Does anyone want to share a deal

Discussion in 'Investment Strategy' started by MTR, 3rd Dec, 2015.

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  1. MTR

    MTR Well-Known Member

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    There was I believe a similar thread on SS where members post a great deal, or perhaps not so great.

    Its nice to see some numbers and outcome, ie whether you sold it, accessed equity etc etc.

    Does anyone want to share??? Does not have to be anything recent, can be an older deal.
     
    MTR, 3rd Dec, 2015
    #1
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  2. JohnPropChat

    JohnPropChat Well-Known Member

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    When I read the title, for a second I thought you were asking to share an investment :)

    Partners with legendary MTR, hells ya but that doesn't seem to be the case :(
     
    JohnPropChat, 3rd Dec, 2015
    #2
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  3. S.T

    S.T Well-Known Member

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    Plenty of amazing deals in the Adelaide thread!
     
    S.T, 3rd Dec, 2015
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  4. MTR

    MTR Well-Known Member

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    but we are sharing the love S.T, Oz wide, do you have any deal you would like to share on this thread.?
     
    MTR, 3rd Dec, 2015
    #4
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  5. Xenia

    Xenia Well-Known Member

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    Bring them over here
     
    Xenia, 3rd Dec, 2015
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  6. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    Every purchase has a story...

    In April 2013, my mum wanted to go to Kingswood & Penrith to check out some properties. I thought it wasn't a good use of time but I went along. Got to one of the townhouse complexes where the time for the property we wanted to see was nearly over. Ended up at the wrong property where the agent was locking up. She showed us the townhouse. I said the rental yield was rubbish at 6% as we only liked 7%+ return. I thought it was a nice purchase for living but not an IP. A few days or so later, realised that Sydney market was starting to rise and there is a need to make the most of it. The listing agent lost the listing to one of my colleague's dad in the region. He told me I could get it for 320k as the previous agent had over promised the seller for a while. I had decided I will pursue this deal to diversify out of Mount Druitt and buy a better property........been one of the best deals.

    Property Type: Townhouse on 300sqm
    Purchase Price: $320k
    Rental Return on Purchase Price: 6.15%
    Capital Growth: 60% in just over 2 years
    Location Upside:
    * Walk to the NEPEAN hospital
    * University of Western Sydney
    * Train Station
    * Penrith Westfields

    The airport at Badgerys Creek should help the area along nicely.

    Sydney market was in early stages and the existing portfolio didn't have as much equity. The broker we had at the time got us a product that had a 20k credit card at resi rates (higher than the market though) to help with the purchasing the costs.

    What I learned from this was it was great to focus on the 7% returns, but a little bit of flexibility around the rental return AND jumping in a rising market paid dividends!
     
    Last edited by a moderator: 3rd Dec, 2015
    Property Twins, 3rd Dec, 2015
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  7. MTR

    MTR Well-Known Member

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    Nice. Capturing the growth.:)
     
    MTR, 3rd Dec, 2015
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  8. fols

    fols Well-Known Member

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    2 bedroom unit
    Hoddle ave Bradbury ( Campbelltown NSW)
    Purchase price: $190,000
    Purchased: October 2013.
    Rent: $290 per week
    Yield on PP: 7.9%

    Bank val Sept 15: $300,000
     
    fols, 3rd Dec, 2015
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  9. MTR

    MTR Well-Known Member

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    that's a great yield
    so accessed equity at 80%?
     
    MTR, 3rd Dec, 2015
    #9
  10. RetireRich101

    RetireRich101 Well-Known Member

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    It's either I was stalking you or you had the crush on me :p. My property in Kingswood settled in April 2013 as well:)

    What happened in Kingswood, stays in Kingswood...

    .....but 2015 for Penrith is like, Perth 2006 eat your heart out.

    upload_2015-12-3_21-25-19.png
     
    RetireRich101, 3rd Dec, 2015
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  11. fols

    fols Well-Known Member

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    Yes @MTR. Got revals on my Sydney properties to fund my final few Brisbane purchases + next years purchases in melb.
     
    fols, 3rd Dec, 2015
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  12. MTR

    MTR Well-Known Member

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    I am drooling:)
     
    MTR, 3rd Dec, 2015
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  13. MTR

    MTR Well-Known Member

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    brilliant, I see Brissy now moving nicely
     
    MTR, 3rd Dec, 2015
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  14. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    What a coincidence. Timed it well RR!

    What does that mean? :)
     
    Property Twins, 3rd Dec, 2015
    #14
  15. Simon Hampel

    Simon Hampel Founder Staff Member

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    Lady likes diamonds. Ain't going to share her profits with no-one. Amirite @MTR ? :D
     
    Simon Hampel, 3rd Dec, 2015
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  16. Tifoso

    Tifoso Well-Known Member

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    Hi guys, this is one of our little splitter projects nearing completion. This one caused us a fair bit of annoyance, but STOKED to be getting close to the final product. We are very proud of this, as these are the first upstairs living builds we have done.

    Brisbane Bayside
    Purchase Price: 572k (inc stamp and LMI)
    Site Prep Costs: 44k
    Construction: 780k
    Holding: 35k
    Total Cost: 1.43m
    Expected Val: 1.75m - 1.8m
    Rental yield: 5.5%

    In all honesty, we got pretty excited about the upstairs living build, and overcapitalised a little on this one, but it does have (distant) 120 degree bay views, and with a number of very positive recent sales (including one of ours :) ) in the area, we are confident our estimates are near the money.

    Cheers,
     
    Tifoso, 3rd Dec, 2015
    #16
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  17. Bran

    Bran Well-Known Member

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    Me too.
    I was typing yes before i knew what it was
     
    Bran, 3rd Dec, 2015
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  18. sash

    sash Well-Known Member

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    Barrack Heights (near Shell Harbour) ....bought for 242k in Feb 2012.....now valued around 460-480k for a 3x1x1 house. ....rent not so good at 390pw.

    If I add another story...I will have distant Ocean views....you can also walk to expanded Shellharbour Shopping Centre.

    The good thing...is this areas is still moving albeit a bit more slowly now...
     
    sash, 3rd Dec, 2015
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  19. MTR

    MTR Well-Known Member

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    Nice, has the land gone up considerably since when you original purchased?
     
    MTR, 3rd Dec, 2015
    #19
  20. MTR

    MTR Well-Known Member

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    Where is Shell Harbour? excellent growth Sash, have you accessed equity from this one?
     
    MTR, 3rd Dec, 2015
    #20
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