Ok, share your worst performing IP that you currently have?

lets share the worst performing IP in terms of CG drop or CG % drop from either at its peak or when you bought it,that you STILL own

Mine is bought for $150k, valued at $220k a few months later, now 2 years later is $140k

 

Worst one is the 1st IP. Typical newbie mistake. OTP in a highrise, settled in 2003 Sydney Peak. High fee as well. Revalued at 2010 and still the same price.

 

First is my worst. Purchased 12 years ago, would be only worth 30k more than what I paid but have also spent a lot on maintenance. Finally the market does seem to be rising there though so there is hope yet! Added a granny flat to it last year so at least now it is giving me money every week. Total cost 420k for $640 rent per week.

 

Same here. Rockdale OTP. Sold it a year or 2 later at a small loss.

 

IP #3: Rockhampton, paid $225k three years ago, now worth just over $200k. $295/week, but horrendous insurance and council rate costs.

 

Wow, 12 years ago ! I reckon you paid around 290K back in 2003 ? That is a record long stagnation. what is it ? house/appt ? where is it ? If you do not mind to disclose.

Hopefully my Brissy purchase will not take that long to appreciate.

 

It's a regional NSW property (coastal town) purchased at the tail end of the last boom. Paid 285k.

Lesson learned, be careful what you buy, not everything goes up all the time and don't buy at the end of a boom!!!

 

My worst isn't measured in money terms, but rather in time. I have one that likes to complain about everything. Her inquiries out number the rest of my portfolio combined - but she's paying me 9% yield so be it.

 

Very similar to my worst one too.

First IP, OTP studio bought in 2004 for $340,000. Revalued last year for $400,000.

High strata fees, they doubled from it the time it settled to when I first moved in.

Cheers,
Michael