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Discussion in 'Where to Buy' started by shorty, 20th Aug, 2015.

  1. shorty

    shorty Well-Known Member

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    ej89 likes this.
  2. Marg4000

    Marg4000 Well-Known Member

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    Do you know this property? Maybe a massive renovation was done?
    Marg
     
  3. Notlad Samoht

    Notlad Samoht Active Member

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    Melbourne
  4. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    I bought my PPOR 2 years ago and it would sell in the current market for $300k more than I bought it for. So I dont see that as being a typo tbh.
     
  5. FireDragon

    FireDragon Well-Known Member

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  6. HUGH72

    HUGH72 Well-Known Member

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    The previous owners sold at the wrong time, maybe they bought again in the same market so everyone would be happy.
     
  7. York

    York Finance Broker Business Member

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    Judging by the photos, no major reno was done. Maybe bathroom and a bit of a tidy up...I think poor timing in the first sale. Then good timing in the second sale.
     
    Leo2413 likes this.
  8. wylie

    wylie Moderator Staff Member

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    I don't think they touched a thing. That's the market moving upwards for you.
     
  9. Leo2413

    Leo2413 Well-Known Member Premium Member

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    A rising market is a beautiful, magnificent creature. :cool:
     
  10. chylld

    chylld Well-Known Member

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    Same photos and floorplan (albeit coloured in) as the 2012 listing.

    Agree with others that it's just timing. One of my IPs has gone up over 50% in 3.5 years (zero changes)
     
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  11. Azazel

    Azazel Well-Known Member

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    That's pretty decent.
    Don't know much about the Melbourne market, could still be going up.
     
  12. MTR

    MTR Well-Known Member Premium Member

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    In boom cycles these types of figures/growth achievable, similar to what people achieving with Syd western suburbs, investors doubling their money in for short time frame... Nice:)
     
  13. Big Will

    Big Will Well-Known Member

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    But it wasn't cashflow positive!
     
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  14. 2FAST4U

    2FAST4U Well-Known Member

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    Unless you're in acquisition stage...
     
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  15. chylld

    chylld Well-Known Member

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    Acquire something else? :)
     
  16. MTR

    MTR Well-Known Member Premium Member

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    Just buy in a rising market call it "acquisition stage" and you will be way infront, in other words don't buy cos someone tells you it's a good idea to accumulate property, that's called, "accumulating debt" if timing is ignored.

    MTR
     
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  17. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @2FAST4U I know what your saying but its different to a boom market. In a boom market its a lot more difficult to get a good deal (forget about great deal). But in a rising market, imo if you know how to negotiate well and are aggressive, there is still plenty of room for good deals before its too late. just my opinion.
     
  18. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @chylld And there are people working their butt off on 50hours plus a week earning much less than what your property got you... how dare you!
     
  19. chylld

    chylld Well-Known Member

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    Including myself :confused: not sure how I feel about my property outperforming me....
     
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  20. 2FAST4U

    2FAST4U Well-Known Member

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    Don't have enough money/leverage to diversify into shares yet (not that the share market is doing that good anyway).

    Yeah it's better for a market to be rising than falling anyway. Easier to get good valuations for your existing properties, which can help with deposits etc.
     
    Leo2413 likes this.