Auction on Thursday

Couple of hundred k.

 

Can you share what were the things you knew about it that other buyers probably didn't for the greater value add?

 

One of the things was the retaining in the garden was totally botched and overkill. It could be redone freeing up a lot of land. There was one other thing (not specific to just this property) but also others in the area so I won't comment on that as I'm actively looking.

 

It’s what I’ve found. People are banking on prices going up even further for a profit to be made. There is an enormous amount of money in the economy and people are desperate to find places to put it even if it’s at a loss on today’s values.

 

Agree. I'm trying to find something that makes sense in today's dollars but many ppl are factoring another 15 to 20% growth.

I'm looking at areas of high demand with good price gaps between renovated and old. It's not impossible to get one at a decentprice, one just sold with a nice gap in price. Sold off market though. I'm chasing as many off market channels as possible because that's where the opportunities are atm.

 

I wonder if this is the reason that crypto and other silly investments such as classic cars have shot up. People have the money and don’t see opportunities in the ASX and RE markets.

 

I don't really know....but I agree with you, there's a ton of money out there yearning to be parked somewhere with good upside and acceptable risk. Just not easy to find. But if you can, the rewards could be very good.