Buy a unit lose a fortune!

Discussion in 'Investment Strategy' started by Car tart, 16th Apr, 2021.

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  1. Gockie

    Gockie Life is good ☺️ Premium Member

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    Damn! Never knew go karts were there.
     
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  2. euro73

    euro73 Well-Known Member Business Member

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    where are you based?
     
  3. MWI

    MWI Well-Known Member

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    much greater loss than that IMHO, if you add buy and sell costs, lost opportunity and inflation of that money over all that time.
    I would rather buy a house with at least 40-50% land content in other state rather than a unit in this complex in this suburb in this location.
    I too bought a unit at the same time but in more premium lifestyle suburb, in small Art Deco complex, where most owner OO live, no lifts no pools, with some water views, north and north eat facing with garage (only 3 units few have garages), did extensive premium reno. Just had appraisal and indicative value is 83.5% increase but after renovation costs would be around 70% in 7.5 years so far into this investment journey.
    So I agree most units do not make great investments but in suburbs for lifestyle where disparity between a house and a unit is huge, buying a premium unit in very small complex in great location and adding value, one can still make a great profit. Also rental yield is great too!
    Not all unit investments will make great investments, I like to concentrate and see whether OO would buy to live there, lower strata costs, and whether extra equity can be created.
     
  4. Gockie

    Gockie Life is good ☺️ Premium Member

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    Maybe there can be a meetup but only people living 6km of say, the old Carlingford train station can attend!
     
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  5. gach2

    gach2 Well-Known Member

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    Funny when we realise we all know/knew each other at some point and hiding behind a nickname.

    That stations closed yea?
     
  6. spludgey

    spludgey Well-Known Member

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    I'm in Carlingford in the northwest corner, within walking distance to North Rocks shops. I think you're in the area as well, aren't you (I'm sadly no longer in the Hills district, due to amalgamation.)
     
  7. spludgey

    spludgey Well-Known Member

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    The bad thing is that it's an absolute pub blackspot! The closest pub to me is HPH and that's a 10 minute drive.
     
  8. Ruby Tuesday

    Ruby Tuesday Well-Known Member

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    LoL , Catherine Cashmore, was once buyers agent for M Y. Pushing apartments , now saying dont buy. In fairness she did leave on a matter of principal.
     
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  9. larrylarry

    larrylarry Well-Known Member

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    I think Euro is in West Penno.
     
  10. euro73

    euro73 Well-Known Member Business Member

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    What would we discuss? :)
     
  11. euro73

    euro73 Well-Known Member Business Member

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    Correctamundo
     
  12. euro73

    euro73 Well-Known Member Business Member

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    That's why I built this :)


    Screen Shot 2021-04-21 at 8.16.22 pm.png
     
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  13. spludgey

    spludgey Well-Known Member

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  14. Gockie

    Gockie Life is good ☺️ Premium Member

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    We'd congratulate each other for deciding to live in such a good area. In addition, with property prices going up in leaps and bounds, knowing it's a desirable area for schools and for families, new train line making the area boom, great neighbours... we'd make fun of people living in less brilliant areas... ;)
     
  15. Gockie

    Gockie Life is good ☺️ Premium Member

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    Perfect. @euro73, choose a date ;)
     
  16. euro73

    euro73 Well-Known Member Business Member

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    If I were to consider such things , the “no unicycles “ rule would be in full effect :)
     
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  17. Gockie

    Gockie Life is good ☺️ Premium Member

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    Awww :(
    But you don't discriminate against bi's....

    Screenshot_20210422-071535_Facebook.jpg FB_IMG_1619039352738.jpg
    Hehe
     

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  18. boganfromlogan

    boganfromlogan Well-Known Member

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  19. inspiredbyprop

    inspiredbyprop Well-Known Member

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    In general, we know that Sydney and Melbourne would need to go higher as with the limited land.

    I just do not quite understand why the local governments are not taking the development standard more seriously like look at our neighbour Singapore where all of the high rise building are governed/built to highest standard by the government. Surely its in the local government interest to preserve the sustainability of their area?
     
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