My property projects 2019

Discussion in 'Investment Strategy' started by ellejay, 12th Dec, 2019.

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  1. ellejay

    ellejay Well-Known Member

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    IMG20191128152935.jpg IMG20191022174754.jpg ISa5urop9i3mg60000000000.jpg

    My property projects 2019.

    Just looking back over my projects this year, to review and plan for the next year. This is what I did:

    In Australia
    Bought a block of land with services in regional Vic for $170,000. Submitted application for subdivision into 2 blocks. Each block will 'owe me $90k' approx after costs.
    Plan to build a house on each ($300k per house) and sell for $500k each in 2020.

    Commenced build of PPOR in NSW

    Have a house under contract in regional Vic. P/price $350k. On settlement this month will apply for subdivision and create 'free' block of land worth approximately $150k. May build on this depending on how the numbers look.

    Not holding any of these Vic properties long term, the yield is horrible. Just subdivide and sell.

    In New Zealand:
    Sold an existing IP purchased for $130k.NZD. Sold for $279NZD with little work (had owned it for 10 years).

    Sold an IP purchased for $170k NZD. Sold after 4 years for $260k.

    Commenced new build on site of existing IP. Existing house cost $399k 5 yrs ago. Rented for $400pw so yield not good. Existing house will sell after subdivision for around $520k. New build cost $230k NZD with separate services. Will sell for around $470k after subdivision.

    Commenced a reno in Hawkes Bay, NZ. Purchase price $210k NZD in 2016. Will sell around $430k after $30k Reno. Was rented at $460pw. Considering holding this, will rent for around $500 after reno. I can build a 3 bed house on the back for about $250k to rent around $500pw.

    In USA:
    Sold IP 1 in Atlanta. Purchased in 2017 for $65k USD. Was rented at $1k USD pm. Sold for $95k USD.

    Sold IP 2 in Atlanta. Purchased in 2017 for $80k USD. Rented for $1095 USD pm. Sold for $105k USD.

    Bought IP 3 in Detroit. P/price $75k USD. Rented at $850USD pm. Plan to sell (possibly in 2020) around $110k USD.

    Bought IP 4 Detroit. P/price $70k USD plus $8k reno. Will rent around $850 pm and sell when value hits around $115k USD.

    Bought IP in Alabama using USDs. P/price $70k USD including reno. Rented for $800pm. Holding for cashflow.

    We were employed in full time jobs throughout until approximately 2 months ago. That was a crazy year. Now enjoying doing renos in NZ and ready to have an AWESOME 2020
     

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    Last edited: 12th Dec, 2019
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  2. Charlotte30

    Charlotte30 Well-Known Member

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    Congratulations. What a crazy, busy year. I am wondering how you managed to keep sane through it all. Keep going into 2020.
     
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  3. Sackie

    Sackie Well-known cafe bum of the East Premium Member

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    Love it! It's always good to read posts from go-getters who are tearing it up and moving forward. So refreshing compared to the end of the world, poor ol me no home, no chance , no options boo hoo pooohooor meee..:rolleyes:

    Thanks for sharing @ellejay
     
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  4. spoon

    spoon Well-Known Member

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    Wow! Absolutely amazing! Your day job must be a great cash flow one! :eek:
     
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  5. D.T.

    D.T. Specialist Property Manager Business Member

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    Good on you! :)
     
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  6. Dark Phoenix

    Dark Phoenix Well-Known Member

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    !




    Wow! That sounds amazing! Would it be possible for you to share with us your experience in purchasing properties in the states particularly Georgia, Atlanta? Do they allow foreign ownership or just long-term lease?
     
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  7. ellejay

    ellejay Well-Known Member

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    Foreigners can buy in the US. I'll share more, there are some other posts on here too, use the search.:)
    QUOTE="Dark Phoenix, post: 764817, member: 16350"]!




    Wow! That sounds amazing! Would it be possible for you to share with us your experience in purchasing properties in the states particularly Georgia, Atlanta? Do they allow foreign ownership or just long-term lease?[/QUOTE]
     
  8. Mark

    Mark Well-Known Member

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    Whoa, I can imagine it takes a lot of determination and hard work to actively invest in 3 different countries. Many people think investing in the city they live in is already very hard. You are certainly setting a good example for many investors.
     
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  9. wilso8948

    wilso8948 Well-Known Member

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    Congrats @ellejay. What an awesome excuse for travel.
     
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  10. ellejay

    ellejay Well-Known Member

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    We worked very hard, and I put myself and my family under a lot of financial and emotional stress to make it happen. I had to take risks and focus on a specific positive outcome. It's easy to talk about the right mindset, I believe most people would never do what I've done, despite the finances/lifestyle benefits.

    We'll keep going, but at the moment I'm loving the life we've created. We're living in Hawkes Bay, and Nelson, NZ finishing off maintenance and spruce up on 2 rentals in between tenants. In the future I'll build a house on the back of one house and combined garage and sleepouts on the back of the units to make them 3 bedders.

    I love the fact that we get to camp I'm our properties between tenants and enjoy really exploring and getting to know fabulous locations.

     
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  11. jins13

    jins13 Well-Known Member

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    Fantastic work @ellejay I've been placing my partner and now wife under a lot of financial and emotional stress to make the dream happen. Can be very difficult when things don't go your way and the goal posts are being shifted all the time, but guess that's all part of the fun and challenge.
     
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  12. ellejay

    ellejay Well-Known Member

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    As a reward for my outstanding efforts I've just been handed a $16k tax bill! :eek::(
     
  13. # 1

    # 1 Well-Known Member

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    Wow congrats, I feel so lazy in comparison!
     
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  14. TAJ

    TAJ Well-Known Member

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    Did you complete the build of your PPOR in NSW?

    Where in NSW?
     
  15. ellejay

    ellejay Well-Known Member

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    Hi, not yet. Frames are up. Will be a few months off. Just outside Bateman's Bay.:D

     
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  16. TAJ

    TAJ Well-Known Member

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    I feel you would be an inspiration to many.
    Power on!
     
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  17. ellejay

    ellejay Well-Known Member

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    Thanks so much. It was my best year and worst. I teamed up with another investor and property coach that I came across on FB. Identified with this person as we have a few things in common. They even gave me a job coaching their mentees. Then they persuaded me to go into a private lender situation with them so they could buy some land. They knew I'd just sold a property. I didn't particularly want to do it, but didn't want to lose the job.

    I was so busy with everything I took my eye off the ball and they walked off with alot of my profits from last year. 3 lawyers later, I'm going through a very expensive and very stressful court case against them. So it's definitely a year if highs and lows.

     
    Last edited: 17th Dec, 2019
  18. ellejay

    ellejay Well-Known Member

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    That's why the mindset part is the biggest part. You just keep pushing forward no matter what, without destroying precious relationships. When the results of all the hard work start to show everything changes :D

     
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  19. Sackie

    Sackie Well-known cafe bum of the East Premium Member

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    @ellejay I was talking to a friend about struggle/hardships etc ( we're both 'success philosophies' junkies) and he was saying you can't really understand and feel the best of life until you first experience the other side. Then you are able to truly differentiate and feel the difference.
     
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  20. ellejay

    ellejay Well-Known Member

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    I agree. It's easy to talk about daily gratitude, being grateful etc but if you can still be grateful every day when something truly crap has happened to you then I think you've nailed it. Watching the news helps to put your own problems into perspective.

     
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