Does anyone want to share a deal

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

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  1. Vanillascent

    Vanillascent Well-Known Member

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    I had a favourable purchase as it was sold below market value so the bank got a valuation done at my request. I had a valuer appointed by the bank come out to do a valuation. I went with Adelaide Bank :)
     
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  2. MTR

    MTR Well-Known Member

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    Great cash flow and nice chunk of equity:)
     
  3. Mark

    Mark Well-Known Member

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    Great work, Michael!
     
  4. Inov8ive

    Inov8ive Well-Known Member

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    Kingswood
    Bought late 2010 for 408k
    Dual Occ
    Spent $1500 getting it rent ready and rented it out for $630 total immediately.
    Has rarely been vacant in this time.
    Just spent 30k on a reno and it will now rent for $770 total.

    Property has performed so well in both yield and growth which has been great.
    Was going to sell, agents say 800-850k and selling has always been the plan with this one.
    But now with airport, hospital upgrades etc I am 50/50.
     
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  5. RetireRich101

    RetireRich101 Well-Known Member

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    You captured nicely one complete Sydney cycle that doubled your money in less than 7 years. Well done mate.
     
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  6. Inov8ive

    Inov8ive Well-Known Member

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    Hey thanks a lot. I am still kind of optimistic about Western Sydney to be honest, not sure the cycle is finished just yet.
     
  7. Tony Fleming

    Tony Fleming Well-Known Member

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    Nice deal. I'm interested to see how the Jordan Springs East suburb development and the proposed school effects the area. Going to be a few interesting years out west with all the job growth plans they have.
     
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  8. RetireRich101

    RetireRich101 Well-Known Member

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    I sold one in Kingswood in April. I just checked on RE now. The same house would probably fetch 10% more in a space of 6 months. :(
     
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  9. Mirafeli

    Mirafeli Member

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    I bought a site in Pascoe Vale in 2008 and managed to get DA for 10 townhouses. Just sold it couple months ago to focus on other projects.

    Purchase: 1.6M
    Consultant fee: 100k
    Sold 2.7M

    Not really a great deal though.
     
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  10. MTR

    MTR Well-Known Member

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    I think brilliant, now rinse and repeat and shorter time frame:)
     
  11. sanj

    sanj Well-Known Member Premium Member

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    Not mine unfortunately but someone I know who is a bit of a gun inverted I think just under 6 figures into a business 20 odd years ago, has been board member/non exec but never had to work day in day out, this decade I think it's been paying multiple 7 figure yearly dividends to him, he's significant but not majority shareholder, and now they could be getting bought out for multiple 8 figures.

    Not bad for a sub 100k investment!
     
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  12. Hwangers

    Hwangers Well-Known Member

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    amazing work - which industry and what kind of business?
     
  13. neK

    neK Well-Known Member

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    My last purchase for myself was a few years ago, just months before the boom kicked off. Since then the focus has been on family.

    However I have been getting my property fix by purchasing for family.

    Mid 2015: 14km West of Sydney CBD, 500sqm. Purchased as 2 bedder for $1.1m. Unfortunately the CBRE bank val came in at 1.025m. (They couldn't find any 2 bedder comparables so had to two suburbs over). Gave it a $40k reno and made it into a 3 bedder (all internal changes), bank val (CBRE) came in at 1.3m 6 months later. Increase gave the family member sufficient equity to purchase two properties in Logan region in Brissy.

    Dec 2016: 11km West of Sydney CBD, 280sqm. Purchased for $1.355m. RPData Estimated value @ 1.4m. Similar place on the same day of auction sold for $1.41m.
     
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  14. Inov8ive

    Inov8ive Well-Known Member

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    I hate when that happens! Kingswood is still kicking along but I would rather sell 10% early then 10% late
     
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  15. Inov8ive

    Inov8ive Well-Known Member

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    Yes agreed. The outlook is strong and I think there is still more growth to come. There is just too much happening
     
  16. bobbyj

    bobbyj Well-Known Member

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    Nothing exciting compared to you great folk here but I'm pretty happy with a unit I bought in:

    Liverpool CBD 3/2/2 apartment
    August 2014: $385,000
    10% deposit + stamp duty = about $50k investment

    August 2015: similar unit on same floor sold for $540,000

    Tripled my investment in 1 year.
     
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  17. willair

    willair Well-Known Member Premium Member

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    ....UKI nth nsw ....