The deal of a lifetime comes up pretty regularly.
Some SSers often quote the the deal of a lifetime comes up frequently.
If this is the case, then perhaps people could post in this thread the once in a lifetime deals they come across.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
The deal of a lifetime comes up pretty regularly.
Some SSers often quote the the deal of a lifetime comes up frequently.
If this is the case, then perhaps people could post in this thread the once in a lifetime deals they come across.
Some SSers often quote the the deal of a lifetime comes up frequently.
If this is the case, then perhaps people could post in this thread the once in a lifetime deals they come across.
The seminars I went to decades ago (haven't been to any since ) stressed how important your income was because in the early years, that is all you have to leverage. I have been guilty myself of saying "Making a living interferes with making money!" but I will concede that in the early stages "Making a living" and living within your means is paramount.They use acronyms like J.O.B as well, implying that jobs are something to be looked down upon.
Novices that attend seminars and read books by "gurus" who make out that investing is easy. They use acronyms like J.O.B as well, implying that jobs are something to be looked down upon.
..., then perhaps people could post in this thread the once in a lifetime deals they come across.
I married my sweetheart. Does that count?
No this forum is only about $- unless of course your sweetheart doubles in value every 7 years.
Some SSers often quote the the deal of a lifetime comes up frequently.
If this is the case, then perhaps people could post in this thread the once in a lifetime deals they come across.
Not sure.... I don't think 10% under value would fit, maybe 20%+ would.How would you define a deal of a lifetime? What is the minimum criteria it should fulfill?
unless of course your sweetheart doubles in value every 7 years.
I was hoping that posters could tell us what deals they have done that are deals of a lifetime to help others recognise them.
Deal 1
Tried to purchase 50% of Wesfarmer house on the Esplanade here in the Perth CBD when it came up for sale about 9 years ago.
50% of the building was selling via expressions of interest.....eventually sold to an overseas buyer for about 10.5m
Bank wouldn't support me in the finance....said it was far too risky, Wesfarmers HQ was a dodgy Tenant and overall far too big for me.
Rent for the entire building was about 2.5m pa at that stage....so by my calcs I wouldn't have had to chip in anything at all.
Five years later, the same mob sold the 50% for 28m.....I was spewing.
They made 3.5m pa every year for five years, and all they had to do was sit there and collect the excess rent and spend it.
Deal 2
Tried to purchase a big 20 acre parcel of land on 3 titles out in Canning Vale WA about 4 years ago.
One title was 10 acres bare block of land.
One title was 6 acres with a nice factory on it renting for 1.14m pa nett.
One title was 4 acres bare block of land.
Asking price was 18m.
Tried to get finance, but the Bank said it was a dreadful deal.
All I saw was a bewt 6.3% nett yield over the entire lot, and a bunch of vacant industrial land ready to chop up and sell off.
Finance at the time was 7.5%, so only 1.35m in interest a year. To hold, it would have cost only 210K p.a.
Obviously so did someone else, a Victorian consortium of 20 investors, who paid the full asking price of 18m.
They applied to council, did the division, put in a small street and chopped up the 10 acre block into 8 smaller blocks selling each one for 2m. Did the same for the smaller 4 acre block, selling 4 smaller blocks for 1.2m each.
Total block sales was 20.8m. Total time was just over 2 years.
I reckon when stamp duty, devvy costs and differential holding costs were taken into account, they would have completely got their money back, and their prize or dividend for the project was a fully owned factory on 6 acres producing by now 1.2m pa nett in rent.
The 20 investors each would have now 60K p.a. nett pouring into their pockets forevermore.
Showed this to the Bank later and they said "Oh well, at the time, given the information to hand, we considered this a very risky proposition." Bah humbug !!!
Needed a few partners but they were nowhere to be found.....
....and in my opinion, no, they do not come up all that often.