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

Hahahaha,

Nah was broken into....

Termites were through the walls. This is good because we can remodel the whole property at the same time.

Nah didnt do any graffiti, if i wanted too there wasnt enough blank space on any walls to even tag :)

Even the kitchen has graffiti in/on the cupboards.
 
Hey Nathan,

Just to put my 2 cents in i think it"s a fantastic deal Looking forward to final pictures and figures from resale.

I admire your creativity on this one cool stuff...:)
 
Ok we settled on chester hill couple of days ago.

totally cleared the site, and got our tradies in rebuilding.

Just came from here tonight, and as you can see from couple of days ago to now (excuse the lighting) its been gutterd, and new wall studs are going up.

We would anticipate this will be availible for resale within next 2 weeks.

Will keep posting pics when time permits.

enjoy.
 

Attachments

2 weeks - You're taking bragging to new levels. :p

How long did it take to gut?
What are your plans for the place?

Please keep the pics coming.
 
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Hehehe...

Will keep pics coming.

Took a day to gut from memory...

however the whole block was cleared of heaps of shrubs and trees... the face sits up and smiles now, there is no vegetation in the front yard.

the whole building has been gutted and may take few extra days for walls to come in, however the total floorplan is being remodeled, new walls, open plan full rebuild from the guts. All thats being left is the shell, and the memories of the old homes have been put in the skip.
 
Drove past there. good to see the tradies working away. your not wasting any time are you. i imagine u want to sell in this market. chester hill is seeing some really good price increases in last 2 months. good work,.
 
Hey Mj

Hehehe, being the people of charachter we are, the goods are there. I do not have pics atm, as the camera was flat today when I went to use it. There are a few little furnishings to do as tidy up but all done.

I will get photos shortly, at the latest we will have it as a project update for our next catchup.

Its ready to rock and roll basically.

The internals now look similar of that one @ newcastle one we showed on tuesday night just for a comparable of what the product will be.
 
And those whom this is for are running about 10 similar projects a week therefore this is an easy one.
And would "those whom this is for" be your partners?
Is Victor's company doing the renovations?
Do you then offer them to your clients when they're finished?


However with relationships with agents i tend to get private treaty listings (normal for sale) properties before they hit the market...
You keep alluding to this and "silent sales" at the meetups as if only a select few will ever know about them, when in actual fact anybody can find out about them and they are available to everybody.


They dont buy a little scummy house here or there... they are active, purchasing daily... :)
Lol, do they buy nice places in Shalvey & Bidwill?
Or are those reserved for your clients?


got meeting on monday with developer for around 200 brand new units trying to negotiate the whole lot for people.
So your gonna be a vendor for a property developer as well as being a buyers agent?
 
you sound jealous there, Piston Broke.

skepticism is fine - but come on....

the man has found a niche market and is exploiting it, otherwise called a "competitive edge".
 
HAHAHAHA, Funny funny Piston.

Perhaps next meeting you could allude to whom you are. Let me answer these questions for you.


And would "those whom this is for" be your partners?
Is Victor's company doing the renovations?
Do you then offer them to your clients when they're finished?

-To be Blunt, it is getting very repetitive you questioning my actions.
-Yes Victors team, actually its victors property, as you would have heard him say at the meetings with HIS partners.

- We do not sell the properties to our clients, they go on private market with real etsate agents.
- The only properties we purchase for others are properties we would purchase ourselves.


You keep alluding to this and "silent sales" at the meetups as if only a select few will ever know about them, when in actual fact anybody can find out about them and they are available to everybody.

-Silent sales, well tell me you have the agent calling you before the listing hits the net or the sign erected, and then I will give you Kudos. BTW I am more then happy to pay you for any deal that is this good that you can find. Just call me and were on.


Lol, do they buy nice places in Shalvey & Bidwill?
Or are those reserved for your clients?
-Do not even purchase in these areas. Unless there is a bargain, however do not see value there these days. @ $150-180k I see value.


So your gonna be a vendor for a property developer as well as being a buyers agent?
- I dont follow your vendor for a developer?? Please explain as you dont make any sense.
- I met with an agent, whom had a few good blocks of units. However the developer/s could not meet our prices which we had offered so we walked away.
- However had some success of late with securing some units which we bought 1/3 of a block for $225k, where they were selling new 3 yrs ago for $339k. Their rental figures are$320-340pw.
Regards,
Nath.
 
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I been doing this long enough to have eyes and ears just about everywhere, not just a finger on the pulse in my areas of interest.
Question you?
This is the Real Estate & investment industry, everybody should question everything.
Caveat Emptor

And btw your accounting "expert" seems to forget that if you claim tax deductions for using a home office, you will pay CG tax on that portion of your ppor. And the CG liability may actually compound over the years, just like the value of the whole house.
If your renting, than that's a different story, as a portion of the rent may become tax deductable.
So people would need to make a few considerations before claiming a home office.


http://law.ato.gov.au/atolaw/view.htm?docid=TXR/TR9330/NAT/ATO/00001
36. Generally, capital gains tax does not apply to a person's sole or principal residence. However, subsection 160ZZQ(21) applies to deem a capital gain (or loss) to have accrued to the extent to which the sole or principal residence disposed of was also used for the purpose of gaining or producing assessable income during the period of ownership. IT 2673 states that as a rule of thumb, it can be expected that where an area of a home is a place of business the capital gains provisions will apply . The calculation of any capital gain or loss is discussed in paragraphs 21 and 22 of IT 2673.
 
PB, I have bought a property before it was advertised, before any inspection or anybody else knowing that it was for sale. I literally had a deposit down a couple hours after the vendor signed the agency. This was in my area. I'll give you the street name & you can tell me the street number and a few particulars about the property seeing as though you have eyes and ears everywhere.

It's lazyness by the agent but i exploited that and it proves that Nathan is surely able to do similar things in his area. Maybe not just using a lazy agent but by other means too. I'm sure he can buy property that nobody, including yourself (even if you have been at it for 1000 years) has seen or even heard of so no need to argue that point.
 
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Thanks for feedback.

PB, obviously you do your research well so goodluck with your succes im sure you will go far :D

Sommerville, Goodwork, your right, anyone can do anything and there are plenty of variables out there that swing from this. I am no different from anyone else here as we all were born with same amount of time in our days etc, its just how we use it.

PB, it comes down to a conversation I was having the other day. Should I cook my own meals or eat out?
It costs me $5 for 2 chicken fillets, $1 for some rice $1 for some vegtables = $7.

I can go to my local chinese shop with fully cooked meal and pay them $7 for a deal I have with them.

What shall I do? cook it or buy it done? I prefer to buy it, as its convenient, and they are better cooks and make meals for all my lovely neighbours and that is what they are good at. Also I do not need to clean up the cooking utensils nor do i have to waste my time infront of an oven for that amount of time.

Same result, different systems. whatever gets you to where you need to be. In that 1/2 hour id spent cooking, which I saved, I can spend with my Mrs, having a more productive time. Or I could have spent it on here typing constructive replys :D


Oh also PistonBroke, final note thinking about Somervilles comment which made me think of a telephone call I had this afternoon. Agent elderly lady, whom offered us accomodation with her family while in town on the weekend (relationship) rang me, as when I was inspecting a purchase I had made I said see these houses to my left which are kicked in and vandalised. I cannot be botherd RPdataing (as they are in the local area the agency would have a better response aswell) them up and contacting the vendors, can you contact them, (placed offers around $40k) and tell them we will purchase all of these. I have a phone call back stating I will have answers tomorrow as to final figures. FYI property will resell for $140k with cosmetic reno like all our other lovely projects.
On a final note in closing PB, can I ask what were you doing on your long weekend advancing your investing business? Was it trying to criticise myself? or my investing? Or were you out in the market with your eyes out there everywhere making many prosperous investment decisions?

Have a great evening :)
 
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