QLD Sunshine Coast (caloundra) or empower wealth

Oh okay fair enough , still not a fan of new land releases

 

Depends when and where.. I've made 190k off one property in the last year from that strategy...

 

yeah it was for the property plan where they showed me what i could afford and how it would affect my lifestyle/ cash at hand etc. they didn't show any stock as that comes with the $13k BA fee. don't get me wrong i loved the podcasts and went to them as they seem like down to earth industry leaders (and they are lovely) but the result was just generic and didn't end with a clear and concise plan of what type of property i should buy or how to move forward apart from handing money to an inexperienced buyers agent. they spent more time trying to get a spreadsheet working than listening or educating. I feel bad for knocking them as i left the initial consultation (with Bryce) extremely happy and confident they would steer me in the right direction but in the end left wondering how they got it so wrong.

 

Sad to hear that @Johnny Smith. I've been listening to their podcast fervently and thought I might come to use them one day. Learnt a lot as a newb as well, like looking at lifestyle drivers, population growth.. Still will learn from their podcast but sad to hear you got something generic for your money.
Thanks for sharing your experience.

 

So you mind saying where. This property is located. ?

 

Sydney.. And btw, the market hasn't moved at all in that market since the day I bought. Just bought right. If the same established homes are selling for 20% higher than what you can build em for when you get land then why not do that.. I like the strategy but its not easy to locate places

 

Agree. Stay well away from any of these money managing type companies. Their motive is to make money from you. Money is hard earned and easily lost. You will get much better advice for free on this forum.

 

So the owner of the other unit has done a backflip on me

She said what ever the valuation came back at she was happy to take $11,000 of the price since that's what she would save on real estate agent fees .

The valuation came back at $380,000 and has since notified me she can't sell for less then that , I made her an offer of 363,000

 

Ahhh well. Win some lose some.

On a side note you can do H&L packages 3/2/1 for 360k in Aura. Might be something to look into?

 

Why do you think this would make a good investment?

 

I don't. It's just what I do.

Not for everybody granted, but for less than the outlay of the unit next door you can get a brand new freestanding house that near enough pays for itself, with the added bonus of full Depreciation to get a little of your FIFO Tax back along the way. And it's just up the road.

 

If you don't think it's a good investment then why would you recommend someone to buy it?

I wouldn't be buying a property because it pays for itself and because it will have a good depreciation. Seems like a flawed strategy IMO.

 

No problem. Not for you. All good.

I don't know your strategy, and I'm not presuming to know your reasons for buying property. It was merely a suggested alternative. Like I said, it's not for everyone.

 

I thought that once the address was revealed, we had worked out that without a potential view, it will cost way too much for Jaye to buy the villa next door. I mean the total price for the two properties is way more than one house on 600M2 is worth.

 

Votes are in with 73% voted I purchase the other duplex so I did.
Finance is sorted and will have the keys early February.

It worked out good in the end.
I'm moving into the new unit, save on stamp and better owner occupier interest rate.
My mum is moving into the other one for market rent

I know we worked out its more expensive then what others are paying for the same size land.
But I am in no rush for it to be developed etc and hopefully my cash flows allow me to do the development of 3-4 townhouses in approx 10-15 years and in the mean time see some nice capital growth with this great location, and with some of the biggest projects happening in Australia I believe the Sunshine coast will do well.

Let the saving begin for property number 3 in Melbourne in January 2018

 

Congratulations

 

Good stuff mate! Bring on Sunshine Coast capital growth @Jaye Kershler

 

Good job Jaye. Congrats. First part of your monopoly is complete.

 

It's not rocket science at all, but the right fuel mix might see some rockets travel further than others. At the end of the day it's about measuring real time demand vs. supply down to each suburb level. Get this right and you will see your rocket just might outperform others.
Best of luck
Cheers
Ben