Easiest way to make $1,000,000 from property

Good thread idea, will start.

 

Like this except the market collapsed on these blokes so the full potential profit wasn't realised. This was the work of a forum member and his dad. I went to one of the home opens. The property is stunning!

 

Much easier to happen if the markets are booming like Syd and Melb

 

And for the more hardcore dice-rollers...

Developer demolishes Kew mansion, selling block for almost double the price

 

This is the answer to your question. Easiest way to make a million in real estate?

Buy 2 potential development sites in Sydney or Melbourne in 2013 or 2014. Wait until 2017. Sell. I can't be bothered finding an exact example, but here is one from HW.

$420,000 in 2011.
$950,000 in 2017.

That's a $530,000 increase. Do that twice, minus stamp duty and commissions and you don't quite crack the $1 million. It would have worked in Sydney though.

Boring but easy. Buy, hold, sell. Make a million.

 

Yes, yes and yes... and you don't have to develop

Easiest way to make money is to buy in booming markets, and yes, development sites are very sort after in boom times, because they are unique, tightly held and as the boom continues they become more scarce

 

Hardest way to make $1,000,000 from property would have to be investing in South Australia

 

Funny, not if you have a winery

 

Pretty much although I think @Brady did quite well with a duplex development?

 

Yea he did. Shows there is still money in development if you do it right, hats off to him!

I meant buy and hold, is a poor performer in Adelaide.

 

While there has berm solid growth in some areas they are nowhere near Sydney or Melbourne. Other areas have gone backwards, like most of Perth.

 

Lol depends where/what your buying and holding.

 

So don't buy in the north?!?!

You know what im saying though, plenty of people on here have multiple adelaide property and have gotten know where near the Sydney people

 

I know many that have bought and held in Adelaide over the last 3 years and have made very large returns.

Not Sydney or Melbourne returns but they have boomed.

I can think of a heap of suburbs in Adelaide that would be excellent buy and holds.

 

Nah no way, Adelaide has never gone up

 

Peter Martin: The game of mates that makes our billionaires mega-rich
From above :
"In Colombia 85 per cent of the billionaires were politically connected, in India 66 per cent, in Australia 65 per cent and in Indonesia 64 per cent.

That's right, on this one rough and ready measure, Australia had more in common with Colombia than with the United States. "

Why some billionaires are bad for growth, and others aren’t

 

I guess you have added value with your development, one way to grow capital. well done

 

If its purely buy and hold strategy and waiting for a boom then it may be a long time between drinks, 7-10 years who knows? Then it would also come down to how many properties you have secured and the product. It will be slow, but some investors are OK with this. What is it they say... slow and steady wins the race.... to hell with that

Chasing chunks of cash, immediate profits/growth and no boom cycle will require more work, ie developing property, selling down but you would need to be an active and diversifying may be the way to go.

 

Flat market or declining market? Flat market is easier. Buy a splitter block with retain and build potential. Ideally the front house would be run down and need renovating to improve the value. Split off the back block and build. Complete the project, retain and rent out and repeat. I don't know how long it would take to get to $1,000,000 but it would be a lot slower than doing the same thing during a boom.

 

Another option buy blue chip the right product super desirable, but must be in rising market ... $1m purchase price doubles in 3 years???
Is it possible??? Yes... this is what happened in Syd and Melb