How many houses did it take for you to acquire $1 million in property?

Discussion in 'Investment Strategy' started by Azazel, 19th Jun, 2015.

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How many houses did it take for you to acquire $1 million in property?

  1. 1 Ain't no thing but a chicken wing

    16 vote(s)
    7.5%

  2. 2

    48 vote(s)
    22.4%

  3. 3

    61 vote(s)
    28.5%

  4. 4

    28 vote(s)
    13.1%

  5. 5

    10 vote(s)
    4.7%

  6. 6

    1 vote(s)
    0.5%

  7. 7

    3 vote(s)
    1.4%

  8. 8

    1 vote(s)
    0.5%

  9. 10+ I'm a dinosaur

    1 vote(s)
    0.5%

  10. Not there - yet

    45 vote(s)
    21.0%
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  1. Azazel

    Azazel Well-Known Member

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    I guess it's not that amazing these days considering the median house price in Sydney, you could do it with 1 purchase these days. But could you tell us how many houses (or units/apartments) it took for you to acquire $1 million in property? Actual purchase prices combined, not 'market value' or current value.
    The option for 9 is missing as you can only have 10 options.
    If you're not there yet, click on 'Not there - yet'
     
    Azazel, 19th Jun, 2015
    #1
  2. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    When I started buying in inner Brisbane I paid $100k, then $140k and the next 5 or so were still under $200k.
     
    RPI, 19th Jun, 2015
    #2
    Gypsyblood and Taku Ekanayake like this.
  3. Dan Donoghue

    Dan Donoghue Well-Known Member

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    Gold Coast, QLD
    Not there yet, my own place is not far off but I have no IP yet (Hence why I am here learning from you guys :D )
     
    Dan Donoghue, 19th Jun, 2015
    #3
    BuyersAgent likes this.
  4. Steven Ryan

    Steven Ryan Well-Known Member

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    Third apartment tipped me over in 2014. Went:

    $313k, $460k, $500k
     
    Steven Ryan, 19th Jun, 2015
    #4
    Taku Ekanayake likes this.
  5. Jack Chen

    Jack Chen Well-Known Member

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    Sydney
    Fourth Sydney flat took me over in 2010
     
    Jack Chen, 19th Jun, 2015
    #5
  6. rhinsor

    rhinsor Well-Known Member

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    Location:
    Perth
    1st $445,000 2nd $530,000, 3rd $490,000 valued in November
     
    rhinsor, 19th Jun, 2015
    #6
  7. EN710

    EN710 Well-Known Member

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    Location:
    Melburn
    If only the investment property, I need another 3 to hit that number
     
    EN710, 19th Jun, 2015
    #7
  8. Azazel

    Azazel Well-Known Member

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    Interesting. Were they budget buys at the time or fairly average for then?
     
    Azazel, 19th Jun, 2015
    #8
  9. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    Location:
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    No Average. QLD'ers on 405m2 blocks. My first splitter block I bought, slid the house over built a new house and sold the new one for $180k.
     
    RPI, 19th Jun, 2015
    #9
  10. Azazel

    Azazel Well-Known Member

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    Pretty darn close with 1 & 2, glad you didn't cheat ;)
    I might add that to the OP.
     
    Azazel, 19th Jun, 2015
    #10
  11. Pistonbroke

    Pistonbroke Well-Known Member

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    Location:
    Guangzhou
    A couple of Sydney units took me there a loooong time ago.

    As for $1m nett assets, a lot earlier; )
     
    Pistonbroke, 19th Jun, 2015
    #11
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  12. Azazel

    Azazel Well-Known Member

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    Well I'm surprised, at the moment it's over 57% with 3+ properties to get to $1M. Thought there would've been more young whipper snappers with just 1.
     
    Azazel, 19th Jun, 2015
    #12
  13. peastman

    peastman Well-Known Member

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    Location:
    Melbourne
    Voted 6 but just realised it was actually 7 properties to get to $1mil in purchase price. But spread over a number of years.
    1986 PPOR $100k
    1996 IP1 $77k
    2001 IP2 $125k
    2003 IP3 $142k
    2005 IP4 $185k
    2007 IP5 $300k
    2009 IP6 $310k
     
    peastman, 19th Jun, 2015
    #13
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  14. Azazel

    Azazel Well-Known Member

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    That's a fair timeline. Did you hang on to them all?
     
    Azazel, 19th Jun, 2015
    #14
  15. Propagate

    Propagate Well-Known Member

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    Location:
    Melbourne
    2000 - IP1 UK Paid 72k GBP ($150k AUD) - Still have it - (formerly PPOR)
    2010 - PPOR Australia - Paid $575k
    2013 - IP2 - West Sydney - Paid $354k

    ...so, took us 13 years and 3 properties to "purchase" the $1m
     
    Propagate, 19th Jun, 2015
    #15
  16. citystar

    citystar Well-Known Member

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    Location:
    QLD
    Fourth property took me over the line.
     
    citystar, 19th Jun, 2015
    #16
  17. Mick C

    Mick C Well-Known Member

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    Location:
    Sydney
    First one. But it was a big purchase...it was pretty much at $1m :(

    paid $740,000 ( House near Epping/Beecroft NSW - Cheltenham) --- went to $1m within 3 years.
     
    Mick C, 19th Jun, 2015
    #17
  18. Azazel

    Azazel Well-Known Member

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    Brisbane
    If we're talking purchase price, it was the 2nd that got you to $1M?
     
    Azazel, 19th Jun, 2015
    #18
  19. Coota9

    Coota9 Well-Known Member

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    1,286
    Location:
    Melbourne
    1999 PPOR 900K
    2014 IP1 370K
    2015 IP2 430K
     
    Coota9, 19th Jun, 2015
    #19
  20. skater

    skater Well-Known Member

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    Sydney? Gold Coast?
    I clicked 10 but the truth is I don't remember. First PPOR was $56k, first IP was $90500, but then there were a host of low cost ones in regionals. We've still got one that cost $67k, but there were a few more that have been sold off over the years.
     
    skater, 19th Jun, 2015
    #20
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