Am I missing something...or sell and run with the money?!

Discussion in 'Investment Strategy' started by Sackie, 24th Sep, 2019.

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  1. Sackie

    Sackie Well-Known Member

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    Will update when it's sorted. But suffice to say I spoke to the agent and this decision is not purely based on dollars and cents. Just as I thought.
     
  2. willy1111

    willy1111 Well-Known Member

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    Maybe its the neighbor that built a massive home and is rich enough to not want a duplex next to him....he wants a tennis court or maybe a pool ;)
     
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  3. inertia

    inertia Well-Known Member

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    oh man, I hate starting a book series when the author hasn't finished!
     
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  4. Stoffo

    Stoffo Well-Known Member

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    It's like a TV show, each episode finishing with a cliff hanger and left to wait a week until the next episode o_O
     
  5. datto

    datto Well-Known Member

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    Sackie, I didn't realise you were so well endowed.
     
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  6. Sackie

    Sackie Well-Known Member

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    Bonds do special batches of clothing just for me :p
     
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  7. Scott No Mates

    Scott No Mates Well-Known Member

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    Gimp masks?
     
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  8. Sackie

    Sackie Well-Known Member

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    That's a step up from the balaclava @datto is accustomed to :D
     
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  9. Optimus

    Optimus Well-Known Member Business Member

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    ............ and there goes an interesting thread
     
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  10. Sackie

    Sackie Well-Known Member

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    All work and no play makes life boring. I'll update on the original post as soon as it's all locked away mate .
     
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  11. Leeroy93

    Leeroy93 Well-Known Member

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    I love these stories. A showcase into why property is an asset class like no other, often driven by emotional or sentimental influences. Its why there is so much opportunity for those with an open mind and a bit of nouse. @Sackie no matter which decision you make, have no regrets and use it as an opportunity to keep moving forward. Good luck!
     
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  12. gach2

    gach2 Well-Known Member

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    While a little background in development and duplex nothing nowhere near in properties worth 3-4 million. Just wondering where the numbers do not stack up. I understand if its something you dont want to or cant currently do.

    Eg 4 mil current value
    Development cost ?
    End value ?
     
  13. Sackie

    Sackie Well-Known Member

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    Even looking at a few of the numbers, it's quickly apparent how a duplex build will be tight

    The rough numbers not taking any taxes into account.

    Land: 4mil ( plus my premium)
    Build: at least 2mil
    Soft costs , demo: 200k
    Çontingency: 150k

    GRV: 7-7.3mil
     
  14. Silverson

    Silverson Well-Known Member

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    I'd be selling, assuming the premium is a handsome one to pay down the 300k, costs, taxes etc and net you a 4 mill profit, I would sell up and invest in it in shares, enjoying the circa 200k pa in dividends you would receive plus any cg.
    Again no one knows your situation and circumstances however I have come to realise that the best investments are thee ones that buy you time, that for me means income
     
  15. Sackie

    Sackie Well-Known Member

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    I'm not a huge share person. It's too passive for me and I don't have the skills ( or temperament) to be good at actively trading. I'll stick to what I know best which hasn't worked out too badly to date.

    Tbh I have time. I spend a lot of my days now taking the little monster all around town and snapping photos of her playing. Taken yesterday at glorious Centinental park, she's learning to surf on a log :cool:


    IMG_4973.jpg
     
    Last edited: 27th Sep, 2019
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  16. hammer

    hammer Well-Known Member

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    I see four million reasons to sell right there. ;)
     
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  17. Scott No Mates

    Scott No Mates Well-Known Member

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    Is that a wooden horse?
     
  18. Sackie

    Sackie Well-Known Member

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    Some massive log at the park mate. The black swans there are super aggressive. Didn't realise how aggressive swans can be.
     
  19. Optimus

    Optimus Well-Known Member Business Member

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    Cute kid mate, how old?

    We just had our 2nd girl. 17 month old and a 1 month old.
     
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  20. Sackie

    Sackie Well-Known Member

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    Thanks. 8 months old. Youre brave to have 2 under 2 years old... For me 1 is more than enough.