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%
  1. Steven Ryan

    Steven Ryan Well-Known Member

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    Very punny Wombat..

    Atypical purchasing values/sequence. I am guessing a strong income household or a big injection of capital at the beginning?
     
  2. hobo

    hobo Well-Known Member

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    Location:
    FNQ
    Never made it with resi.

    One CIP and we were past it.
     
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  3. ellejay

    ellejay Well-Known Member

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    19th Jun, 2015
    Posts:
    2,192
    Location:
    Kimberley and NZ
    Eight properties tipped us over the mark.
     
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  4. Azazel

    Azazel Well-Known Member

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    Awesome. I'm guessing some were around the $100k mark. Do you mind telling us if you still have any of those ones, and how much they're worth now?
     
  5. peastman

    peastman Well-Known Member

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    18th Jun, 2015
    Posts:
    258
    Location:
    Melbourne
    Sold one and bought another 3
     
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  6. Justin_Z

    Justin_Z Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
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    594
    Location:
    Sydney | Servicing Australia wide
    3rd one tipped us over
    1st- 550k (apartment) in 2013
    2nd- 263k (house) in 2014
    3rd- 305k (house) in 2015
    4th- Pre-approval in place!
     
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  7. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,626
    Location:
    At work
    414, 485, 700 to get to 1m
     
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  8. Phantom_X

    Phantom_X Member

    Joined:
    20th Jun, 2015
    Posts:
    12
    Location:
    Sydney
    One in Sydney as PPOR in 2010 and then 1st Brisvegas property in 2014 put it at just over 1 mill. Now looking for IP 3 & 4.
     
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  9. Cadbury99

    Cadbury99 Well-Known Member

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    18th Jun, 2015
    Posts:
    195
    Location:
    QLD
    PPOR was not my first PPOR, I traded up a couple of times previously but yes I used to have strong income until I got retrenched last year. I remain somewhere between unemployed and retired, not entirely sure which yet. ( people say I'm too young to retire).
    Luckily for me all IP's are either positive cash flow or close to it (maybe not if I don't end up in top tax bracket) and PPOR is paid for and has gained >50% in value over past 5 years.
     
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  10. Steven Ryan

    Steven Ryan Well-Known Member

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    Seems you're sitting pretty. I would imagine you'd almost default to the top marginal rate from rental income along, yeah?
     
  11. Brady

    Brady Well-Known Member

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    18th Jun, 2015
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    2,561
    Location:
    Adelaide, SA
    Just realized I'm not there based on purchase price ($175k, $265k, $216k & $335k) and won't be getting there anytime soon.

    Last property will ~$900k to develop into 3. So based purely on purchase prices I'm not there.
     
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  12. ZachAnsel

    ZachAnsel Well-Known Member

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    18th Jun, 2015
    Posts:
    132
    Location:
    Sydney
    3 for me.
    $430k, $320k, $290k
    Cmv $750k, $450k, $400k

    But now days just need 1 or max 2
     
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  13. Azazel

    Azazel Well-Known Member

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    Brisbane
    That's pretty much as close as you can get, only a few grand off.
     
  14. Azazel

    Azazel Well-Known Member

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    8,091
    Location:
    Brisbane
    Still at 59.2% for 3+.
     
  15. Cadbury99

    Cadbury99 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    QLD
    Not after paying all the interest - I took on a lot of debt to maximise tax deductions.

    Luckily for me, compared to my work peers, We (my wife and I) have a relatively frugal lifestyle which has enabled us to pay off our PPOR and get 9 IP's. All I have to do now is be patient and hopefully the cashflow will improve and CG come.
    I have a large LOC to fall back on if required - doubt I have the servicability to increase it though!

    Yes, I'm fortunate but I didn't get here by accident - I left school at 17 with just the equivalent of school certificates. I worked hard and never turned down an opportunity, and in my early career worked hard to find those opportunities.
    I ended up in a senior role at a financial institution and lived with those responsibilities and the stress of that for many years (no I was not a banker, not that there is anything wrong with that!).

    Still toying with idea of going back to work but not sure I want to go through all the bullsh.t to get a good role. Might have to get a haircut and have a shave :D
     
  16. ellejay

    ellejay Well-Known Member

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    19th Jun, 2015
    Posts:
    2,192
    Location:
    Kimberley and NZ
    Think I misread this and thought of $1m net. Anyhow we still have 3 of the real cheapies at $100k now worth $170 each approx and good yields.
     
  17. Mick C

    Mick C Well-Known Member

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    18th Jun, 2015
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    206
    Location:
    Sydney
    oh right...yea 2nd one
     
  18. See Change

    See Change Well-Known Member

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    18th Jun, 2015
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    5,110
    Location:
    Sydney
    PPOR built in 2000 took us over the 1 mill mark .

    Cliff
     
  19. mja

    mja Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    204
    Location:
    Sydney
    2.

    The first was a CBD Apartment (PP $336k), the second was a house in a lifestyle location ($650k) that pushed asset values to $1m after it was fully completed. Both in QLD.
     
  20. tess_

    tess_ Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    113
    Location:
    Sydney
    2009 560k
    2010 284k
    2010 195k

    hence $1m mark reached

    Sold the 560k place for 985k recently, was pretty happy with the growth.
    In the same suburb, friend recently sold their 694k place (also bought 2009) for $1.55m :eek:
     
    Azazel likes this.

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