On the hunt again

Ahhh, the smell of blood.

We're in acquisition mode again after a brief hiatus. It's fantastic to be back in the saddle going for a trot with someone else's money.

I'm getting the feeling this one is going to be a very quick one indeed. Might be all over bar the shouting in a day or two.....either that or we'll get spat out the backdoor, bit like we nearly did today.

Playing against multi-billion dollar Vendors is something I haven't done yet.....whoo - she's a rush. Hang on nelly, she could get bumpy !!!

Electronic DD data rooms, CA's coming out your ying yang, Trusts flying left right and centre, acres of land, acres of buildings, plenty of rent.....it's got it all.

It's so much more exhilirating than just talking about the theory of it all.

Ahhhh.....property investing - I luv it. :)

This beats watching the TV on a Tuesday night.
 
good one Dazz. Do you not hold any fear tho of a comm meltdown in the US and it's results on the oz market? the comm collapse in the US is broadly accepted as fait accompli from the small amount i have read on it? (perhaps that woul dbe time to go multinational :) )
 
Dazz, wishing you all the best with your acquisition. Nothing like a good "negotiation". And yes, the bigger the dollars, the bigger the lump in the throat. Had a small win today, with the receiver of one of our tenants. A little win, but a win none the less, and sweet. Again, best wishes for a good outcome.
 
Passive retirement doesn't suit you, or is it just that the old crocodile is hungry again after having finally digested the last meal:confused:
 
Dazz, wishing you all the best with your acquisition. Nothing like a good "negotiation". And yes, the bigger the dollars, the bigger the lump in the throat. Had a small win today, with the receiver of one of our tenants. A little win, but a win none the less, and sweet. Again, best wishes for a good outcome.

Always interested in wins against receivers-start up a new thread mate- we are all interested.
 
Right - so that is done....we're in like Flynn. Knew it would be quick.

Now it's straight into the specific and exclusive DD period before we have to make a final decision next month to sign the final Contract of Sale.


  • Right smack bang in the middle of a Capital City.
  • Term - 10 year Lease.
  • Gross starting yield of 16.5%.
  • Land value underneath worth half of price.
  • 6 month cash Bank Guarantee


Nearly lost the deal by trying to be a smart-*** and offering a bit low which equated to 18% yield. No harm in trying hey ??


After all costs, all interest and all payments, free rent pouring into our pockets will be 10K per week for the next 10 years. That's fair enough for sitting on my bum doing nothing.


Capital growth - whatever comes along will be gratefully accepted.


Ausprop....no I don't fear the GFC. I concentrate on specific title deeds and specific Leases and specific deals. I haven't got time, nor are big enough financially to worry about those global general things.


Redwing....the thrill is in the chase. Now that this one is in the bag, it will just rattle around with the rest of 'em. Next.
 
Ausprop....no I don't fear the GFC. I concentrate on specific title deeds and specific Leases and specific deals. I haven't got time, nor are big enough financially to worry about those global general things.

Exactly! What the rest of the economy does and what happens in my own little economy are quite disconnected. I can't control vacancy rates and yields in the outside world, but I can control the deals I invest in and how I run them after they become integrated into my own little world.
If I started worrying about what was going on in the rest of the world, I'd probably not be doing anything. As so many do.

Congrats on the new deal. Who needs CG when you have cash flow like that.
 
Congratulations Dazz.

Wish I could find 'em anywhere near those numbers. :( Even if outgoings were to turn out a bit high...

Hope the DD goes well. Remember to have that celebratory cup of tea!
 
Sounds very noice indeed. Good luck with the DD. Have a chocolate milk for me too. :)

BTW, on the basis of the smell of blood, and being in the middle of a capital city, is it a blood bank? or a hospital? :confused: :p

All the best with it. Thanks for sharing.
 
Presume the cap rate isn't far off gross less interest, and rent escalation matches real rate of inflation, not the ABS BS figure.

It seems when lease expires, you'll have earned after tax dollars equal to ~50% of current value.

No chance of retail residential leases ever doing that.
 
Yes, we are mildly pleased with it. The respective family members have taken minor equity positions to come along for the ride again, like they did with the Sydney office earlier.

That was the first taste for them of owning property, where the Landlord isn't responsible for anything, doesn't need to do anything, and the only thing they need to do is check their bank balance when the excess cash being flung off by the Tenant lands in there. Compared to their houses, which they all own, I think they liked the taste, and have all decided to have a nibble on another one.

Obviously I am protecting them from all of the scary unknown bits, but once explained over a cup of tea, they are all intelligent enough to get comfortable with it reasonably quickly. Quoting stuff like "The Tenant is responsible, at their cost, to the satisfaction of the Landlord" gives them reasonable comfort.

Anyway, if you can't help your family, what's the point hey ?? They sat on the sidelines for 6 years watching to see if all of the dodgy and risky stuff I was doing was going to result in me falling flat on my face. Those big nasty bogeyman have obviously all dissipated enough for them to finally say "Oi, enough of that, we want in."

So, once more into the breech, we'll spin the bottle and take our chances.
 
i thought i told you VERY specifically that i DIDN'T want a christmas present.

but off you go, flinging your bank's money around, and now you've gone and made it public, so now I look ungrateful if i don't take it.

thanks, thanks a lot.
 
but in all seriousness, you're getting to be much quicker with your acquisitions.

all the best to you, i say.

do you have a specific strategy? or is it just a "if it's right, i'll take it" kinda deal?
 
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