Top five worst property investment ideas

Discussion in 'Investment Strategy' started by yuefu, 27th Aug, 2015.

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  1. catsteve

    catsteve Active Member

    Joined:
    22nd Jun, 2015
    Posts:
    41
    Location:
    Perth, WA
    Farms ?
     
    catsteve, 13th Sep, 2015
    #61
  2. adrian_christian

    adrian_christian Well-Known Member

    Joined:
    27th Jul, 2015
    Posts:
    188
    Location:
    Mauritius
    I came so close to buying an ATM machine once...high volume, high traffic machine just off Pitt Street in Sydney, a "floor" on commission...it was all just too silky smooth for me, couldn't/didn't hit the go button :)
     
    adrian_christian, 14th Sep, 2015
    #62
  3. Kangaroo

    Kangaroo Well-Known Member

    Joined:
    21st Aug, 2015
    Posts:
    252
    Location:
    Sydney
    Look at this one in blackwater QLD

    11/09/2015For SaleOnline Listing - AgentHouseInterest Above $40,000

    14/08/2015For SaleOnline Listing - AgentHouseInterest Above $40,000

    29/11/2011SoldGovernment Notified Sale (Normal Sale)Dwelling$227,000

    22/10/2009SoldGovernment Notified ale(NormalSale)Dwelling$175,000

    19/11/2003SoldGovernment Notified Sale (Normal Sale)Dwelling$74,000

    02/06/1998SoldGovernment Notified Sale (Normal Sale)Unknown$24,000
     
    Kangaroo, 22nd Sep, 2015
    #63
  4. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    9,191
    Location:
    Adelaide and Gold Coast
    How much was it and what expected return?

    Any regrets?
     
    D.T., 22nd Sep, 2015
    #64
  5. adrian_christian

    adrian_christian Well-Known Member

    Joined:
    27th Jul, 2015
    Posts:
    188
    Location:
    Mauritius
    No regrets, figures are hazy now as it was 10-12 years ago now, but 8 year agreements (5 year machine warranty), volatile volumes, depending on a buy/lease scenario, paybacks were 18 months (most optimistic) to 4 years (conservative). That was at $2.50 fee per transaction.

    Maintenance (planned and unplanned) was quite costly.

    This was even before NFC and Tap N Go....
     
    adrian_christian, 22nd Sep, 2015
    #65
  6. Kangaroo

    Kangaroo Well-Known Member

    Joined:
    21st Aug, 2015
    Posts:
    252
    Location:
    Sydney
    One of my friends got into OTP crap in 2003/2005 period in Sydney. He bought OPT with value of 500K for a 2 bedr. In 2005, it was revaluded around 450K before settlement. It happened to all the buyers for that building. They teamed up to launch a legal battle against whoever. The other party, seeing him as the pack leader, gave him 50K in cash and he walked away. Not sure of the rest of buyers.
     
    Last edited: 23rd Sep, 2015
    Kangaroo, 23rd Sep, 2015
    #66
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