what's the greatest capital gain you've made?

[Celeste]

Hi all

I have just had my best deal considering the climate.

Purchased a 1 bed apartment in vic park in the height of the Perth boom for $ 189000, it had a 4mth settlement time by the time it settled, still in the boom valued at $220000 (not bad for waiting around) I popped a tenant in it because of the large increase, tenanted for 2 yrs.

I then renovated it at a cost of $12000, it did take me a while as I have been sick and still doing the doctors rounds and lots of test to find out why.

I finished it ready for showing 1 1/2 weeks ago, the apartment down stairs exactly the same not renovated sold for $218000 2 months ago. I had a figure of $250000 in mind for a while and at the time of listing thought I would try for top dollar.. a 7 at the end of my listing price always seems to be lucky so I listed it for $257000. also, the rent when I purchsed was $120pw now $300 - 350pw

Well, on saturday 1 week later I signed off on an offer for $255000.......yipee
yipee.. not only that the REA would have had me another offer if the apartment was bigger than 40sqm. Tho she has opened the eyes of the lady to buying a bigger place in need of help and hiring me to reno it...double yipee maybe... Just goes to show what a good reno can do along with buying the right property,

Keep in mind this property was the first property I purchased, the day after I quit work to become a full time developer..

I am so stoked I am jumping out of my skin.

 

[auror]

Well done Celeste!! I love reading stories like yours

 

[sue78]

risk and % wise, it has to be the 3 blocks of land i bought with 41k deposit each. 1 yr settlement, on sold 1 block without actually having to settle on it, paid $60k for block, sold for $144k (by ballot) and qualified for 1yr 50% CGT.

So basically I made approx $70k with $1k deposit..no borrowings. That's really making money with no money.

the other 2 blocks are now worth about $200k each. Have over $200k equity in each property positively geared.

 

[bodybuilder]

My parents greatest capital gain, not mine:

Late 80's (possibly early 90's?) when Pivot listed on the ASX, they told my parents they would get a discount on their fertiliser (parents were dairy farmers) if they bought $500 worth of shares. So they did.

Early last year, parents had to sell the cows due to unforeseen circumstances, but still had needed to pay off their hobby farm. They thought they'd check the value of their shares and put that towards it. They were valued at $77,000!

$500 --> $77,000...