some investment tips and I will be making my own video tutorials of what i do and cool links etc. :)
 
Hi Nathan,

This has to be commercial. I don't know any residential in Chester Hill that has the potential to rent for $40,000 per annum. chester hill is currently being swamped with FHB purchasing anything and everything at ridiculous prices.

Look forward to seeing the link/pics

Cheers
 
Hi Nathan,

This has to be commercial. I don't know any residential in Chester Hill that has the potential to rent for $40,000 per annum. chester hill is currently being swamped with FHB purchasing anything and everything at ridiculous prices.

Look forward to seeing the link/pics

Cheers
looks like a duplex
 
Ok, havent been posting as much lately been bogged down with different projects... just thought id share something i just came back from....

we went to an auction this evening to purchase some properties for clients.

we came across this property, which we ended up securing....

The numbers are as follows....
Paid, $367,000
in/out costs $35k
reno costs $60k, i say this as an over conservative figure.

=$482,000

sale price = $650,000

= $170,000 profit/or $40,000pa rent or 12% return being 15kms from sydney and on a torrens title block.


pretty cool huh?

I will post renos once done and our resale prices.




Also todays deals
2 x properties in 50,000+ towns paid
$75k rent for $170-220pw, depending if reno done or not, if reno'd will sell for 200k
$95k rent for $180-200pw.

Sorry for being enthusiastic about this however i think these numbers are pretty cool! ;) If i have hit any nerves please let me know and il stop posting these updates.

Nath.
tell you what i would be enthusiastic if I was you too.
Anyone who has their nerves jangled should sort out their own attitude IMO.
 
I am sorry for sounding negative but I dont beleive that this is true. I know chester Hill really well and there is no way that this would be 367k. A house just sold here last week, it was 12m frontage, 494m, fibre original house and it sold for 400k. something just doesnt sound right.
.
If it is as it sounds then all I can say is WOW! GOOD DEAL MAN!
 
we went to an auction this evening to purchase some properties for clients.

we came across this property, which we ended up securing....

The numbers are as follows....
Paid, $367,000
in/out costs $35k
reno costs $60k, i say this as an over conservative figure.

=$482,000

sale price = $650,000

= $170,000 profit/or $40,000pa rent or 12% return being 15kms from sydney and on a torrens title block.


pretty cool huh?

I will post renos once done and our resale prices...


Nath.
Hi Nathan

Forgive me if I'm sounding a little lost here :confused: but you bought the duplex this week at auction for $367K
You estimate buying and reno costs to be c$95K therefore total cost of renovated product should be $462K (assume $482K is a typo?)

You're hoping for a $650K resale value therefore reaping c$170K profit. But this hasn't yet occurred. How can you be so confident that your product will sell for so much? Also very curious as to see how you possibly bought such a cheap duplex- what's the story? You can share now that the sale is definitely unconditional :D
 
Sorry guy, I know some SS members were with me @ the auction to confirm but i respect their discression.

The property is a duplex if you dont belive my numbers, check RpData sales advice should be updated on there at the moment.

And in 8-10 weeks time there will be a further sales advice with the onsale if we decide that path..

The property was just well bought. its aroun 15 years old, has been trashed but $20k reno each + 10k for termite repairs.

Just need to be well prepared, and know your stuff. I get RpData live streamed to me during telephone @ auction to ensure these deals dont get out of our control.

Sorry typo should be 462k fingers musta been slipping with enthusiasm. :)
 
If there is termite damage & renovations required I could see it being so cheap. Fingers crossed for that you can pull it off and give yourself some breathing space from that nine to fiver. I wouldn't think twice about it :)
 
Great Buy Nathan! When you said duplex I had in mind one of those new massive side by side duplex' that they are currently building around that area. I took a "walk" yesterday past the place you purchased and based on my figures you will be getting the rent you said easily. I am not sure what the resale is like on those kind of duplex's but you have surely done your research so I know your figures are right.
.
I never thought the deal was too good to be true I just thought that there is no way in this market that the FHB would let that one go. I know now why they let it go. too much work for them.
Anyway great buy mate!

Cheers
 
You stirrer Nathan. You stirrer!

If you had mentioned in the first place that the place had termites, most ppl would have immediately understood why you were able to do such a good deal.

Personally I agree that fixing the termite problem is well worth a go, at the figures you mentioned.
A lot of your competition for the purchase would be scared of ants. FHBs would be terrified. :eek: So a lot of the competition for the place was knocked out pretty early i would say.

However I really admire your get up and go with this deal, and I reckon you will succeed admirably. Nice to see someone is prepared to "have a go".Kudos from me to you, but you are a stirrer still:D
 
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