Anyone bought IPs in Sydney in 2016?

Discussion in 'Where to Buy' started by meme plecko, 23rd Dec, 2016.

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  1. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,125
    Location:
    The beautiful Hills District, Sydney Australia
    Two Sydney examples...

    NRAS deal - 3 bed, 2 bath townhouse in Bungarribbee ( Bunya Estate) Paid 560K August 2015. Settled September 2016 - valued at @700K. Borrowed 85% - 100% of purchase price + 100% of stamp duty ... ie - it cost me zero equity /cash to purchase
    34 buyers ( me + 33 other clients ) in this development got the same deal... plus 10 years of NRAS credits

    Another NRAS deal. Castle Hill. 2 bed, 2 bath apartment on Cecil Avenue. Again, purchased late 2015 - due to settle mid January 2017. Paid 620K. Valued at @ 760K+ Borrowed 85% of 760K so effectively 100% of p/price and stamp duty etc... again effectively zero of my own equity or cash went into the deal. There are also 9.5 years of NRAS credits remaining. 5 buyers ( me and 4 other clients ) got this deal.


    Buying in Gosnells WA now... NRAS also. New 3 bed villas. sub 300K. Im in it for 10 years from now, not 10 months from now.
     
  2. NHG

    NHG Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    640
    Location:
    Sydney NSW
    1. Side by side. Big enough for 3 lot split. From memory he is going the strata title route.
    2. Don't understand the question.
    3. I was being conservative. It's been a few months and at my current pace, it may as well have beem a few years ago. I recall estimating $3M profit if he built them himself which he will.
    4. He only invests in this area, has it working like a finely tuned clock. Another deal is an odd triangle off cut left after the road upgrade. Cheap and worked out how to subdivide it.
    5. I saw it as a good deal, not the most creative deal. I mentioned this a few months back when I was last active, there's a lot more to learn about what is possible. Upskilling is crucial.
     
    Perthguy, Hwangers and RetireRich101 like this.
  3. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    Great timing;)
     
  4. Lacrim

    Lacrim Well-Known Member

    Joined:
    25th Jul, 2015
    Posts:
    6,175
    Location:
    Australia
    How did he get $1400 pw for the 2 houses? Did they have granny flats/dual occ setup?
     
    Last edited by a moderator: 23rd Nov, 2018
  5. NHG

    NHG Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    640
    Location:
    Sydney NSW
    Yes they did.
     
  6. Stoffo

    Stoffo Well-Known Member

    Joined:
    14th Jul, 2016
    Posts:
    5,301
    Location:
    In the Tweed
    I bought a retail office in Sutherland in July, getting 7.3 with small capital growth.
    Very next day bought OTP in Heathcote (yet to be completed) wont be a great return, but capital growth will be good and depreciation better
     
  7. NHG

    NHG Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    640
    Location:
    Sydney NSW
    Nice!

    Is that 7.3 net or gross?