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From: Michael Croft


Hello all,

No I am not back to offend you all just yet but felt an explanation was required for my absence.

Two years ago one of my advisors, originally a mentor and then friend, was diagnosed with cancer. He went into remission then relapsed about three months ago - he was buried yesterday, age 46. As I am but 43 this was a little close to home, the expression "there but for the grace of god go I" comes to mind.

Anyway this is not meant to be a philosophic treatise but an apology of sorts to all who emailed and phoned but got no reply - I was rude and apologise. Suffice to say I was having my (another) mid life crisis and am over it.

Death does have a way of making you re evaluate your life and meaning - I'm sure the answer is 42!

Anyway to property; been doing a few renos whilst I've been wallowing in self pity - the results are impressive even if I do say so myself. I'll post the details latter but the figures are;

1. $440k to $600k for a $7k outlay and I've still got 4 months to settle! This is a straight cap gain deal the rental return is pathetic.
2. $350k to $480k for a $22k outlay and a 9% rental return in an area where 5% or less is the norm.
3. $260k to $510k for a $16k outlay AND an 11% rental return AND less than 1km from the CBD.

Full details to come for those who are interested.

I will also post details of some of the people I have helped do it for themselves over the last 12 months. Each is now an average $100k in equity better of for the experience for an average of $20k outlay.

Have a great weekend,

Michael Croft
 
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Reply: 1
From: Joanna K


Michael,

glad to see you back!


Kind regards

JOANNA
 
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Sim

Administrator
Reply: 1.1
From: Sim' Hampel


Yes, welcome back Michael.

Reports of your death have been greatly exaggerated.

We have been waiting patiently for your return (well some of us have been anyway).

;-)

 
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Reply: 1.1.1.1
From: Ian Parham


G'day Michael & All

At 40yrs (wife & two boys 3 + 5) I find myself going through a mid life crisis on average once per fortnight. Last two years have been horrendous!!!

Without getting into the sensitive new age dribble....it is difficult for males when faced with this period of time, the loss of a friend exacerbates the pressures. I am glad you are taking the time to challenge yourself and work through the issues as they arise. To have been able to maintain some focus on your property dealings is also a credit to you.

Take your time....

Welcome back!!

Regards Ian
 
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Reply: 1.1.2
From: Rixter ®


Sim,
>
>Reports of your death have
>been greatly exaggerated.

Maybe those reports are not that exaggerated afterall.....I think this could actually be his "Second Coming"!




Happy Investing,
Rixter :)
 
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Reply: 2
From: Geoff Whitfield


Welcome back Michael. Good to see you here again.

I would certainly be interested in hearing about your renos etc.

Geoff
 
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Reply: 2.1
From: J Parker


Welcome back Michael! Sorry to hear about your mate- death really does have a way of making us refocus and question a lot of things, doesn't it?

I, for one, am very happy that you're back as your experience and knowledge on this forum has been much appreciated by people such as myself. Though I'm not currently renovating any IP's I am very keen to hear more details of your recent successes! With the current flat rental markets, it seems as though you are not holding as many properties as you normally would. Even after buying and selling costs, you appear to be making quite sound profits. Perhaps you could enlighten us on what you improved on the properties to make that much equity. Looking forward to the details.......
Cheers, Jacque :)
 
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Reply: 2.1.1
From: Michele B


Yes, great to see you back MC. Things haven't been the same without you at all!!
 
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A

Anonymous

Guest
Reply: 2.1.1.1
From: Anonymous


Michael,
We've all missed your wisdom and excellent advice. I for one am also glad you're back and trading- I have also experienced these kinds of enforced meditations and know that despite contemplating the human condition for a while, you will come back stronger and loving life even better for the time out.
Welcome back, we all look forward to your posts and congrats on the GREAT deals!
Bridie
 
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