NSW See Change and Steven Ryan - lets hype Sydney thread

Discussion in 'Where to Buy' started by See Change, 18th Jun, 2015.

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  1. Tekoz

    Tekoz Well-Known Member

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    Does that means if the yield is going down is due to Property Price going overly expensive in those areas ?
    or it is because ofthe over supply issue (like in Parramatta).
     
    Tekoz, 29th Jun, 2015
    #101
  2. Tekoz

    Tekoz Well-Known Member

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    Which area that you mean Steven ?
    is it the Southwest Sydney area in general or the Illawarra region.
     
    Tekoz, 29th Jun, 2015
    #102
  3. skater

    skater Well-Known Member

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    Yield is supply & demand based. As supply dries up, yields go up.
     
    skater, 29th Jun, 2015
    #103
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  4. Steven Ryan

    Steven Ryan Well-Known Member

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    I mean close.

    Waterloo, Mascot, Zetland, Wolli Creek and surrounds.
     
    Steven Ryan, 29th Jun, 2015
    #104
  5. Tekoz

    Tekoz Well-Known Member

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    Cool, thanks Skater. I now understand a little bit more about investing in Property ;)

    Steven, those area that you mentioned is highly sought after by the buyers and occupiers a like, so there is no way that it can go down in values. I've seen it after having a walk in East Village shopping centre and Moore Park shopping centre across, the area is vibrant with plenty of shops around.

    Perhaps the rental rate is hard to increase ? I don't see how those area will become a problem anytime soon, perhaps from a plumbing issue in the next 5-7 years :)
     
    Tekoz, 29th Jun, 2015
    #105
  6. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    These areas have massive supply coming online, hence the concerns from Steven
     
    Ouga, 29th Jun, 2015
    #106
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  7. See Change

    See Change Well-Known Member

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    Anywhere can and does go down in a downturn .

    That's why it's called a downturn .

    Cliff
     
    See Change, 29th Jun, 2015
    #107
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  8. MichaelW

    MichaelW Well-Known Member

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    I liked the old one!... I'm a bit like you Skater, all this change is a bit hard to handle. At least Seech is still hyping Sydney. Go you good thing, Winter will just give us a chance to catch our breath before Spring comes and we add another 10% to the current median before the end of Calendar 2015. Quote me!! :D
     
    MichaelW, 29th Jun, 2015
    #108
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  9. See Change

    See Change Well-Known Member

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    Haven't finished buying in brisvagas yet ...:D Fifth today .... Still a few more to go , but there's plenty left .

    Then it's " Let's hype ....... " though I'll call it something else next time . Though the difference is its still good buying up there , so it will be more " why you can still get good deals in ........ "

    Cliff
     
    See Change, 29th Jun, 2015
    #109
  10. See Change

    See Change Well-Known Member

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    BTW Michael , welcome on board .

    How's Brisbane going for you re development .

    You should go to the introductions forum and say hello . Put up a link to your development thread . It's a great read for someone interested .

    Cliff
     
    Last edited: 29th Jun, 2015
    See Change, 29th Jun, 2015
    #110
  11. Jacque

    Jacque Jacque Parker Premium Member

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    +1 I'm forecasting 15%+ in some suburbs personally so we'll see how we go Michael ;)
     
    Jacque, 29th Jun, 2015
    #111
  12. skater

    skater Well-Known Member

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    Come over to Tregear & spruik it up 15% for me please....:p
     
    skater, 29th Jun, 2015
    #112
  13. HUGH72

    HUGH72 Well-Known Member

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    Wow Cliff you definitely go hard when buying, thats conviction investing at its best no procrastinating.
    Hugh
     
    HUGH72, 29th Jun, 2015
    #113
  14. sash

    sash Well-Known Member

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    Yep...thousands of apartments in the catchment...a no go zone at the moment.

    But a go zone when it comes off.....rental demand will be still there.

     
    sash, 29th Jun, 2015
    #114
  15. See Change

    See Change Well-Known Member

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    It's all relative .

    Sold one in Sydney and the five we've bought so far are still a fair bit under the value of the one we sold in Sydney .

    It's all relative . Another three and we're getting close to the value , and the cash flow on these is much better than what we sold .

    In the last cycle we bought 7 in Logan , but kept meeting people who had bought 20-30 . One ex forumite was rumoured to have around 50 in sunny bank hills ......

    Cliff
     
    See Change, 29th Jun, 2015
    #115
  16. Shadow

    Shadow Well-Known Member

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    Melbourne has had a bigger and longer running construction response over the past few years than Sydney, and is closer to having an over-supply, especially of units.
     
    Shadow, 29th Jun, 2015
    #116
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  17. Mancha

    Mancha Active Member

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    Do you think it's still a viable place for investing in free standing houses? most of the construction is targeted at units
     
    Mancha, 30th Jun, 2015
    #117
  18. MichaelW

    MichaelW Well-Known Member

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    Hi Cliff,

    Our Birsbane build is almost done now. I think I posted it on SS, but the total cost was around $750K all in and the valuations have just come back between $1m-$1.3M so we've done OK out of it. We only have $300K debt on it so a fair bit of equity. I'll get the Certificate of Compliance (its different in bris, not an OC) then try and get an LOC to 80% LVR. I might then come shopping in your neighbourhood with about a half million to spend. If I use that as 20% deposits, subject to servicability, then I could pick up quite a few.

    I think I know where you're buying based on some offline converstations we've had, but I'm not going to "out" you. Be sure and sit on that info until I have a few under my belt too... :D

    Cheers,
    Michael
     
    MichaelW, 1st Jul, 2015
    #118
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  19. Sackie

    Sackie Well-Known Member

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    Congrats Michael! Awesome result!

    Looking to do a higher spec, freestanding 2 home build in HPW and just wondering what your development was mate and how much for construction?

    Thanks a lot.
     
    Sackie, 1st Jul, 2015
    #119
  20. MichaelW

    MichaelW Well-Known Member

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    Hi Leo,

    So I don't take Seech's thread too far off topic, I thought I'd start another one to answer any and all questions anyone has of me around my latest build or any of my previous ones...

    Here it is

    Cheers,
    Michael
     
    MichaelW, 1st Jul, 2015
    #120
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