So...has anyone picked up a bargain yet???
- Thread starter HandyAndy888
- Start date
Thought i'd throw in some more....
1) Kalgoorlie. purchased for 130k in feb 08. 35k reno. Sold oct 2008 for
249k.
2) Kalgoorlie. purchased 190k may 2008. No work done. Valuation came in at $290k last week.
3) Kalgoorlie. purchased $110k dec 2007. 40k reno. Sold oct 2008 for 259k.
1) Kalgoorlie. purchased for 130k in feb 08. 35k reno. Sold oct 2008 for
249k.
2) Kalgoorlie. purchased 190k may 2008. No work done. Valuation came in at $290k last week.
3) Kalgoorlie. purchased $110k dec 2007. 40k reno. Sold oct 2008 for 259k.
Well done!!!! Great turnarounds!!!
what's the story here? hard to see a valuer giving you that sort of uplift in this environment - did you steal it from a grannie or somehting?
fudge me they're some great figures!
for those prices i'm assuming 1 and 2 bedders in town yes...?
for those prices i'm assuming 1 and 2 bedders in town yes...?
All sounds great, but why sell?
What was the nett profit after CGT and selling/buying/depreciation/holding costs?
Hi,
Yes, they were good purchases.. but i was able to secure undervalued prices because I happened to be in the right place at the right time.
No.1 was purchased from a builder who needed to sell. Funnily enough... I ended up getting him to do the reno for me...
No.2 was purchased from two business partners in QLD who were going through a messy split. Wanted out asap.
No.3 was purchased from an investor who put the house on the market at landvalue because she thought the condition of the house warranted a complete knockdown. She had the property under contract - but that fell over. I offered a bit less than the original buyer and then got my builders to go in straight after settlement to renovate it.
Holding/selling costs/purchase costs comes to around 15-20k. i am happy with the net profit on them as the properties were always purchased with a view to selling.
Why am i selling? I am a full time investor and therefore need to trade to cover living expenses. Not into LOE... Also, in places like Kal you got to know when to hold and when to fold. I am waiting on other opportunities in brisbane atm.
WB
Yes, they were good purchases.. but i was able to secure undervalued prices because I happened to be in the right place at the right time.
No.1 was purchased from a builder who needed to sell. Funnily enough... I ended up getting him to do the reno for me...
No.2 was purchased from two business partners in QLD who were going through a messy split. Wanted out asap.
No.3 was purchased from an investor who put the house on the market at landvalue because she thought the condition of the house warranted a complete knockdown. She had the property under contract - but that fell over. I offered a bit less than the original buyer and then got my builders to go in straight after settlement to renovate it.
Holding/selling costs/purchase costs comes to around 15-20k. i am happy with the net profit on them as the properties were always purchased with a view to selling.
Why am i selling? I am a full time investor and therefore need to trade to cover living expenses. Not into LOE... Also, in places like Kal you got to know when to hold and when to fold. I am waiting on other opportunities in brisbane atm.
WB
BV:
Strong demand for executive type rental properties, at good returns, strong demand for well presented properties...(our little niche
).
While painting and ratting around the last place, people were knocking on the door asking when the place would be available for rent. It rented before being advertised, as did the place we own next door.
Horsham is not in the league of Ballarat or Bendigo's but a strong catchment area for north west population all the same.
Good schools, a good health service, employment opportunities, the mining about to kick in, some of the finest agricultural land in Australia-drought or no drought, the land prices steadily increase, gateway to some beautiful National Parks, halfwayish between Adelaide and Melbourne.
....and according to Jeff Kennett and John Brumby home of the finest steak in Victoria (I'm about to verify that).
Obviously not raging capital growth, but no harm mixing a few small-fish-are-sweet in with a couple of bigger sharks in the portfolio.
Strong demand for executive type rental properties, at good returns, strong demand for well presented properties...(our little niche
).While painting and ratting around the last place, people were knocking on the door asking when the place would be available for rent. It rented before being advertised, as did the place we own next door.
Horsham is not in the league of Ballarat or Bendigo's but a strong catchment area for north west population all the same.
Good schools, a good health service, employment opportunities, the mining about to kick in, some of the finest agricultural land in Australia-drought or no drought, the land prices steadily increase, gateway to some beautiful National Parks, halfwayish between Adelaide and Melbourne.
....and according to Jeff Kennett and John Brumby home of the finest steak in Victoria (I'm about to verify that
). Obviously not raging capital growth, but no harm mixing a few small-fish-are-sweet in with a couple of bigger sharks in the portfolio.
Melbourne Property
Hi, l am new to your site and looking for some advice on which areas are good at the moment to buy investment properties in Melbourne.
Also looking at buying block of apartments for a renovation project.
Anyone know of some available.
Cheers
Hi, l am new to your site and looking for some advice on which areas are good at the moment to buy investment properties in Melbourne.
Also looking at buying block of apartments for a renovation project.
Anyone know of some available.
Cheers
It's a 2 beds unit in Wiley Park, near train station 30 mins to City. It got leased 3 weeks after settlement because I want top rent, but if you ask for 280 pw rent it will be leased a lot quicker.
It still have sisters, brothers and cousins
The suburb will not be to many cup of tea, but I don't live there.
If you consider my purchase is a bargain, Sydney is full of them.
Fully sick, isn't?
Hi there Marty,
I don't mind at all. Standard rates for unit in Canterbury council at $750 pa and strata $1250 pa.
Cheers
What I do when I have the deposit in my pocket is to pick undervalue suburbs, based on proximity to services and amenities and Sydney City, then stick my research to it. I like train line suburbs.
My believe is, if it's so close to beautiful Sydney city and so cheap to get there, and the yield is there, the growth spurt will eventually come to fruition.
I have yet to develop negotiating skills. Most properties when I was shopping around there was sold for or below $165K anyway. I think I paid a bit too much for it, but I was fed up looking after 2 months and I need time get our finance sorted to save some monies for visiting my families overseas next year.
I spoke to my broker last week and have been trying to buy but everything here is selling like theres no tomorrow in the lower price range (300kish) I can barely get agents to call me back even after telling them Im keen to make an offer, Ive put in three offers within a week and all have been rejected, finding it really hard to bargain even a little because realtors know their prices will be met by someone soon and theres no need to take a little less than asking price unless you find a motivated seller, which I havent yet. .
Hey Guys,
I just bought my first property, not sure its a bargin as such but i think its an ok buy, a tired but solid 3 bedroom fibro cottage in granville for 255k on a smallish block of land. Ive gone from thinking its the steal of the century to a very bad investment to a decent purchase
I just bought my first property, not sure its a bargin as such but i think its an ok buy, a tired but solid 3 bedroom fibro cottage in granville for 255k on a smallish block of land. Ive gone from thinking its the steal of the century to a very bad investment to a decent purchase
