Shopping Spree Hunt

Just had my last valuation come in yesterday for a couple of properties that we had revalued because we need the equity to buy our next deal. Could revalue more but don't need anymore than this for the moment. We will probably buy a deal or two using low LVRs to manage risk (debt) on these. Something I'm not thrilled with.. but also not thrilled with going bankrupt either... so gotta give in a little to my fears here.

- 2, 2 bedroom units, 1, 3 bedroom in Eastern Suburbs Sydney 12 month combined increase of 368k (using 10k to do a small reno soon so need to minus 10k from the total amount, lazy to edit image)

- 2 homes in Blacktown Sydney. 12 month combined increase of 115k
- 3 homes in Brisbane, 12 month combined increase for 2 homes 120k, 18 month increase for 3rd home 290k, combined increase of 410k. The areas I bought in had massive growth and also massive BMV buys on 2.
- Sold one of our units in China, bought 14 months ago and made a net profit of 125k AUD , ROE wasn't fantastic due to buying in cash but we had no other choice at the time. Still, not complaining.). Many parts of Chinese real estate is booming but their government power always makes me nervous. Overnight (like Singapore) they can crash or boom a market.

Would take a lifetime and a half to save up this amount. Interestingly, almost every single one of those properties bar 1, various people were saying I was mad to be buying at the time.

Time to go shopping with...

 

Good position to be in lad. Where are you looking?

 

Excellent work indeed

Were those detractors non-investors? Reminds me of the classic quote "those that say it can't be done need to get out of the way of those that are doing it".

Hope you cracked open a decent bottle of champagne for that achievement.

 

Legen "wait for it".....dary!
Always love your posts @Leo2413 and your positive mindset. Just goes to show how powerful it is when put to the correct use, free from being restrained from the negative doubters.

First thing first is take a holiday and reward yourself for the effort. Doesn't have to be extravagant, but a nice resort with the legs kicked up sucking back a mojito.

Next thing and I know this is out there but "maybe" consider reducing some debt? I'm all for leveraging to the hilt but wouldn't be adverse with all these gains and particularly in the Sydney markets to get out high on a few. Maybe sell 1?

The remaining equity I would be going again in some new markets outside of Sydney. I still think some outer Melbourne suburbs have a lot of growth to come over the next 5 years.

 

With that much equity increase you could buy another full size house in Blacktown and still have money left over.

 

Looks like the hunt is on to find a Thai restaurant that makes money bags as big as a human person!
I have nfi what the numbers mumbo jumbo is about i do however, also like money bags

 

Wow, that's awesome did you do any value adding? Where are you looking next?

 

amazing outcome @Leo2413. the one at Blacktown is a star.
we had similar experience, bought in 2011, 3 bedder house, paid $300k, reno costed $10k, now worth $650k. If we add a grannyflat (which costs about $100k), we could sell it for $850k. Make it even better, we have 2 of these in Blacktown LGA.

 

Wow. Impressive stuff.

It's posts like this that inspired me to keep plotting and sheming a path to world domination....

 

Love it! Well done Love the change in avatar too!

You know what I love most about these posts and this forum in general? It's the positive feedback. I like that people celebrate others' success.

 

How close would you say these valuation increases are to actual growth? The reason I ask is in my (admittedly piddly compared to yours) portfolio, I'm noticing that bank valuation vs reality is not always the same.. I'm confident I could do a re-draw and pick up a few more properties, but I'm really wary of the idea of investing paper money when I know the underlying assets wouldn't go for what the bank says.

This is why I will almost definitely never see $1m+ growth in 12 months, too risk averse.

 

Nice work @Leo2413

 

Wow

 

Leo are you basically making small 10k improvements to the property or are you in most cases just holding and letting tiem do the rest? Also, im guessing most of these properties are further out?

 

@Leo1234 nicely done.

 

Well done Leo,
You are a major credit to this forum and its awesome hearing about your success.

 

Congratulations Leo, just goes to show what you can do when you believe in yourself instead of sit on your bum and whinge

 

while Sydney doomsayers was putting their popcorn in the microwave....you made half a $Mil .....in Sydney..and in the last 12 months?

hats down.

 

Sydney west is where all the dreams come true.