Wooohoooo! Valuation in
- Thread starter GoAnna!
- Start date
Hi GoAnna,
Like everyone else so far, just wanted to add my personal congratulations. That's a fantastic result and a good lesson for newbie investors.
i.e.
Look at a suburb which has growth potential (either buy a report, or do what you did and look at a ripple effect)
Buy well (by negotiating hard and spending a lot of time looking)
Buy a good yield (really helps with cash flow and puts more upside potential on the gains)
Wait!
Following my Mona Vale development, I think this passive approach will be my new direction. If you buy a good yield at a good price in a growth potential area then you can set and forget. There's always threads running here on these sorts of areas: Geraldton, Melton, Frankston, Elizabeth etc.
Well done!!
Cheers,
Michael
Like everyone else so far, just wanted to add my personal congratulations. That's a fantastic result and a good lesson for newbie investors.
i.e.
Look at a suburb which has growth potential (either buy a report, or do what you did and look at a ripple effect)
Buy well (by negotiating hard and spending a lot of time looking)
Buy a good yield (really helps with cash flow and puts more upside potential on the gains)
Wait!
Following my Mona Vale development, I think this passive approach will be my new direction. If you buy a good yield at a good price in a growth potential area then you can set and forget. There's always threads running here on these sorts of areas: Geraldton, Melton, Frankston, Elizabeth etc.
Well done!!
Cheers,
Michael
nice work - those are boom CG figures!
A rewarding day today. As part of a painful refinancing exercise I have had properties revalued in Launceston. Purchased for $360K in 2002 just revalued for $1.27 million. Around 12% yield on purchase. No improvements undertaken. Now 17% yield. Nice
Congratulations GoAnna,
You are an inspiration. That is a sensational result and truly well deserved.
Regards Jason.
well done GoAnna!
Great investing - especially in knowing how to, and getting, the rents up after purchase.
Great investing - especially in knowing how to, and getting, the rents up after purchase.
Thanks Dazz. Not ready to beam yet. Just a little smile This is all part of a risk management refinance plan and until it's locked down there will be no celebration. I am understanding asset rich cash poor better every day!
We will now take a breather and will review things in around 12 months. Right now we think we will achieve the most by sitting on our hands. We also need to deperately focus on all the neglected areas of our lives because if we are not a happy healthy family enjoying all those simple things that life has to offer then we don't think we are rich at all.
This is all part of a risk management refinance plan and until it's locked down there will be no celebration. I am understanding asset rich cash poor better every day!We will now take a breather and will review things in around 12 months. Right now we think we will achieve the most by sitting on our hands. We also need to deperately focus on all the neglected areas of our lives because if we are not a happy healthy family enjoying all those simple things that life has to offer then we don't think we are rich at all.
OK, now THAT gets you a kudos.
We're doing the same thing. The stress of investing, and losing a bit on the stock market recently, added up to an uncomfortable home environment for a while. Thankfully we were able to put things in perspective and realise that all the "big bricks" are already in place in our lives and we are really fortunate to be in the position we are with a beautiful wife and a gorgeous son. We're all healthy and I enjoy my work. Our finances are just the icing on the cake, and despite recent setbacks are still in great shape. Cash flow has been better, but we're in control. Time to let time pass and get back to recognising what's really important in life.
Cheers,
Michael
Once again congrats GoAnna
I remember speaking to you about these at MIG and it was very interesting to hear the story then and I am very happy for you with the valuation that came in. You saw a bargain, then increased the yield through furnishing and it has all worked out. You did the work needed to get to where you were so I am by no means going to call this "lucky" but hard work
As Michael has done so shall be done again - kudos! All too often people get caught up with making more money than they need at the expense of other facets of their life. If you are going to take 12 months off - the next 12 are probably the best in a while to take so enjoy them
Doesn’t mean you can stop posting here or turning up to MIG though!
Cheers
Ben
I remember speaking to you about these at MIG and it was very interesting to hear the story then and I am very happy for you with the valuation that came in. You saw a bargain, then increased the yield through furnishing and it has all worked out. You did the work needed to get to where you were so I am by no means going to call this "lucky" but hard work
As Michael has done so shall be done again - kudos! All too often people get caught up with making more money than they need at the expense of other facets of their life. If you are going to take 12 months off - the next 12 are probably the best in a while to take so enjoy them
Doesn’t mean you can stop posting here or turning up to MIG though!
Cheers
Ben
So true, GoAnna! It is all too easy for us all to get caught up in the busyness of day to day work and living that, too often, we forget to stop occasionally to 'smell the roses'. Enjoy those precious moments with your family!
Cheers
LynnH
Well done on getting out of your comfort zone, taking the risks, searching for the best locations to invest, negotiating the deal, organising the finance, covering the initial shortfall, visiting Launcenston dozens of times, preparing thorough spread sheets and business plans for banks, developing the prop after purchase, putting up with sleepless nights and with 6 years of consistent hard work and surgical planning and execution of those plans, you should feel proud of your achievement !
So for those who think you were simply lucky and it was matter of timing, a big thumbs down.
Well done Anita !
Harris
So for those who think you were simply lucky and it was matter of timing, a big thumbs down.
Well done Anita !
Harris
Once again congrats GoAnna
I remember speaking to you about these at MIG and it was very interesting to hear the story then and I am very happy for you with the valuation that came in. You saw a bargain, then increased the yield through furnishing and it has all worked out. You did the work needed to get to where you were so I am by no means going to call this "lucky" but hard work
As Michael has done so shall be done again - kudos! All too often people get caught up with making more money than they need at the expense of other facets of their life. If you are going to take 12 months off - the next 12 are probably the best in a while to take so enjoy them
Doesn’t mean you can stop posting here or turning up to MIG though!
Cheers
Ben
Thank you! One small correction though. These properties have not been furnished. You might be thinking of my Hobart ones?
And taking 12 months off will involve some property improvements to maximise rental returns, and watching the pulse of the market. But those are the fun bits of course
I will also be watching the fixed rates and working out when and if to jump from fixed to variable.Hey Harris,
are you implying that this is all because of hard work!!! I thought it was all just luck. You know jump on a plane walk around Launceston and decide to buy multiple properties - big deal
Anybody can do it.Just joking!!!!!!!
Again, congrats Goanna.
Where you mention the % returns that improved from 12% to 17%, is this 17% based on the new valuation or does it refer to the original purchase price?
Cheers
