Hi all, I've been reading ss and PC for years and am finally starting to get involved. 28 years old. Born and grew up in Sydney. Earlier this year secured a remote working job for a US company (earning USD) and promptly left Australia to live remote. Property journey: -bought my first property in Adelaide in March this year. Due to limited funds + Sydney and Melbourne peaking this seemed like the only option. -inherited an apartment literally 2 weeks after closing on the Adelaide one with my sister in Macquarie Park - it has $230k left on the mortgage and has been re-zoned to high rise units. Other apartments in the block have been sold for mid 900s last year, however we are in a collective with 3 other buildings to sell to a single developer. Given the market turning developers have backed off - but we aren't in a rush to sell. When we do this will be a large windfall. Plans for 2019: -Save money, save money, save money. Plans for 2020: If Sydney has looked like it has bottomed out I want to focus solely on developments. I realise now that this is the only way to truly create a large property business. I'm taking complete ownership over my results and look forward to what is on the horizon.
welcome to the forum @mike7575 the Macquarie Park unit complex, I have clients in the same complex you mentioned, a bit pity it did not go ahead with the development, otherwise you would packet nearly $1mil
Hey Eric, peachtree rd? I didn't think it wouldn't go ahead as there are 60 unit owners with 60 different opinions! I'm not too fussed, had 0 expectations! It will happen one day
That whole pocket of Macquarie park redevelopment will happen eventually, just a little too slow and late for this cycle.
