the one that got away

All fishermen have a story about the one that got away, but what about real estate investors. That great deal, that perfect investment house that you didn't or couldn't get. Any such stories out there?

As for me, well I am still kicking myself for one that got away about 2 months ago. Great Federation home in regional NSW. Big block with side lane access (and i had the view of putting in a granny flat on the side lane access). Recently half renovated and currently tenanted. The garden was a mess, it had greyhound cages/runs on concrete slabs and there was a mountain of dog poo. But the style of the house and the remaining required work on it was perfect for me. Plus the opportunity to increase rental return was great too.

So i did my DD, got RP data stats on the house and area, did an inspection, was relatively happy about it (except for the existing tenant) and was basically all set to offer. But i waited for slightly too long. I put my offer on in the afternoon of the next working day (as i was tied up in work related meetings all morning) and i was informed that an offer that already been put on it and accepted.

Shuzbut i thought. oh well. If it wasn't for those work related meetings that morning then i would've got it. How dare my work get in the way of my private life!!!

Oh well. the one that got away.

Any others?



Thanks


g
 
How about this? Huge tired bluestone mansion in a beachside suburb going to auction for approx 300000 [long time ago]? My sister said it's not a salubrious suburb.

I really liked the metalwork trimmings & the fact that it was disposed as 8 flats. It has those solid architraves & etc. You get the picture. Huge 2 storey building that nobody wanted because at the time the whole of Australia was for sale.

Yesterday I drove past & saw it from the back. The owner had extended out the back, 8 'apartments' strata titled, the entire block value I guess >2M

Or this? A CBD property with approvals for 2 shops & 5 units, all for the princely sum of 1M.

In fact, just yesterday I was thinking I could write a book about those that got away!

KY
 
Another one for me is the old bluestone station masters house i nearly bought (again in regional nsw). All set to do the exhange, but 2 days prior to the exchange, someone broke into the empty house and stole the floorboards!

I tried to renegotiate but the old female widow vendor got a tad confused and upset with the whole process and took it off the market.

She cameback to me a few months later to try and sell it to me privately but i was already committed elsewhere. I see it has now gone a complete refurbishment and is now a grand family home.

That one was just never meant to be for me.

Another one that got away.


Oh well.
 
I've been watching several 'interesting' properties locally, two of which just sold, the most interesting being a 4440sqm block with a very sub-par house on it. I don't know what it sold for yet, but if it sold anywhere near the asking price it was so overpriced its hardly 'got away'.

There's a church for sale a few doors down from this one now. Interesting stuff :)
 
For those of us that can't help but watch the market, there will always be one that got away. I've seen that many oportunities over the years that I have not taken, simply becuase it was the wrong thing at the wrong time. Regrets? Nope - I've taken chances when the time was right and came out smiling.

I've often passed oportunities to clients / friends / family - and it's nice to see someone profit from your handywork. If you're not missing oportunities, you're not looking hard enough!

My most anoying is when you've signed the contract for something, and then something else pops up. Once (when I was younger) I thought stuff it, and bought it too... ah the restless ways of our youth :)
 
Don't have a property one but had 60,000 options to buy shares at $0.30. Share price hit $4.50 but still held on as thought it would go to $5. Bailed between $0.90 & $1.21.
 
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