The deal of a lifetime

Not sure.... I don't think 10% under value would fit, maybe 20%+ would.

I was hoping that posters could tell us what deals they have done that are deals of a lifetime to help others recognise them.

Also that deals they come across, but have to walk away from for some reason, could be posted here for the benefit of others.

I'd go down a different track to everyone else.

The deal of my life time (so far) didn't revolve around price, but rather the opportunity presented. Won't bore people again with the details as I've posted it elsewhere - but the deal for me was securing two properties side by side to form a large development block. Why is buying two houses side by side the deal of a life time, lots of people do it? Not that simple - also for them to be in good zoning, good location for future improved zoning (fingers crossed), location in general for the city, good sizes and boundaries - another property on either side wouldn't add as much value as these initial two did.

Lot of things had to fall into place for the deal to happen and without each previous step taken, the next wouldn't have been possible or mattered. But in the end - definitely the deal of a lifetime so to speak.
 
Hey Michael,

Re your comment on my geraldton houses.

"Read any of Karina's posts on the ex housing commission houses she was buying in Geraldton for around $70K renting for $120pw which are now all worth around the $300-400K mark. She bought a dozen odd..."

Yep they were around the 70k mark , but they are not worth 300k plus (I wish) more like 190-270k currently but yeah they have been great deals, rents were around the $120 plus back then now getting $220 - $300 a week per house.
 
I think that what counts as a Deal of a Lifetime is only apparent well after the event.

In 1996 UK property prices hit their low point after the market crash that started in 1989. It represented the best buying opportunity in the past two decades, which is a fair chunk of an investor's lifetime.

In terms of specific deals, my brother was working in LA during 1999 and 2000. There was a neighbourhood just back from Santa Monica that was pretty cheap and rought at the time, and it was possible to pick up small warehouses for not an awful lot of cash.

When I was over there last year he pointed them out, and said that it was now a fashionable area of town. If he'd bought one then, he'd now be sitting on capital gains of over a million dollars.
 
Sometimes the Deal of a Lifetime is not about the money on the day.

Having said that, when we bought the Bank nobody else wanted it - it was the proverbial Auction where nobody came (except the gawkers)!

That Deal nearly crippled us financially for the first few years (we have got used to that situation - nearly every deal since then has just about crippled us in turn!) but now, 13 years later, and with the end of the original mortgage in sight, it is the Jewel in the Crown.

Well, one of the Jewels in the Crown. It is a fairly diamond studded tiara nowadays, and we went down the mine and mined for the gems ourselves

Of course, we were just 'lucky', weren't we!

Luck, or so they say, is when hard work meets opportunity.

The opportunities we have had over the years were never secret deals. Every opportunity was advertised on the open market. Three were at Auction and the rest were Private Sales.

A couple of years back someone posted The Investor's Lament - I have tried to search for it but to no avail.

The Lament says it all - the deals we should have done.

I am very grateful for the deals I have done. Time has turned every one of them into a Super Deal but then again, maybe I'm just easily pleased!

Cheers
Kristine
 
Ours came April 2009.
We purchased a 4 bedroom house on almost 3 acres.
The rent almost covered the mortgage.Current owner was getting $750 month
There were 4 basic mobiles on this property.The current owner received $1660 month rent from these mobiles.
We knew he was under market for rents on the house and mobiles.

We purchased and did about $3000 minor renovation.
We rent the house for $1000 month
We receive $2550 month from the mobiles.

The mobiles replace my income from working..thus quitting in 2 months.

Deal wasn't without issues.
Vendor tried to back out the last week, and we threatened legal suit.
He sold.
 
Yep they were around the 70k mark , but they are not worth 300k plus (I wish) more like 190-270k currently but yeah they have been great deals, rents were around the $120 plus back then now getting $220 - $300 a week per house.
Sorry mate!

Maybe next year they will be... ;)

But they still count as my favourite "deal of a lifetime" thread.

Cheers,
Michael
 
A couple of years back someone posted The Investor's Lament - I have tried to search for it but to no avail.

The Lament says it all - the deals we should have done.

Here's a link http://www.leveragethis.com/lament.htm

Investor's Lament

The windfalls that I should have bought
Were lost because I overthought;
I thought of this, I thought of that
I could have sworn I smelled a rat;
And while I thought things over twice
Another grabbed them at the price.
It seems I always hesitate
And make my mind up much too late;
A very cautious man am I
And that is why I never buy.

When others culled those sprawling farms
And welcomed contracts with open arms;
I chose to think and while I thought
They bought the deals I could have got!

The golden chances I had then
Are lost and will not come again!
Today I cannot be enticed
For everything’s so overpriced.

At times a teardrop drowns my eye
For opportunities I had but did not buy;
And now life’s saddest words I pen……
“If only I’d invested Then!”
 
Thanks jrc

In our dining room we have this on the wall, where we can all see it at least once each day:

Labour was prior to Capital, but Property is the fruit of labour
Property is desirable, and is a positive good to the world.
That some should be rich shows that others may become rich and hence is just encouragement to industry and enterprise

Let not he who is houselss pull down the house of another, but let him work diligently and build one for himself, thus by example ensuring that his own shall be safe from violence when built


Abraham Lincoln.


There are some words which ring across the centuries, and impact and influence us in a profound way over time

These words have certainly influenced me and my family and have been a powerful influence on our actions for thirty years.


Far better that we should 'become rich' than lament the opportunities we lost

Cheers
Kristine
 
In our dining room we have this on the wall, where we can all see it at least once each day:

Hi Kristine

An excellent set of quotes but something didn't quite ring true to me about the first half of your first line so I looked it up. Turns out the actual quote for that one is:

Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. Capital has its rights, which are as worthy of protection as any other rights.

The rest is all correct but this perhaps puts something of a different slant on it all... :)
 
Ah, yes, but the scroll on my wall is as quoted

So perhaps the publishers took a bit of poetic licence and created a poster with two quotes printed as one or a hybrid of a few of Mr Lincoln's quotes

The full quote as you have provided (thanks), seems to be more in the 'protection of the workers' vein rather than the scroll which I have, which is more of an encouragement to work, and then to develop capital for ourselves which would instill respect for the effort of others in the development of their own capital.

I have had the scroll on various walls for thirty years - I would have to say that it has certainly encouraged me to put the results of my labour into many more walls than I may, perhaps, have otherwise done.

Cheers
Kristine
 
i had a chance to pick up half of Spalding and Utakarra for $13k a block - but again, banks....

LOL. I've locked up half the occupants from those 2 areas. Rangeway is another. NO wonder they're on the banks red flagged areas to stay away from haha
 
Hey Propertunity, great thread you posted.

I think many a rich man could tell stories about Banks and others not having the confidence to allow individuals the finance they need to complete that deal of a lifetime.

But on another note, regarding the group of investors you mentioned that bought the acreage and developed it. Is there a particular way that people get involved with others to take on a larger project such as this other than through word of mouth.
I know there are plenty of spruikers around, but there must be enough investors on this forum to gather the numbers needed to pursue deals at the bigger end of town rather than allow others to get in?

Would you yourself be interested in a group deal or does that not align with your own strategy. If not, why?

Cheers.
I always enjoy reading your threads.
Pango.
 
Hey Propertunity, great thread you posted.

I think many a rich man could tell stories about Banks and others not having the confidence to allow individuals the finance they need to complete that deal of a lifetime.

But on another note, regarding the group of investors you mentioned that bought the acreage and developed it. Is there a particular way that people get involved with others to take on a larger project such as this other than through word of mouth.
I know there are plenty of spruikers around, but there must be enough investors on this forum to gather the numbers needed to pursue deals at the bigger end of town rather than allow others to get in?

Would you yourself be interested in a group deal or does that not align with your own strategy. If not, why?

Cheers.
I always enjoy reading your threads.
Pango.



Yep if only , pooling makes anything possible but I've found on average most investors were very , VERY , conservative or , they just plain have their own paths to follow .
You need the ones with a bit of oomph and that are actually interested in doing different stuff or pooling into bigger deals and there aren't many that can just spot a deal or either want to or have the nerve to pounce.

It makes putting this stuff together a hell of a lot of work , too much for me. I messed around with it a bit but I just couldn't stand dealing with most of it , it was like watching paint dry .

Cheers
 
Hey Propertunity, great thread you posted.

I think many a rich man could tell stories about Banks and others not having the confidence to allow individuals the finance they need to complete that deal of a lifetime.

But on another note, regarding the group of investors you mentioned that bought the acreage and developed it. .

I think the OP re the acreage development was Dazz not me ;)
 
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