Hoping people can post in here examples of what are or were good buys and why they believe they are a good buy.
Doubt you'd get many bites to this thread, it's like saying I don't want to have to do the hard work of reading numerous threads to get valuable info and rather get people to (re)-post their deals. Besides, what are you hoping to achieve out of this? In the market to buy somewhere?
I'll show you how this is just another "How long is your piece of string" question. Once upon a time and I really cant remember which year.... I got a phone call from an elderly relative who asked me if I wanted to buy a block of land in the country. After first working out where he the^&* Regents Park was, we offered $20k for 1 hectare and she agreed. It was a ten minute drive from the University of Qld's Gatton campus in the Brisbane Valley. In other words, bloody nobody's land. We established that it was not economically viable to build a house on it to either live in or to rent out. 18 months later, we sold it for $80k. That was a couple of years before the GFC. In 2010 we bought two more properties expecting the same thing to happen. We just don't seem to have the same "luck" with all our other properties in South East Qld.
Purchased $315,000 + $50,000 subdivision costs Sold for $600,000 Virtually nil market growth. Bought $20k under market, added value and sold $40k above market. One of these every year would be nice. Willy
The other end of the scale from Syd & Melb that catch my eye are purchases on the back of massive price falls - where I watch in the QLD regionals eg one bedder in Gladstone bought at $60k, previous sale $301k. Its not necessarily a recommendation tho as it all depends on future movements
From time to time I publish some of the deals my clients have found/bought on my website blog which may help you. Ones like this as an exmple: Property of the Fortnight – 109 Larter St, Ballarat East VIC 3350 - Lend Power The idea is to share my thoughts on what I like/dislike about the deal and the potential it offers to the buyer. Hopefully it'll help people make a more informed decision when looking at purchasing their next IP. So if you're after some examples on what to look for in an IP then those posts may be beneficial. Cheers, David
I guess the difficulty with this question is contextualisation and (in)ability to quantify. The reason I say this is because in essence almost every buy have been "good" - otherwise I would not be holding them, or have sold them for a good profit. There may have been "better" buys we could have made - for sure - but I am not aware of these as I don't really research / compare this (not really interested looking at what can't be changed). I can however categorically say what was NOT good: the OTP high rise apartment we bought as a result of being spruiked to. Sure road to disaster. The Y-man
I recently bought a new samsung note 10+ It was a great buy because i got 30% off due to some program partnership
I gotta say I was pretty tempted to post some REIT and bank purchases, but managed to restrain myself.... The Y-man
I got strawberries for $1 a punnet last week. That was awesome. Now they are back up to $1.75 which is pretty good rate of capital growth in just a few days. Alas, I ate them so no chance of a quick sale for profit. I didn't keep my receipt so I can't prove I even bought them at that price either.
Totally agree in principle but what about the rapid depreciation? They go squishy and bruisy really fast.
To be honest, real estate is such a long game, that it takes a few years to really know that you nailed it.
It takes a few years to know how well you've timed the market but you should know the moment your offer is accepted if you have got a good deal in the current market. Willy
